as a result of these and other issues , new customer acquisition and credit quality were both relatively flat with the prior year and anticipated improvements in margins were not realized . additionally , we experienced a significant increase in uk costs related to complaints by claims management companies as well as higher legal costs related to several company initiatives . we expect to implement the new technology and credit models during the first half of 2019 , with full benefits realized by the second quarter of 2019 . 79 we use our working capital , funds provided by third-party lenders pursuant to cso programs and our credit facility with victory park management , llc ( `` vpc ” ) to fund the loans we make to our customers . prior to january 2014 , we funded all of our loans to customers out of our existing cash flows . on january 30 , 2014 , we entered into an agreement with vpc to provide a credit facility ( “ vpc facility ” ) in order to fund our rise and sunny products and provide working capital . since originally entering into the vpc facility , it has been amended several times to increase the maximum total borrowing amount available from the original amount of $ 250 million to approximately $ 433 million at december 31 , 2018 . on february 7 , 2019 , both the vpc facility and the espv facility were amended to , among other things : reduce the facilities ' pricing ; provide over $ 1 billion in commitments split between the various vpc facilities ; provide for a 20 % revolver in the first quarter of each year for each product facility and a 25 bps reduction in cost of funds in both 2020 and 2021 subject to meeting certain net income thresholds ; and extend the maturity date to january 1 , 2024 ( except for the $ 35 million in 4th tranche term note which continues to have a maturity date of february 2021 ) . the february 7 , 2019 amendments also provided for additional financial covenants applicable to the company under the facilities . see “ —liquidity and capital resources—debt facilities . ” beginning in the fourth quarter of 2018 , the company also licenses its rise installment loan brand to a third-party lender , finwise bank , which originates rise installment loans in 16 states . finwise bank retains 5 % of the balances of all loans originated and then sells a 95 % loan participation in those rise installment loans to a third-party special purpose vehicle , ef spv , ltd. ( `` ef spv `` ) . we do not own ef spv , but we have a credit default protection agreement with ef spv whereby we provide credit protection to the investors in ef spv against the rise installment loan losses in return for a credit premium . per the terms of this agreement , under us gaap , the company is the primary beneficiary of ef spv and is required to consolidate the financial results of ef spv as a variable interest entity in its consolidated financial results . the consolidated financial statements include revenue , losses and loans receivable related to the 95 % of rise installment loans originated by finwise bank and sold to ef spv . these loan participation purchases are funded through the vpc facility and through cash flows from operations generated by ef spv . the elastic line of credit product is originated by a third-party lender , republic bank , which initially provides all of the funding for that product . republic bank retains 10 % of the balances of all loans originated and sells a 90 % loan participation in the elastic lines of credit . an spv structure was implemented such that the loan participations are sold by republic bank to elastic spv , ltd. ( “ elastic spv ” ) and elastic spv receives its funding from vpc in a separate financing facility ( the “ espv facility ” ) , which was finalized on july 13 , 2015. we do not own elastic spv but we have a credit default protection agreement with elastic spv whereby we provide credit protection to the investors in elastic spv against elastic loan losses in return for a credit premium . per the terms of this agreement , under us gaap , the company is the primary beneficiary of elastic spv and is required to consolidate the financial results of elastic spv as a variable interest entity in its consolidated financial results . the espv facility has been amended several times and the original commitment amount of $ 50 million has grown to $ 250 million as of december 31 , 2018 . see “ —liquidity and capital resources—debt facilities . ” 80 our management assesses our financial performance and future strategic goals through key metrics based primarily on the following three themes : revenue growth . revenues