(in thousands of dollars)

Year ended March 31, 2008

	2008	2007
(a) Principal due:
Performing loans	$ 115,446	$ 121,712
Impaired loans	13,687	17,147
	129,133	138,859
Allowance for credit losses (note 8)	33,679	39,000
	95,454	99,859
Less current portion	5,607	6,129
	$ 89,847	$ 93,730

Included in the above loans receivable are loans with concessionary terms which have principal amounts outstanding of $194 (2007 - $327) and concessionary allowance of $23 (2007 - $51). The concessionary terms consist of interest-free financing.

The concessionary allowance is calculated as the difference between the financing advanced and the net present value of the anticipated future repayments at an interest rate similar to the usual established terms of the Corporation.

(b) Principal payments receivable in each of the next five years are as follows: