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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
12 Months Ended 127 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2022
Cash flows from operating activities        
Net increase in net assets resulting from operations $ 14,491,784 $ 33,572,872 $ 20,192,441  
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:        
Purchases of investments (211,010,869) (387,281,160) (152,007,165)  
Proceeds from sales and repayments of investments 127,548,194 287,639,512 128,627,422  
Net change in unrealized depreciation (appreciation) on investments 17,542,230 6,928,160 (8,555,274)  
Net change in unrealized appreciation foreign currency translations (5,897)      
Increase in investments due to PIK (1,357,177) (939,030) (664,992)  
Amortization of premium and accretion of discount, net (2,519,462) (2,412,991) (2,098,788)  
Deferred tax provision (benefit) 213,214 (510,868) 224,877  
Amortization of loan structure fees 567,375 518,930 647,872  
Amortization of deferred financing costs 446,719 444,153 333,316  
Amortization of loan fees on SBA-guaranteed debentures 1,227,952 1,088,132 701,068  
Net realized (gain) loss on investments (3,660,595) (23,703,499) 10,129,859  
Loss on debt extinguishment   539,250    
Changes in other assets and liabilities        
(Increase) decrease in interest receivable (1,039,810) (755,151) 725,262  
Decrease (increase) in other receivable 20,507 (29,257)    
Increase in prepaid expenses (155,053) (25,026) (118,967)  
Increase in management fees payable 3,696,182 628,903 129,542  
Increase (decrease) in income incentive fees payable 715,278 1,067,470 (936,849)  
(Decrease) increase in capital gains incentive fees payable (2,818,623) 2,867,130 (359,892)  
Decrease in administrative services payable (29,449) (5,123) (21,787)  
Increase (decrease) in interest payable 947,179 1,549,577 (178,229)  
Increase in related party payable 1,060,321      
(Decrease) increase in unearned revenue (209,051) 6,302 (36,344)  
(Decrease) increase in income tax payable (2,094,141) 2,544,749 (192,235)  
Increase (decrease) in other accrued expenses and liabilities 136,635 164,227 (28,730)  
Net Cash Used in Operating Activities (56,286,557) (76,102,738) (3,487,593)  
Cash flows from Financing Activities        
Proceeds from the issuance of common stock 2,158,540 449,515 4,794,994 $ 279,492,923
Sales load for common stock issued (31,066) (2,489) (18,169)  
Offering costs paid for common stock issued (517,054) (53,327) (95,681)  
Stockholder distributions paid (26,594,095) (21,044,928) (24,341,646)  
Repayment of Notes   (48,875,000)    
Proceeds from issuance of Notes   100,000,000    
Financing costs paid on Notes   (2,237,835)    
Proceeds from SBA-guaranteed debentures 63,600,000 73,500,000 15,500,000  
Financing costs paid on SBA-guaranteed debentures (1,548,660) (3,139,725) (577,425)  
Financing costs paid on Credit facility (193,635) (136,219) (1,880,099)  
Borrowings under Credit Facility 149,888,800 268,700,000 120,950,000  
Repayments of Credit Facility (126,607,800) (265,360,000) (108,500,000)  
Partial share redemption     (94)  
Net Cash Provided by Financing Activities 60,155,030 101,799,992 5,831,880  
Net Increase in Cash and Cash Equivalents 3,868,473 25,697,254 2,344,287  
Cash and Cash Equivalents Balance at Beginning of Period 44,174,856 18,477,602 16,133,315  
Cash and Cash Equivalents Balance at End of Period 48,043,329 44,174,856 18,477,602 $ 48,043,329
Supplemental and Non-Cash Activities        
Cash paid for interest expense 21,280,060 15,099,656 14,441,061  
Income and excise tax paid 3,255,809 1,445,000 940,000  
Shares issued pursuant to Dividend Reinvestment Plan     228,943  
(Decrease) increase in dividends payable (1,171,059) 1,171,059 (2,167,630)  
(Decrease) increase in deferred offering costs $ (13,788) (75,112) $ 90,000  
Gain on conversion of equity investment   $ 6,668