Concentration Risk Type [Axis]
Highest Concentration Risk [Member]
Second Highest Concentration Risk [Member]
Third Highest Concentration Risk [Member]
Fair Value Hierarchy and NAV [Axis]
Estimated Fair Value [Member]
Quoted Prices in Active Markets for Identical Assets Level 1 [Member]
Significant Other Observable Inputs Level 2 [Member]
Significant Unobservable Inputs Level 3 [Member]
Measurement Input Type [Axis]
Carrying Amount [Member]
Collateral [Axis]
Real Estate Development [Member]
Financial Instrument [Axis]
Pass [Member]
Receivable Type [Axis]
Financing Receivable [Member]
Special Mention [Member]
Classified - Nonaccrual [Member]
Financial Instrument Performance Status [Axis]
Performing Loans Evaluated Individually [Member]
Performing Loans Evaluated Collectively [Member]
Non-Performing Loans Without a Specific Reserve [Member]
Non-Performing Loans With a Specific Reserve [Member]
Legal Entity [Axis]
Builder Finance, Inc. [Member]
S.K. Funding, LLC [Member]
Title of Individual [Axis]
Paul Swanson [Member]
Debt Instrument [Axis]
Unsecured Note with Seven Kings Holdings, Inc. [Member]
Unsecured Line of Credit from Builder Finance, Inc. [Member]
Subordinated Promissory Note [Member]
Senior Subordinated Promissory Note One [Member]
Senior Subordinated Promissory Note [Member]
Junior Subordinated Promissory Note [Member]
Unsecured Line of Credit from Paul Swanson [Member]
Subordinated Promissory Note One [Member]
Subordinated Promissory Note Two [Member]
Senior Subordinated Promissory Note Two [Member]
Junior Subordinated Promissory Note One [Member]
Other Unsecured Debt [Member]
Classified - Accruing [Member]
Subordinated Promissory Notes Three [Member]
Class of Stock [Axis]
Series B Preferred Units [Member]
Class A Common Units [Member]
Home Construction Loans [Member]
Notes Program [Member]
Total Amount Maturing [Member]
Public Offering [Member]
Other Unsecured [Member]
Subordinated Promissory Note Four [Member]
Subordinated Promissory Note Five [Member]
Credit Loss Status [Axis]
Loans Acquired with Deteriorated Credit Quality [Member]
Jeff Eppinger [Member]
Hardy Enterprises, Inc. [Member]
Gary Zentner [Member]
R. Scott Summers [Member]
Shuman [Member]
Subordinated Promissory Note Six [Member]
Subordinated Promissory Note Seven [Member]
Subordinated Promissory Note Eight [Member]
Subordinated Promissory Note Nine [Member]
Secured Borrowings [Member]
UnSecured Borrowings [Member]
Range [Axis]
Minimum [Member]
Maximum [Member]
Subordinated Promissory Note Ten [Member]
Subordinated Promissory Note Elevan [Member]
Daniel M. Wallach [Member]
Daniel M. Wallach Legacy [Member]
William Myrick [Member]
Subsequent Event Type [Axis]
Subsequent Event [Member]
Type of Arrangement and Non-arrangement Transactions [Axis]
Unfunded [Member]
Award Date [Axis]
2024 [Member]
2025 [Member]
Plan Name [Axis]
Paycheck Protection Program [Member]
Document And Entity Information
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Amendment Flag
Current Fiscal Year End Date
Entity Current Reporting Status
Entity Interactive Data Current
Entity Filer Category
Entity Small Business Flag
Entity Emerging Growth Company
Entity Ex Transition Period
Entity Shell Company
Entity Common Stock, Shares Outstanding
Document Fiscal Period Focus
Document Fiscal Year Focus
Statement of Financial Position [Abstract]
Assets
Cash and cash equivalents
Accrued interest receivable
Loans receivable, net
Foreclosed assets
Premises and equipment
Other assets
Total assets
Liabilities and Members' Capital
Customer interest escrow
Accounts payable and accrued expenses
Accrued interest payable
Notes payable secured, net of deferred financing costs
Notes payable unsecured, net of deferred financing costs
Due to preferred equity member
Total liabilities
Commitments and Contingencies (Note 9)
Redeemable Preferred Equity
Series C preferred equity
Members' Capital
Series B preferred equity
Class A common equity
Members' capital
Total liabilities, redeemable preferred equity and members' capital
Income Statement [Abstract]
Net Interest Income
Interest and fee income on loans
Interest expense:
Interest related to secured borrowings
Interest related to unsecured borrowings
Interest expense
Net interest income
Less: Loan loss provision
Net interest income after loan loss provision
Non-Interest Income
Gain on foreclosure of assets
Total non-interest income
Income
Non-Interest Expense
Selling, general and administrative
