Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 19,714,496	$ 9,863,660
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of commercial mortgage loans held-for-investment discounts	(1,070,701)	(125,098)
Amortization of commercial mortgage loans held-for-investment premiums	19,253	61,144
Accretion of deferred loan fees	(292,073)	(27,084)
Amortization of deferred offering costs	(56,940)	(114,571)
Amortization of deferred financing costs	3,258,892	2,772,870
Provision for credit losses	2,524,216	4,258,668
Unrealized loss/(gain) loss on mortgage servicing rights	103,684	(243,659)
Restricted stock compensation expense	6,194	15,980
Net change in:
Accrued interest receivable	(2,790,814)	(1,820,239)
Other assets	(137,272)	(226,749)
Accrued interest payable	1,731,892	1,656,754
Fees and expenses payable to Manager	(18,458)	(218,809)
Other accounts payable and accrued expenses	1,745,972	436,187
Net cash provided by operating activities	24,738,341	16,289,054
Cash flows from investing activities:
Purchase and origination of commercial mortgage loans held-for-investment	(594,201,680)	(345,921,827)
Principal payments from commercial mortgage loans held-for-investment	277,481,511	293,326,723
Deferred loan fees	0	763,250
Net cash (used in) investing activities	(316,720,169)	(51,831,854)
Cash flows from financing activities:
Proceeds from issuance of common stock	39,896	81,136,045
Dividends paid on common stock	(13,057,788)	(11,646,557)
Dividends paid on preferred stock	(4,740,000)	(4,740,000)
Proceeds from collateralized obligations	317,700,000	0
Payment of deferred financing costs	(3,809,453)	(119,375)
Net cash provided by financing activities	296,132,655	64,630,113
Net increase (decrease) in cash, cash equivalents and restricted cash	4,150,827	29,087,313
Cash, cash equivalents and restricted cash, beginning of period	47,366,365	18,279,052
Cash, cash equivalents and restricted cash, end of period	51,517,192	47,366,365
Supplemental disclosure of cash flow information
Cash paid for interest	69,810,218	28,380,571
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	$ 4,654,904	$ 4,315,119