6. Financing Receivables and Investments

As of March 31, 2014, we held approximately $486.8 million of financing receivables and investments on our balance sheet, which we refer to as our portfolio. The financing receivables and investments are typically collateralized contractually committed debt obligations of government entities or private high credit quality obligors and are often supported by additional forms of credit enhancement, including security interests and supplier guaranties.

The following is an analysis of financing receivables and investments by type of obligor and credit quality as of March 31, 2014.

The components of financing receivables of March 31, 2014 and December 31, 2013, were as follows:

The following table provides a summary of our anticipated maturity dates of our financing receivables and investments for each range of maturities as of March 31, 2014:

Investments consist of debt securities that are classified as held-to-maturity and thus recorded at their amortized cost as of March 31, 2014. There were no investments in an unrealized loss position as of March 31, 2014, or December 31, 2013.

As of December 31, 2013, we classified as held-for-sale financing receivables of $24.8 million and a debt security of $3.2 million, which were sold in the first quarter of 2014. The financing receivables were securitized into our securitization trusts and the debt security was sold at its fair value, which approximated its carrying value.

In accordance with the terms of certain financing receivables purchase agreements, payments of the purchase price is scheduled to be made over time, generally within twelve months of entering into the transaction, and as a result, we have recorded deferred funding obligations of $64.8 million and $74.7 million as of March 31, 2014 and December 31, 2013, respectively. We have $43.0 million and $49.9 million in restricted cash as of March 31, 2014 and December 31, 2013, respectively, that will be used to pay these funding obligations.

In December 2013, we recorded an allowance of $11.0 million on the remaining $11.8 million balance of a $24 million loan made in May 2013 to a wholly owned subsidiary of EnergySource LLC (“EnergySource”) to be used for a geothermal project. The loan’s average outstanding balance for the three months ended March 31, 2014 was $11.8 million. No interest income was accrued or collected in cash on the loan for the three months ended March 31, 2014. For the three months ended March 31, 2013, we recorded income from EnergySource for investment banking and management services of $0.1 million. The project is considered a variable interest entity and the maximum exposure to loss is the net balance of $0.8 million, which represents our current estimate of the realizable sale value of tangible project assets. As previously disclosed, certain of our executive officers and directors own an indirect minority interest in EnergySource following the distribution of the Predecessor’s ownership interest prior to our IPO. We are assessing various options intended to allow us to recover as much of the loan as possible.

We had no other financing receivables or investments on nonaccrual status as of March 31, 2014 and December 31, 2013. There was no provision for credit losses for the three months ended March 31, 2014, or March 31, 2013. We evaluate any modifications to our financing receivables in accordance with the guidance in ASC 310, Receivables. We evaluate modifications of financing receivables to determine if the modification is more than minor, whereby any related fees, such as prepayment fees, would be recognized in income at the time of the modification. We did not have any loan modifications that qualify as trouble debt restructurings for the three months ended March 31, 2014 or 2013.