Depreciation and amortization
Loss on the sale of foreclosed assets
Impairment loss on foreclosed assets
Total non-interest expense
Net income
Earned distribution to preferred equity holders
Net income attributable to common equity holders
Statement of Stockholders' Equity [Abstract]
Members' capital, beginning balance
Net income less distributions to Series C preferred equity holders of $89 and $72
Contributions from Series B preferred equity holders
Earned distributions to Series B preferred equity holders
Distributions to common equity holders
Members' capital, ending balance
Distributions to preferred stockholders
Statement of Cash Flows [Abstract]
Cash flows from operations
Net income
Adjustments to reconcile net income to net cash provided by operating activities
Amortization of deferred financing costs
Provision for loan losses
Change in loan origination fees, net
Loss on sale of foreclosed assets
Impairment of foreclosed assets
Depreciation and amortization
Net change in operating assets and liabilities:
Other assets
Accrued interest receivable
Customer interest escrow
Accrued interest payable
Accounts payable and accrued expenses
Net cash (used in) provided by operating activities
Cash flows from investing activities
Loan additions and principal collections, net
Investment in foreclosed assets
Proceeds from the sale of foreclosed assets
Net cash provided by (used in) investing activities
Cash flows from financing activities
Contributions from preferred equity holders
Distributions to preferred equity holders
Distributions to common equity holders
Proceeds from secured note payable
Repayments of secured note payable
Proceeds from unsecured notes payable
Redemptions/repayments of unsecured notes payable
Deferred financing costs paid
Net cash provided by financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents
Beginning of period
End of period
Supplemental disclosure of cash flow information
Cash paid for interest
Non-cash investing and financing activities
Reinvested earnings of Series B preferred equity held in interest escrow
Earned but not paid distributions of Series C preferred equity holders
Secured transferred to unsecured notes payable
Reclassification of deferred financing costs from other assets
Accounting Policies [Abstract]
Description of Business and Basis of Presentation
Fair Value Disclosures [Abstract]
Fair Value
Receivables [Abstract]
Financing Receivables
Repossessed Assets [Abstract]
Foreclosed Assets
Debt Disclosure [Abstract]
Borrowings
Equity [Abstract]
Redeemable Preferred Equity
Members' Capital
Related Party Transactions [Abstract]
Related Party Transactions
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Condensed Consolidated Financial Data (Unaudited)
Non-interest Expense Detail
Non-Interest Expense Detail
Subsequent Events [Abstract]
Subsequent Events
Basis of Presentation
Accounting Standards to be Adopted
Reclassifications
Schedule of Non-financial Instruments Measured at Fair Value on Non-recurring Basis
Schedule of Fair Value Estimates for Financial Instruments
Schedule of Financing Receivables
Schedule of Commercial Loans - Construction Loan Portfolio Summary
Schedule of Commercial Loans - Real Estate Development Loan Portfolio Summary
Summary of Finance Receivables by Classification
Schedule of Finance Receivables Impairment Calculation Method
Schedule of Impaired Loans
Summary of Concentration Risks
Schedule of Roll Forward of Foreclosed Assets
Schedule of Borrowings
Schedule of Maturities of Debt
Schedule of Secured Borrowings
Schedule of Roll Forward of Notes Outstanding
Schedule of Roll Forward of Deferred Financing Costs
Schedule of Roll Forward of Accumulated Amortization of Deferred Financing Costs
Schedule of Other Unsecured Loans
Schedule of Roll Forward of Redeemable Preferred Equity
Schedule of Redemption Option for Investors
Schedule of Unaudited Quarterly Condensed Consolidated Financial Data
Schedule of Selling General and Administrative Expenses
Statement [Table]
Statement [Line Items]
Impaired loans, net
Total
Financial Assets, Cash and cash equivalents
Financial Assets, Loans receivable, net
Financial Assets, Accrued interest on loans
Financial Liabilities, Customer interest escrow
Financial Liabilities, Notes payable secured, net
Financial Liabilities, Notes payable unsecured, net
Financial Liabilities, Accrued interest payable
Scenario [Axis]
Statistical Measurement [Axis]
