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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Interest income from loans $ 1,942,527 $ 1,612,308 $ 3,896,349 $ 3,256,097
Origination fees 456,835 504,455 900,806 975,726
Total revenue 2,399,362 2,116,763 4,797,155 4,231,823
Operating costs and expenses:        
Interest and amortization of deferred financing costs 595,427 376,383 1,241,690 708,236
Referral fees 1,000 1,958 1,292 3,320
General and administrative expenses 400,979 386,238 897,075 747,726
Total operating costs and expenses 997,406 764,579 2,140,057 1,459,282
Income from operations 1,401,956 1,352,184 2,657,098 2,772,541
Other income 20,380 4,500 24,880 9,000
Income before income tax expense 1,422,336 1,356,684 2,681,978 2,781,541
Income tax expense (650) (650) (650) (650)
Net income $ 1,421,686 $ 1,356,034 $ 2,681,328 $ 2,780,891
Basic and diluted net income per common share outstanding:        
—Basic $ 0.12 $ 0.12 $ 0.23 $ 0.24
—Diluted $ 0.12 $ 0.12 $ 0.23 $ 0.24
Weighted average number of common shares outstanding:        
—Basic 11,475,406 11,494,945 11,485,116 11,494,945
—Diluted 11,475,406 11,494,945 11,485,116 11,494,945