USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Condensed Consolidated Balance Sheets (Details) - USD ($)		Mar. 31, 2026		Dec. 31, 2025		Mar. 31, 2025	Dec. 31, 2024
ASSETS
Cash, cash equivalents and restricted cash		$ 30,622,015		$ 26,618,082		$ 64,522,059	$ 71,564,098
Other assets	[1]	2,588,447		2,944,179
Accrued interest receivable	[1]	5,551,847		5,428,255
Loans held for investment, net of allowance for credit losses	[1]	1,108,061,062		1,114,047,992
Real estate owned, held-for-sale	[1]	23,040,000		24,099,072
Total assets	[1]	1,204,817,864		1,215,980,159
LIABILITIES
Accrued interest payable	[1]	1,774,654		1,869,876
Collateralized loan obligations and secured financings	[1]	580,302,828		748,433,484
Other liabilities	[1]	2,229,919		2,405,613
Total Liabilities	[1]	988,754,601		996,893,441
Equity		216,063,263	[1]	219,086,718	[1]	$ 232,048,040	$ 237,899,032
Total liabilities and equity	[1]	1,204,817,864		1,215,980,159
Investment related receivable	[1]	0		15,449,323
LMNT 2025-FL3 CLO
ASSETS
Cash, cash equivalents and restricted cash		7,082,122
Other assets		0
Accrued interest receivable		3,566,053
Loans held for investment, net of allowance for credit losses		655,905,140
Real estate owned, held-for-sale		0
Total assets		666,553,315
LIABILITIES
Accrued interest payable		997,422
Collateralized loan obligations and secured financings		580,032,828
Other liabilities		0
Total Liabilities		581,030,250
Equity		85,523,065
Total liabilities and equity		666,553,315
Investment related receivable		$ 0
LMNT 2025-FL3 CLO and LMF 2023-1 Financing
ASSETS
Cash, cash equivalents and restricted cash				2,253,630
Other assets				524,278
Accrued interest receivable				4,309,202
Loans held for investment, net of allowance for credit losses				856,064,489
Real estate owned, held-for-sale				10,906,169
Total assets				889,507,091
LIABILITIES
Accrued interest payable				1,445,867
Collateralized loan obligations and secured financings				748,433,484
Other liabilities				395,205
Total Liabilities				750,274,556
Equity				139,232,535
Total liabilities and equity				889,507,091
Investment related receivable				$ 15,449,323

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of March 31, 2026 and December 31, 2025, assets of consolidated VIEs totaled $666,553,315 and $889,507,091, respectively and the liabilities of consolidated VIEs totaled $581,030,250 and $750,274,556 respectively. See Note 4 for further discussion.