Allowance for loan losses
Related to loans without specific reserves
Loans charge offs
Description on construction loan
Finance receivable
Loans receivable, gross
Less: Deferred loan fees
Less: Deposits
Plus: Deferred origination costs
Less: Allowance for loan losses
Loans receivable, net
Summary Of Loan Portfolio To Builders For Home Construction [Table]
Summary Of Loan Portfolio To Builders For Home Construction [Line Items]
Collateral Held [Axis]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Axis]
Number of States
Number of Borrowers
Number of Loans
Value of Collateral
Commitment Amount
Gross Amount Outstanding
Loan to Value Ratio
Loan Fee
Real Estate Development Loan Portfolio Summary [Table]
Real Estate Development Loan Portfolio [Line Items]
Gross Value of Collateral
Interest Spread
Collateral of preferred equity
Schedule of Accounts, Notes, Loans and Financing Receivable [Table]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance (contractual obligation from customer)
Charge-offs and payments applied
Gross value before related allowance
Related allowance
Value after allowance
Borrower City
Percent of Loan Commitments
Beginning balance
Additions from loans
Additions for construction/development
Sale proceeds
Loss on sale of foreclosed assets
Gain on foreclosure
Impairment loss on foreclosed assets
Ending balance
Borrowings under line of credit
Line of credit maximum borrowing capacity
Debt instrument effective interest rate
Notes offering period
Purchase and sale agreements and other secured borrowings
Secured line of credit from affiliates
Unsecured line of credit (senior)
Other unsecured debt (senior subordinated)
Unsecured Notes through our public offering, gross
Other unsecured debt (subordinated)
Other unsecured debt (junior subordinated)
Total
2020
2021
2022
2023
2024 and thereafter
Total
Book Value of Loans which Served as Collateral
Due from Shepherd's Finance to Loan Purchaser or Lender
Gross notes outstanding, beginning of period
Notes issued
Note repayments / redemptions
Gross Notes outstanding, end of period
Less deferred financing costs, net
Notes outstanding, net
Deferred financing costs, beginning balance
Additions
Disposals
Deferred financing costs, ending balance
Less accumulated amortization
Deferred financing costs, net
Accumulated amortization, beginning balance
Additions
Disposals
Accumulated amortization, ending balance
Maturity Date
Interest Rate
Other Unsecured Loans
Short-term Debt, Type [Axis]
Debt, principal amount
Debt yield return percentage
Unsecured debt
Series C Cumulative Preferred Equity, beginning balance
Additions from new investment
Distributions
Additions from reinvestment
Series C Cumulative Preferred Equity, ending balance
Total Amount Redeemable
Common stock, units outstanding
Number of units agreed to purchase
Number of preferred units value to purchase during the period
Series B preferred units, shares
Debt from related party current borrowing capacity
Letter of credit, amount outstanding
Net interest income after loan loss provision
Non-interest income
SG&A expense
Depreciation and amortization
Loss on sale of foreclosed assets
Impairment loss on foreclosed assets
Net income
Non-interest Expense Detail - Schedule Of Selling General And Administrative Expenses
Legal and accounting
Salaries and related expenses
Board related expenses
Advertising
Rent and utilities
Loan and foreclosed asset expenses
Travel
Other
Total SG&A
Collaborative Arrangement and Arrangement Other than Collaborative [Axis]
Debt instrument, description
Debt remaining borrowing capacity
Notes payable
Debt interest rate
Debt instrument term
Additions from reinvestment.
Adjustment of additions to deferred financing costs.
Affiliates [Member]
Borrowers [Member]
Builder Finance, Inc [Member]
CEO And EVP [Member]
CEO [Member]
Change in deferred Oorigination expense.
Class A Common Units [Member]
Classified accruing member
Classified - nonaccrual member
Contributions from members preferred.
Customers [Member]
Daniel M. Wallach Legacy Trust [Member]
Daniel M Wallach [Member]
Daniel Mr. Wallach [Member]
David Wallach [Member]
Debt yield return percentage.
Deferred origination costs.
Description on construction loan.
Disposal of financing cost.
Disposals of accumulated amortizatoin of deferred financing costs.
Distributions to redeemable preferred equity holders.
Earned but not paid distributions of Series C preferred equity holders.
