Review

7. RECEIVABLES, NET
December 31
2009 2008
Notes and accounts receivable $ 75,778,364 $ 65,467,238
Margin loans receivable 429,404 7,584,046
Acceptance receivable 8,738,565 7,046,822
Revenue receivable 269,732 206,704
Interest receivable 3,423,027 6,191,290
Tax refund receivable 2,269,240 2,629,214
Asset based security refund receivable - 7,280,830
Installment receivable 6,291,193 4,004,687
Other receivables 6,241,939 5,941,568
Less: Allowance for receivables (1,145,340) (1,443,107)
8. LOANS
The details of loans are as follows:
$ 102,296,124 $ 104,909,292
December 31
2009 2008
Negotiated $ 3,438,656 $ 3,196,099
Overdrafts 6,411,845 3,893,706
Discounts 4,273,603 4,310,460
Short-term loans 372,898,077 413,853,595
Medium-term loans 432,146,502 435,134,592
Long-term loans 691,177,456 631,496,351
Delinquent loans 15,271,106 23,296,544
Gross loans 1,525,617,245 1,515,181,347
Less: Allowance for loan losses (19,391,117) (23,346,493)
Allowance for loan losses is as follows:
Receivables
$ 1,506,226,128 $ 1,491,834,854
Year Ended December 31, 2009
For Losses
on Particular
Loans
For Losses
on the Overall
Loan Portfolio
Balance, January 1, 2009 $ 1,443,107 $ 9,782,763 $ 13,563,730 $ 24,789,600
Reclassification at beginning of the year - 826,950 - 826,950
Provision (reverse) for loan losses 372,687 2,912,329 (56,854) 3,228,162
Reclassification during this year (406,000) 406,000 - -
Loans written off (476,359) (14,095,384) (25,487) (14,597,230)
Recovery of loans written off 247,190 6,470,123 - 6,717,313
Reclassified as other financial assets - (518,696) - (518,696)
Reclassification from reserve for guarantees (35,044) 154,679 3,053 122,688
Others (241) (26,204) (5,885) (32,330)
Balance, December 31, 2009 $ 1,145,340 $ 5,912,560 $ 13,478,557 $ 20,536,457
Total
Financial Status
109