increased by $ 113.6 million , or 17 % , from $ 673.1 million for the year ended december 31 , 2017 to $ 786.7 million for the year ended december 31 , 2018 . for the year ended december 31 , 2017 , our total revenues increased 16 % as compared to 2016 , increasing from $ 580.4 million to $ 673.1 million . key metrics related to revenue growth that we monitor by product include the ending and average combined loan balances outstanding , the effective apr of our product loan portfolios , the total dollar value of loans originated , the number of new customer loans made , the ending number of customer loans outstanding and the related customer acquisition costs ( “ cac ” ) associated with each new customer loan made . we include cac as a key metric when analyzing revenue growth ( rather than as a key metric within margin expansion ) . story_separator_special_tag additional provision for loan losses is the amount of provision for loan losses needed for a particular period to adjust the combined loan loss reserve to the appropriate level in accordance with our underlying loan loss reserve methodology . additional provision for loan losses relates to an increase in future inherent losses in the loan portfolio as determined by our loan loss reserve methodology . this increase could be due to a combination of factors such as an increase in the size of the loan portfolio or a worsening of credit quality or increase in past due loans . it is also possible for the additional provision for loan losses for a period to be a negative amount , which would reduce the amount of the combined loan loss reserve needed ( due to a decrease in the loan portfolio or improvement in credit quality ) . the amount of additional provision for loan losses is seasonal in nature , mirroring the seasonality of our new customer acquisition and overall loan portfolio growth , as discussed above . the combined loan loss reserve typically decreases during the first quarter or first half of the calendar year due to a decrease in the loan portfolio from year end . then , as the rate of growth for the loan portfolio starts to increase during the second half of the year , additional provision for loan losses is typically needed to increase the reserve for future losses associated with the loan growth . because of this , our provision for loan losses can vary significantly throughout the year without a significant change in the credit quality of our portfolio . 86 the following provides an example of the application of our loan loss reserve methodology and the break out of the provision for loan losses between the portion associated with replenishing the reserve due to net charge-offs and the amount related to the additional provision for loan losses . if the beginning combined loan loss reserve were $ 25 million , and we incurred $ 10 million of net charge-offs during the period and the ending combined loan loss reserve needed to be $ 30 million according to our loan loss reserve methodology , our total provision for loan losses would be $ 15 million , comprising $ 10 million in net charge-offs ( provision needed to replenish the combined loan loss reserve ) plus $ 5 million of additional provision related to an increase in future inherent losses in the loan portfolio identified by our loan loss reserve methodology . example ( dollars in thousands ) beginning combined loan loss reserve $ 25,000 less : net charge-offs ( 10,000 ) provision for loan losses : provision for net charge-offs 10,000 additional provision for loan losses 5,000 total provision for loan losses 15,000 ending combined loan loss reserve balance $ 30,000 loan loss reserve methodology . our loan loss reserve methodology is calculated separately for each product and , in the case of rise loans originated under the state lending model ( including cso program loans ) , is calculated separately based on the state in which each customer resides to account for varying state license requirements that affect the amount of the loan offered , repayment terms and other factors . for each product , loss factors are calculated based on the delinquency status of customer loan balances : current , 1 to 30 days past due or 31 to 60 days past due . these loss factors for loans in each delinquency status are based on average historical loss rates by product ( or state ) associated with each of these three delinquency categories . hence , another key credit quality metric we monitor is the percentage of past due combined loans receivable – principal , as an increase in past due loans will cause an increase in our combined loan loss reserve and related additional provision for loan losses to increase the reserve . for customers that are not past due , we further stratify these loans into loss rates by payment number , as a new customer that is about to make a first loan payment has a significantly higher risk of loss than a customer who has successfully made ten payments on an existing loan with us . based on this methodology , during the past three years we have seen our combined loan loss reserve as a percentage of combined loans receivable fluctuate between approximately 13 % and 17 % depending on the overall mix of new , former and past due customer loans . recent trends . for the year ended december 31 , 2018 , net charge-offs as a percentage of revenues totaled 52 % and fluctuated within a quarterly range of 12 % to 14 % when measuring net principal charge-offs as a percentage of average combined loans receivable -principal . in balancing the growth , mix and credit quality of our loan portfolio , we aim to manage net charge-offs as a percentage of revenues between 45 % and 55 % on an annual basis . over the past three years , our range of net charge-offs as a percentage of revenues is approximately 52 % and was within our targeted range . we expect our annual net charge-offs as a percentage of revenues will trend lower in future periods due to continued improvements in our underwriting and the ongoing maturation of the loan portfolio , though there may be quarterly volatility in this metric . total loan loss provision for the year ended december 31 , 2018 was 52 % of revenues , lower than 53 % for the year ended december 31 , 2017 due to slower loan growth in the fourth quarter of 2018 as compared to the same period in 2017. the company typically experiences strong loan growth and a corresponding increase in total loan loss provision during the second half of every year . however , during

debt facilities vpc facility vpc facility term notes on january 30 , 2014 , we entered into the vpc facility in order to fund our rise and sunny products and provide working capital . since originally entering into the vpc facility , it has been amended several times to increase the maximum total borrowing amount available and other terms of the vpc facility and to add a term note for ef spv . 109 the vpc facility provided the following term notes as of december 31 , 2018 : us term note and ef spv term note with a combined maximum borrowing amount of $ 350 million at a base rate ( defined as the 3-month libor with a 1 % floor ) plus 11 % for the outstanding balance used to fund the rise and ef spv loan portfolios , respectively . the company entered into an interest rate cap on january 11 , 2018 to mitigate the floating rate interest risk on the $ 240 million outstanding as of december 31 , 2018. uk term note with a maximum borrowing amount of approximately $ 48 million at a base rate ( defined as the 3-month libor rate ) plus 14 % used to fund the sunny loan portfolio . 4 th tranche term note with a maximum borrowing amount of $ 35 million bearing interest at a base rate ( defined as the 3-month libor , with a 1 % floor ) plus 13 % used to fund working capital . all of our assets are pledged as collateral to secure the vpc facility .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt facilities vpc facility vpc facility term notes on january 30 , 2014 , we entered into the vpc facility in order to fund our rise and sunny products and provide working capital . since originally entering into the vpc facility , it has been amended several times to increase the maximum total borrowing amount available and other terms of the vpc facility and to add a term note for ef spv . 109 the vpc facility provided the following term notes as of december 31 , 2018 : us term note and ef spv term note with a combined maximum borrowing amount of $ 350 million at a base rate ( defined as the 3-month libor with a 1 % floor ) plus 11 % for the outstanding balance used to fund the rise and ef spv loan portfolios , respectively . the company entered into an interest rate cap on january 11 , 2018 to mitigate the floating rate interest risk on the $ 240 million outstanding as of december 31 , 2018. uk term note with a maximum borrowing amount of approximately $ 48 million at a base rate ( defined as the 3-month libor rate ) plus 14 % used to fund the sunny loan portfolio . 4 th tranche term note with a maximum borrowing amount of $ 35 million bearing interest at a base rate ( defined as the 3-month libor , with a 1 % floor ) plus 13 % used to fund working capital . all of our assets are pledged as collateral to secure the vpc facility .
