USE OF SPECIAL PURPOSE ENTITIES AND VARIABLE INTEREST ENTITIES - Condensed Consolidated Balance Sheets (Details) - USD ($)		Sep. 30, 2025		Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024		Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash, cash equivalents and restricted cash		$ 56,845,996				$ 71,564,098		$ 65,078,483			$ 51,517,192
Other assets	[1]	3,305,441				1,632,041
Accrued interest receivable	[1]	4,413,591				5,945,874
Investment related receivable	[1]	10,615,094				0
Loans held for investment, net of allowance for credit losses	[1]	821,843,480				1,048,803,078
Real estate owned, held-for-investment, net	[1]	49,258,301				0
Real estate owned, held-for-sale	[1]	8,871,841				0
Total assets	[1]	955,719,357				1,128,594,378
LIABILITIES
Accrued interest payable	[1]	2,017,943				2,697,963
Collateralized loan obligations and secured financings	[1]	669,775,299				828,390,189
Other liabilities	[1],[2]	1,650,130				672,816
Total liabilities	[1]	725,647,056				890,695,346
Equity		230,072,301	[1]	$ 231,455,804	$ 232,048,040	237,899,032	[1]	$ 243,144,222	$ 242,195,026	$ 242,935,302	$ 240,792,380
Total liabilities and equity	[1]	955,719,357				1,128,594,378
2021-FL1 CLO and LMF 2023-1
ASSETS
Cash, cash equivalents and restricted cash		824,398				2,391,042
Other assets		1,315,309				0
Accrued interest receivable		4,393,005				5,861,355
Investment related receivable		10,615,094				0
Loans held for investment, net of allowance for credit losses		819,117,267				1,049,886,009
Real estate owned, held-for-investment, net		49,258,301				0
Real estate owned, held-for-sale		8,871,841				0
Total assets		894,395,215				1,058,138,406
LIABILITIES
Accrued interest payable		1,923,935				2,611,416
Collateralized loan obligations and secured financings		669,775,299				828,390,189
Other liabilities		886,586				0
Total liabilities		672,585,820				831,001,605
Equity		221,809,395				227,136,801
Total liabilities and equity		$ 894,395,215				$ 1,058,138,406

[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of September 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $894,395,215 and $1,058,138,406, respectively and the liabilities of consolidated VIEs totaled $672,585,820 and $831,001,605 respectively. See Note 4 for further discussion.

[2] Includes $9,554 and $57,554 of Current Expected Credit Loss ("CECL") allowance related to unfunded commitments on commercial mortgage loans, net as of September 30, 2025 and December 31, 2024, respectively.