6. NOTES RECEIVABLE

Notes Receivable From Affiliates

As of December 31, 2021, interest on these loans accrued at a fixed rate of 4.025%.

The Company had interest receivable balances on these notes as of December 31, 2021 and 2020 totaling $0.3 million. Interest receivable is included in prepaid and other assets in the accompanying consolidated and combined balance sheets for the periods then ended.

Notes Receivable From Employees

During 2021, the Company executed multiple notes with employees, none of whom are officers or immediate family members of officers, to invest in the Company or the Operating Company. As of December 31, 2021, the aggregate outstanding principal amount outstanding was $4.4 million. These notes mature in 2027 and are interest only for the first two years after origination, after which they accrue interest at 4.025%. The Company had an interest receivable from balances on these notes as of December 31, 2021 totaling approximately $16,000, which is included in receivables from affiliates in the accompanying consolidated and combined balance sheet for the period then ended.

As of December 31, 2020, the Company had multiple notes with employees with an aggregate outstanding principal amount of $7.4 million. These notes were short-term in nature and accrued interest at 4.025%. During the first quarter of 2021 all of the notes from employees were repaid. The Company had interest receivable from balances on these notes as of December 31, 2020 totaling approximately $2,000, which is included in receivables from affiliates in the accompanying consolidated and combined balance sheets.