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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Assets    
Loans receivable $ 54,836,127 $ 45,124,000
Interest receivable on loans 596,777 535,045
Cash 203,682 136,441
Cash - restricted 151,375
Deferred financing costs 42,040 45,269
Other assets 73,131 55,941
Total assets 55,903,132 45,896,696
Liabilities:    
Line of credit 16,622,147 16,914,594
Senior secured notes (net of deferred financing costs of $547,499 and $622,584) 5,452,501 5,377,416
Deferred origination fees 404,676 298,471
Accounts payable and accrued expenses 183,716 167,559
Dividends payable 1,158,717 891,983
Total liabilities 23,821,757 23,650,023
Commitments and contingencies
Stockholders' equity:    
Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued
Common shares - $.001 par value; 25,000,000 authorized; 9,874,191 and 8,319,036 issued; 9,655,977 and 8,108,934 outstanding 9,874 8,319
Additional paid-in capital 33,110,536 23,167,511
Treasury stock, at cost - 218,214 and 210,102 shares (590,234) (541,491)
Accumulated deficit (448,801) (387,666)
Total stockholders' equity 32,081,375 22,246,673
Total liabilities and stockholders' equity $ 55,903,132 $ 45,896,696