CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

9 Months Ended

Sep. 30, 2022

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	September 30,		December 31,
	2022		2021
Credit Facility payable	$	199,033,419	$	177,340,000
Prepaid loan structure fees		(1,662,188)		(1,888,884)
Credit facility payable, net of prepaid loan structure fees	$	197,371,231	$	175,451,116

Schedule of interest expense and amortized loan fees

	For the three months ended						For the nine months ended
	September 30,			September 30,			September 30,			September 30,
	2022			2021			2022			2021
Interest expense	$	2,575,787		$	1,406,123		$	5,800,223		$	3,873,550
Loan fee amortization		148,121			150,598			420,356			390,298
Total interest and financing expenses	$	2,723,908		$	1,556,721		$	6,220,579		$	4,263,848
Weighted average interest rate		4.9	%		2.8	%		3.8	%		2.8	%
Effective interest rate (including fee amortization)		5.2	%		3.2	%		4.1	%		3.3	%
Average debt outstanding	$	207,437,767		$	191,891,304		$	201,712,826		$	174,057,143
Cash paid for interest and unused fees	$	2,548,660		$	1,415,901		$	5,772,502		$	3,904,908