Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 14,700,645	$ 7,798,926
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of commercial mortgage loans held-for-investment discounts	(431,009)	(125,098)
Amortization of commercial mortgage loans held-for-investment premiums	16,201	55,804
Accretion of deferred loan fees	(195,022)	0
Amortization of deferred offering costs	(42,588)	(100,219)
Amortization of deferred financing costs	2,302,706	2,072,877
Provision for credit losses, net	1,166,962	1,872,937
Unrealized loss (gain) on mortgage servicing rights	47,350	(265,910)
Restricted stock compensation expense	6,194	12,547
Net change in:
Accrued interest receivable	(2,809,908)	(281,273)
Other assets	(272,085)	(310,623)
Accrued interest payable	1,472,032	958,090
Fees and expenses payable to Manager	(242,236)	(176,343)
Other liabilities	(205,860)	224,987
Net cash provided by operating activities	15,513,382	11,736,702
Cash flows from investing activities:
Purchase of commercial mortgage loans held-for-investment	(517,608,525)	(269,596,827)
Principal payments from commercial mortgage loans held-for-investment	203,425,029	247,335,751
Net cash (used in) investing activities	(314,183,496)	(22,261,076)
Cash flows from financing activities:
Proceeds from issuance of common stock	0	81,136,045
Proceeds from collateralized loan obligations and secured financings	317,700,000	0
Payment of deferred financing costs	(3,809,453)	(119,375)
Dividends paid on common stock	(9,401,607)	(8,512,687)
Dividends paid on preferred stock	(3,551,250)	(3,551,250)
Net cash provided by financing activities	300,937,690	68,952,733
Net increase in cash, cash equivalents and restricted cash	2,267,576	58,428,359
Cash, cash equivalents and restricted cash, beginning of period	47,366,365	18,279,052
Cash, cash equivalents and restricted cash, end of period	49,633,941	76,707,411
Supplemental disclosure of cash flow information
Cash paid for interest	47,634,719	17,383,416
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	$ 4,657,473	$ 4,135,161