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 Suspicious Activity Report : as a result of these and other issues , new customer acquisition and credit quality were both relatively flat with the prior year and anticipated improvements in margins were not realized . additionally , we experienced a significant increase in uk costs related to complaints by claims management companies as well as higher legal costs related to several company initiatives . we expect to implement the new technology and credit models during the first half of 2019 , with full benefits realized by the second quarter of 2019 . 79 we use our working capital , funds provided by third-party lenders pursuant to cso programs and our credit facility with victory park management , llc ( `` vpc ” ) to fund the loans we make to our customers . prior to january 2014 , we funded all of our loans to customers out of our existing cash flows . on january 30 , 2014 , we entered into an agreement with vpc to provide a credit facility ( “ vpc facility ” ) in order to fund our rise and sunny products and provide working capital . since originally entering into the vpc facility , it has been amended several times to increase the maximum total borrowing amount available from the original amount of $ 250 million to approximately $ 433 million at december 31 , 2018 . on february 7 , 2019 , both the vpc facility and the espv facility were amended to , among other things : reduce the facilities ' pricing ; provide over $ 1 billion in commitments split between the various vpc facilities ; provide for a 20 % revolver in the first quarter of each year for each product facility and a 25 bps reduction in cost of funds in both 2020 and 2021 subject to meeting certain net income thresholds ; and extend the maturity date to january 1 , 2024 ( except for the $ 35 million in 4th tranche term note which continues to have a maturity date of february 2021 ) . the february 7 , 2019 amendments also provided for additional financial covenants applicable to the company under the facilities . see “ —liquidity and capital resources—debt facilities . ” beginning in the fourth quarter of 2018 , the company also licenses its rise installment loan brand to a third-party lender , finwise bank , which originates rise installment loans in 16 states . finwise bank retains 5 % of the balances of all loans originated and then sells a 95 % loan participation in those rise installment loans to a third-party special purpose vehicle , ef spv , ltd. ( `` ef spv `` ) . we do not own ef spv , but we have a credit default protection agreement with ef spv whereby we provide credit protection to the investors in ef spv against the rise installment loan losses in return for a credit premium . per the terms of this agreement , under us gaap , the company is the primary beneficiary of ef spv and is required to consolidate the financial results of ef spv as a variable interest entity in its consolidated financial results . the consolidated financial statements include revenue , losses and loans receivable related to the 95 % of rise installment loans originated by finwise bank and sold to ef spv . these loan participation purchases are funded through the vpc facility and through cash flows from operations generated by ef spv . the elastic line of credit product is originated by a third-party lender , republic bank , which initially provides all of the funding for that product . republic bank retains 10 % of the balances of all loans originated and sells a 90 % loan participation in the elastic lines of credit . an spv structure was implemented such that the loan participations are sold by republic bank to elastic spv , ltd. ( “ elastic spv ” ) and elastic spv receives its funding from vpc in a separate financing facility ( the “ espv facility ” ) , which was finalized on july 13 , 2015. we do not own elastic spv but we have a credit default protection agreement with elastic spv whereby we provide credit protection to the investors in elastic spv against elastic loan losses in return for a credit premium . per the terms of this agreement , under us gaap , the company is the primary beneficiary of elastic spv and is required to consolidate the financial results of elastic spv as a variable interest entity in its consolidated financial results . the espv facility has been amended several times and the original commitment amount of $ 50 million has grown to $ 250 million as of december 31 , 2018 . see “ —liquidity and capital resources—debt facilities . ” 80 our management assesses our financial performance and future strategic goals through key metrics based primarily on the following three themes : revenue growth . revenues increased by $ 113.6 million , or 17 % , from $ 673.1 million for the year ended december 31 , 2017 to $ 786.7 million for the year ended december 31 , 2018 . for the year ended december 31 , 2017 , our total revenues increased 16 % as compared to 2016 , increasing from $ 580.4 million to $ 673.1 million . key metrics related to revenue growth that we monitor by product include the ending and average combined loan balances outstanding , the effective apr of our product loan portfolios , the total dollar value of loans originated , the number of new customer loans made , the ending number of customer loans outstanding and the related customer acquisition costs ( “ cac ” ) associated with each new customer loan made . we include cac as a key metric when analyzing revenue growth ( rather than as a key metric within margin expansion ) . story_separator_special_tag additional provision for loan