NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

Summary of interest income

	For the years ended
	December 31, 2022		December 31, 2021		December 31, 2020
Loan interest	$	68,026,701	$	55,780,814	$	51,067,006
PIK income		1,357,177		939,030		664,992
Fee amortization income(1)		2,782,309		2,785,964		2,389,223
Fee income acceleration(2)		798,812		2,030,878		1,229,560
Total Interest Income	$	72,964,999	$	61,536,686	$	55,350,781

(1) Includes amortization of fees on unfunded commitments.

(2) Unamortized loan origination fees recognized upon full or partial realization of investment.

Schedule of distributable earnings on the Statements of Assets and Liabilities

	December 31, 2022		December 31, 2021
Accumulated net realized gain from investments, net of cumulative dividends of $29,361,649 and $25,571,955, respectively	$	2,675,719	$	2,810,908
Net unrealized depreciation on non-controlled non-affiliated investments and cash equivalents, net of deferred tax liability of ($61,936) and deferred tax asset of $151,278, respectively		(29,736,797)		(11,981,353)
Net unrealized appreciation on foreign currency translations		6,040		—
Accumulated undistributed net investment income		27,697,264		19,703,039
Total distributable earnings	$	642,226	$	10,532,594