Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 11,578,628	$ 8,340,918
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of commercial mortgage loans held-for-investment discounts	(1,423,822)	(1,196)
Amortization of commercial mortgage loans held-for-investment premiums	0	10,687
Accretion of deferred loan fees	(114,645)	(129,300)
Amortization of deferred offering costs	(28,392)	(28,236)
Amortization of deferred financing costs	1,891,575	1,377,153
Provision for credit losses, net	3,134,168	375,399
Unrealized loss on mortgage servicing rights	5,647	48,923
Stock compensation expense	62,442	6,194
Net change in:
Accrued interest receivable	827,666	(67,811)
Other assets	347,074	(374,179)
Accrued interest payable	(727,824)	181,405
Fees and expenses payable to Manager	692,125	53,917
Other liabilities	(1,673,188)	293,818
Net cash provided by operating activities	14,571,454	10,087,692
Cash flows from investing activities:
Purchase of commercial mortgage loans held-for-investment	0	(72,630,053)
Principal payments from commercial mortgage loans held-for-investment	162,272,158	123,583,470
Net cash provided by investing activities	162,272,158	50,953,417
Cash flows from financing activities:
Payment of collateralized loan obligations	(152,082,981)	0
Dividends paid on common stock	(7,315,416)	(6,267,738)
Dividends paid on preferred stock	(2,370,000)	(2,370,000)
Net cash used in financing activities	(161,768,397)	(8,637,738)
Net increase in cash, cash equivalents and restricted cash	15,075,215	52,403,371
Cash, cash equivalents and restricted cash, beginning of period	51,517,192	47,366,365
Cash, cash equivalents and restricted cash, end of period	66,592,407	99,769,736
Supplemental disclosure of cash flow information
Cash paid for interest	42,401,080	27,538,470
Non-cash investing and financing activities information
Dividends declared but not paid at end of period	$ 5,179,519	$ 4,315,119