losses is the amount of provision for loan losses needed for a particular period to adjust the combined loan loss reserve to the appropriate level in accordance with our underlying loan loss reserve methodology . additional provision for loan losses relates to an increase in future inherent losses in the loan portfolio as determined by our loan loss reserve methodology . this increase could be due to a combination of factors such as an increase in the size of the loan portfolio or a worsening of credit quality or increase in past due loans . it is also possible for the additional provision for loan losses for a period to be a negative amount , which would reduce the amount of the combined loan loss reserve needed ( due to a decrease in the loan portfolio or improvement in credit quality ) . the amount of additional provision for loan losses is seasonal in nature , mirroring the seasonality of our new customer acquisition and overall loan portfolio growth , as discussed above . the combined loan loss reserve typically decreases during the first quarter or first half of the calendar year due to a decrease in the loan portfolio from year end . then , as the rate of growth for the loan portfolio starts to increase during the second half of the year , additional provision for loan losses is typically needed to increase the reserve for future losses associated with the loan growth . because of this , our provision for loan losses can vary significantly throughout the year without a significant change in the credit quality of our portfolio . 86 the following provides an example of the application of our loan loss reserve methodology and the break out of the provision for loan losses between the portion associated with replenishing the reserve due to net charge-offs and the amount related to the additional provision for loan losses . if the beginning combined loan loss reserve were $ 25 million , and we incurred $ 10 million of net charge-offs during the period and the ending combined loan loss reserve needed to be $ 30 million according to our loan loss reserve methodology , our total provision for loan losses would be $ 15 million , comprising $ 10 million in net charge-offs ( provision needed to replenish the combined loan loss reserve ) plus $ 5 million of additional provision related to an increase in future inherent losses in the loan portfolio identified by our loan loss reserve methodology . example ( dollars in thousands ) beginning combined loan loss reserve $ 25,000 less : net charge-offs ( 10,000 ) provision for loan losses : provision for net charge-offs 10,000 additional provision for loan losses 5,000 total provision for loan losses 15,000 ending combined loan loss reserve balance $ 30,000 loan loss reserve methodology . our loan loss reserve methodology is calculated separately for each product and , in the case of rise loans originated under the state lending model ( including cso program loans ) , is calculated separately based on the state in which each customer resides to account for varying state license requirements that affect the amount of the loan offered , repayment terms and other factors . for each product , loss factors are calculated based on the delinquency status of customer loan balances : current , 1 to 30 days past due or 31 to 60 days past due . these loss factors for loans in each delinquency status are based on average historical loss rates by product ( or state ) associated with each of these three delinquency categories . hence , another key credit quality metric we monitor is the percentage of past due combined loans receivable – principal , as an increase in past due loans will cause an increase in our combined loan loss reserve and related additional provision for loan losses to increase the reserve . for customers that are not past due , we further stratify these loans into loss rates by payment number , as a new customer that is about to make a first loan payment has a significantly higher risk of loss than a customer who has successfully made ten payments on an existing loan with us . based on this methodology , during the past three years we have seen our combined loan loss reserve as a percentage of combined loans receivable fluctuate between approximately 13 % and 17 % depending on the overall mix of new , former and past due customer loans . recent trends . for the year ended december 31 , 2018 , net charge-offs as a percentage of revenues totaled 52 % and fluctuated within a quarterly range of 12 % to 14 % when measuring net principal charge-offs as a percentage of average combined loans receivable -principal . in balancing the growth , mix and credit quality of our loan portfolio , we aim to manage net charge-offs as a percentage of revenues between 45 % and 55 % on an annual basis . over the past three years , our range of net charge-offs as a percentage of revenues is approximately 52 % and was within our targeted range . we expect our annual net charge-offs as a percentage of revenues will trend lower in future periods due to continued improvements in our underwriting and the ongoing maturation of the loan portfolio , though there may be quarterly volatility in this metric . total loan loss provision for the year ended december 31 , 2018 was 52 % of revenues , lower than 53 % for the year ended december 31 , 2017 due to slower loan growth in the fourth quarter of 2018 as compared to the same period in 2017. the company typically experiences strong loan growth and a corresponding increase in total loan loss provision during the second half of every year . however , during