Eppinger LOC Agreement [Member]
Eric A. Rauscher [Member]
Eric Rauscher [Member].
Executive Vice President of Operations [Member]
EVP of Operations 1 [Member]
EVP of Operations 2 [Member]
Executive Vice President of Sales [Member]
Carrying Amount [Member]
Foreclosed Assets [Text Block]
Four Investors [Member]
Gain on foreclosed assets.
Gain on foreclosure of assets
Gary Zentner [Member]
Gregory L. Sheldon [Member]
Hardy Enterprises, Inc. LOC Agreement [Member]
Hardy Enterprises, Inc. [Member]
Hardy [Member]
Highest Concentration Risk [Member]
Home Construction Loans [Member]
Charge-offs and payments applied.
Impaired financing receivable gross value before related allowance.
Value after allowance.
Impaired loans, net.
Interest related to unsecured borrowings.
Financial liabilities,accrued interest payable.
Financial assets, accrued interest on loans.
Interest Related to Secured Debt.
Interest spread percentage.
Distributions.
Jeff Eppinger [Member]
Jeffrey Eppinger [Member]
Joseph Rauscher [Member].
Joyce S. Wallach [Member]
Junior Subordinated Promissory Note [Member]
Junior Subordinated Promissory Note One [Member]
Kenneth Summers [Member]
Kimberly Bedford [Member]
Lamar Sheldon [Member]
Loan Agreement [Member]
Loan fee percentage of commitment
Loan Purchase and Sale Agreement [Member]
loan to value ratio
Loans charge offs.
London Financial Company, LLC [Member]
Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
Loss from sale of foreclosed assets.
Loss on sale of foreclosed assets.
Lydle Mandrona [Member]
Master Loan Agreement [Member]
Mr. Summers [Member]
Myrick LOC Agreement [Member]
Myrick LOC [Member]
Net income less distributions to preferred C.
New LOC Agreements [Member]
Non-performing Loans with a Specific Reserve [Member]
Non-performing Loans without a Specific Reserve [Member]
Financial liabilities, customer interest escrow.
Note 1 [Member]
Note 2 [Member]
Financial liabilities, notes payable secured, net.
Financial liabilities, notes payable unsecured, net.
Notes Program from Employees Managers Members and Relatives of Managers and Members [Member]
Notes Program [Member].
Number of borrowers.
Number of preferred units value to purchase during the period.
Number of units agreed to purchase.
One Customer [Member]
Independent Manager 1 [Member]
Other unsecured borrowings (junior subordinated).
Other unsecured borrowings (senior subordinated).
Other unsecured borrowings (subordinated).
Other Unsecured Debt [Member]
Other Unsecured loans.
Other Unsecured [Member].
Paul Swanson [Member]
Performing Loans Evaluated Collectively [Member]
Performing Loans Evaluated Individually [Member]
Public Offering [Member]
Purchase and sale agreements and other secured borrowings.
R. Scott Summers [Member]
R. Scott Summers [Member]
Real Estate Development Loan Portfolio Line Items.
Real Estate Development Loan Portfolio Summary Table.
Reclassification of deferred financing costs from other assets.
Series C preferred equity.
2025 [Member]
2024 [Member]
Reinvested earnings of Series B preferred equity held in interest escrow.
SK Funding LLC [Member].
S.K. Funding [Member]
Schedule of Commercial Loans - Construction Loan Portfolio Summary[Table Text Block]
Schedule of Commercial Loans - Real Estate Development Loan Portfolio Summary [Table Text Block]
Schedule of Impaired Loans [Table Text Block]
Schedule of Impairment Calculation Method [Table Text Block]
Schedule of other unsecured loans [Table Text Block]
Schedule of redemption option for investors [Table Text Block]
Schedule of Roll Forward of Accumulated Amortization of Deferred Financing Costs [Table Text Block]
Schedule of Roll Forward of Deferred Financing Costs [Table Text Block]
Schedule of Roll Forward of Foreclosed Assets [Table Text Block]
Schedule of roll forward of redeemable preferred equity [Table Text Block].
Schedule of secured borrowings [Table Text Block]
Second Highest Concentration Risk [Member]
Secured Borrowings [Member]
Secured line of credit from affiliates.
Secured transferred to unsecured notes payable.
The entire disclosure of selling, general and administrative expenses.
