Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 6,980,182	$ 5,766,691
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of commercial mortgage loans held-for-investment discounts	(711,236)	0
Amortization of commercial mortgage loans held-for-investment premiums	0	5,287
Accretion of deferred loan fees	(57,323)	(64,293)
Amortization of deferred offering costs	(14,196)	(14,040)
Amortization of deferred financing costs	945,782	684,771
Provision for credit losses, net	1,757,456	(179,684)
Unrealized loss (gain) on mortgage servicing rights	(4,627)	49,129
Restricted stock compensation expense	0	3,358
Net change in:
Accrued interest receivable	125,527	(141,184)
Other assets	665,703	(150,577)
Accrued interest payable	(242,085)	144,100
Fees and expenses payable to Manager	1,484,625	(2,333)
Other liabilities	(1,871,916)	(259,282)
Net cash provided by operating activities	9,057,892	5,841,943
Cash flows from investing activities:
Purchase of commercial mortgage loans held-for-investment	0	0
Principal payments from commercial mortgage loans held-for-investment	80,093,383	51,625,741
Net cash (used in) investing activities	80,093,383	51,625,741
Cash flows from financing activities:
Proceeds from issuance of common stock	19,947	0
Payment of collateralized loan obligations	(71,204,206)	0
Dividends paid on common stock	(3,657,404)	(3,133,869)
Dividends paid on preferred stock	(1,181,250)	(1,181,250)
Net cash provided by financing activities	(76,022,913)	(4,315,119)
Net increase in cash, cash equivalents and restricted cash	13,128,362	53,152,565
Cash, cash equivalents and restricted cash, beginning of period	51,517,192	47,366,365
Cash, cash equivalents and restricted cash, end of period	64,645,554	100,518,930
Supplemental disclosure of cash flow information
Cash paid for interest	21,745,268	13,131,087
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	$ 4,659,261	$ 4,318,827