CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

6 Months Ended

Jun. 30, 2023

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	June 30, 2023		December 31, 2022
Credit Facility payable	$	171,455,223	$	199,200,425
Prepaid loan structure fees		(1,225,902)		(1,515,144)
Credit Facility payable, net of prepaid loan structure fees	$	170,229,321	$	197,685,281

Schedule of interest expense and amortized loan fees

	For the three months ended						For the six months ended
	June 30, 2023			June 30, 2022			June 30, 2023			June 30, 2022
Interest expense	$	3,870,571		$	1,805,978		$	7,566,047		$	3,223,712
Loan fee amortization		145,421			140,420			289,243			272,959
Total interest and financing expenses	$	4,015,992		$	1,946,398		$	7,855,290		$	3,496,671
Weighted average interest rate		7.8	%		3.4	%		7.6	%		3.1	%
Effective interest rate (including fee amortization)		8.1	%		3.8	%		7.9	%		3.5	%
Average debt outstanding	$	198,482,726		$	206,467,162		$	200,490,808		$	199,729,366
Cash paid for interest and unused fees	$	3,953,000		$	1,856,900		$	7,586,518		$	3,230,338