Senior Subordinated Promissory Note [Member]
Senior Subordinated Promissory Note One [Member]
Senior Subordinated Promissory Note Two [Member]
Series B Preferred Units [Member]
Series C Preferred Units [Member]
Seven Properties [Member]
Seventh Amendment [Member]
Shuman LOC [Member]
Shuman Line of Credit Agreement [Member]
Shuman [Member]
Stephen K. Shuman [Member]
Subordinated Promissory Note Eight [Member]
Subordinated Promissory Note Five [Member]
Subordinated Promissory Note Four [Member]
Subordinated Promissory Note [Member]
Subordinated Promissory Note Nine [Member]
Subordinated Promissory Note [Member]
Subordinated Promissory Note Seven [Member]
Subordinated Promissory Note Six [Member]
Subordinated Promissory Note Three [Member]
Subordinated Promissory Note [Member]
Summary of Finance Receivables by Classification [Table Text Block]
Summary Of Loan Portfolio ToBuilders For Home Construction Line Items.
Summary Of Loan Portfolio To Builders For Home Construction Table.
Swanson Line of Credit Agreement [Member]
Swanson Modification Agreement [Membe
Third Highest Concentration Risk [Member]
Total Amount Maturing [Member].
Trust Affiliated with 7 Kings [Member]
20 Properties [Member]
Independent Manager 2 [Member]
Two Investors [Member]
Two Loan Purchase and Sale Agreement [Member]
UnSecured Borrowings [Member]
Unsecured Line of Credit from Builder Finance, Inc. [Member]
Unsecured line of credit (senior).
Unsecured Line of Credit from Paul Swanson [Member]
Unsecured Note with 7Kings [Member]
Unsecured Notes through our public offering, gross.
Value of collateral.
Wallach Family Irrevocable Educational Trust [Member].
Myrick LOC Agreement [Member]
Wallach Trust LOC [Member]
William Myrick [Member]
Without Specific Reserves [Member]
Zentner LOC Agreement [Member]
Zentner [Member]
Notes offering period.
Subordinated Promissory Note Ten [Member].
Subordinated Promissory Note Elevan [Member]
Daniel M. Wallach Legacy [Member]
Unfunded [Member]
Debt from related party current borrowing capacity.
Impairment loss on foreclosed assets.
The cash inflow from the sale assets received in full or partial satisfaction of a receivable including real and personal property; equity interests in corporations, partnerships, and joint ventures; and beneficial interests in trusts. Foreclosed assets also include loans that are treated as if the underlying collateral had been foreclosed because the institution has taken possession of the collateral, even though legal foreclosure or repossession proceedings have not taken place.
Related to loans without specific reserves.
Paycheck Protection Program [Member].
Rent and utilities.
Assets [Default Label]
Liabilities
Members' Capital [Default Label]
Liabilities and Equity
Interest Expense
Interest Income (Expense), Net
Interest Income (Expense), after Provision for Loan Loss
Other Nonoperating Income
Noninterest Expense
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared
Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid
Depreciation, Depletion and Amortization, Nonproduction
Increase (Decrease) in Other Operating Assets
Increase (Decrease) in Accrued Interest Receivable, Net
Increase (Decrease) in Deposits
Increase (Decrease) in Interest Payable, Net
Increase (Decrease) in Accounts Payable and Accrued Liabilities
Net Cash Provided by (Used in) Operating Activities
Payments for (Proceeds from) Loans and Leases
Payments to Acquire Assets, Investing Activities
Net Cash Provided by (Used in) Investing Activities
Payments of Ordinary Dividends, Common Stock
Repayments of Secured Debt
Repayments of Unsecured Debt
Payments of Debt Issuance Costs
Net Cash Provided by (Used in) Financing Activities
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations
Preferred Stock [Text Block]
Members' Equity Notes Disclosure [Text Block]
Loans and Leases Receivable, Deferred Income
Noninterest-bearing Deposit Liabilities, Domestic
Loans and Leases Receivable, Allowance
BMH Interest Escrow [Member]
Impaired Financing Receivable, Related Allowance
ImpairedFinancingReceivableValueAfterAllowances
ImpairmentLossOnForeclosedAssets
Short-term Debt
Long-term Debt
Repayments of Notes Payable
Notes Payable, Current
Debt Issuance Costs, Gross
Accumulated Amortization, Debt Issuance Costs
Classified - nonaccrual
DisposalsOfDeferredFinancingCost
Depreciation
LossFromSaleOfForeclosedAssets
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest