Occasionally, we provide A/B loan structures to our borrowers. This entails placing two liens (A and B) on the subject property at the same time. A-notes represent the senior lien and B-notes represent the junior lien. Investors in the A-note are in a safer position of the security and therefore receive a yield commensurate to that risk profile. Investors in the B-note are in a perceived riskier position and therefore are paid a higher yield commensurate with their risk level. This approach provides two major benefits: It enables our financing to reach higher amounts to achieve a borrower’s goals while getting paid for the incremental risk. This structure is only used in unique situations and usually when we have prior experience with the borrower. Investors in either the A-note or the B-note (or a combination of both) can adjust their risk/return profile to their desired levels.