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RELATED PARTY TRANSACTIONS - Additional Information (Details)
3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
contract
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Related Party Transaction [Line Items]        
Annual management fee (percentage)     1.50%  
Quarterly management fee percentage (as a percent)     0.375%  
Reimbursable expenses $ 404,907 $ 577,666 $ 875,074 $ 1,087,652
Waived exit fees (Percent) 1.00%   1.00%  
Compensation expense     $ 62,442 6,194
Restricted Stock Units (RSUs)        
Related Party Transaction [Line Items]        
Compensation expense     $ 0 6,194
Manager Equity Plan        
Related Party Transaction [Line Items]        
Percentage of shares issued     3.00%  
Manager Equity Plan | Restricted Stock Units (RSUs)        
Related Party Transaction [Line Items]        
Unrecognized compensation expense $ 0   $ 0  
Affiliated Entity        
Related Party Transaction [Line Items]        
Management fee expense 1,120,989 1,093,374 2,209,196 2,180,636
Fees and expenses payable to Manager 1,095,000 1,084,000 1,095,000 1,084,000
Incentive fee expense 691,752 0 2,171,752 0
Incentive fee payable 684,000 0 684,000 0
Reimbursable expenses 404,907 577,666 875,074 1,087,652
Reimbursable expenses payable $ 501,000 $ 576,250 $ 501,000 $ 576,250
Reduction to reimbursable expenses as a percentage of exit fees waived (percent) 50.00% 50.00% 50.00% 50.00%
Reimbursable expenses waived $ 0 $ 167,500 $ 175,000 $ 167,500
Reimbursable expense reduction   $ 83,750 $ 87,500 $ 83,750
Hunt Investment Management, LLC | Affiliated Entity        
Related Party Transaction [Line Items]        
Quarterly incentive fee percentage (as a percent)     20.00%  
Hurdle rate percentage (as a percent)     8.00%  
Length of renewal terms     1 year  
Lument IM | LMF 2023-1 Financing        
Related Party Transaction [Line Items]        
Debt issuance costs $ 1,100,000   $ 1,100,000  
Lument Structured Finance | Affiliated Entity | 2021-FL1 CLO | Loan Purchase One        
Related Party Transaction [Line Items]        
Number of loans purchased | contract   2    
Unpaid principal balance of purchased loans   $ 48,600,000    
Lument Structured Finance | Affiliated Entity | 2021-FL1 CLO | Loan Purchase Two        
Related Party Transaction [Line Items]        
Number of loans purchased | contract   2    
Unpaid principal balance of purchased loans   $ 1,700,000    
Lument Structured Finance | Affiliated Entity | 2021-FL1 CLO | Loan Purchase Three        
Related Party Transaction [Line Items]        
Number of loans purchased | contract   1    
Unpaid principal balance of purchased loans   $ 6,100,000    
Payments to acquire finance receivables, discount   $ 100,000    
Lument Structured Finance | Affiliated Entity | 2021-FL1 CLO | Loan Purchase Four        
Related Party Transaction [Line Items]        
Number of loans purchased | contract   17    
Unpaid principal balance of purchased loans   $ 16,500,000    
Payments to acquire finance receivables, discount   $ 200,000