FAIR VALUE FAIR VALUE - Fair Value Information on Financial Instruments (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 7,164,246	$ 7,882,862
Restricted cash	42,877,535	51,330,950
Total assets	657,354,399	679,352,035
Collateralized loan obligations	504,946,473	503,978,918
Secured Term Loan	39,229,194	0
Total liabilities	548,488,277	529,148,697
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	7,164,246	7,882,862
Restricted cash	42,877,535	51,330,950
Commercial mortgage loans held-for-investment	599,770,362	555,172,891
Cash held in securitization trusts, at fair value		24,357,335
Total assets	649,812,143	638,744,038
Collateralized loan obligations	504,946,473	503,978,918
Secured Term Loan	39,229,194
Total liabilities	544,175,667	503,978,918
Face Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	7,146,246	7,882,862
Restricted cash	42,877,535	51,330,950
Commercial mortgage loans held-for-investment	599,770,362	555,172,891
Cash held in securitization trusts, at fair value		24,357,335
Total assets	649,794,143	638,744,038
Collateralized loan obligations	510,181,000	510,181,000
Secured Term Loan	40,250,000
Total liabilities	550,431,000	510,181,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	7,146,246	7,882,862
Restricted cash	42,877,535	51,330,950
Commercial mortgage loans held-for-investment	599,770,362	555,172,891
Cash held in securitization trusts, at fair value		24,357,335
Total assets	649,794,143	638,744,038
Collateralized loan obligations	509,822,129	509,000,439
Secured Term Loan	41,500,576
Total liabilities	$ 551,322,705	$ 509,000,439

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Collateralized Loan Obligations

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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The balance represents the amount of loans that are secured by real estate mortgages, offset by the reserve to cover probable credit losses on the loan portfolio.

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Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

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Carrying amount of collateralized debt obligations with maturities initially due after one year or beyond the operating cycle, if longer, excluding the current portion. Obligations include, but not limited to, mortgage loans, chattel loans, and other borrowings secured by assets.

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