XML 72 R62.htm IDEA: XBRL DOCUMENT v3.23.2
SBA-GUARANTEED DEBENTURES - Schedule of Interest Expense and Amortized Fees on SBA-guaranteed Debentures (Details) - SBA-guaranteed Debentures - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Debt Instrument [Line Items]        
Interest expense $ 2,443,009 $ 1,941,979 $ 4,843,727 $ 3,666,260
Debenture fee amortization 306,850 305,877 624,358 589,020
Total interest and financing expenses $ 2,749,859 $ 2,247,856 $ 5,468,085 $ 4,255,280
Weighted average interest rate 3.10% 2.70% 3.10% 2.70%
Effective interest rate (including fee amortization) 3.50% 3.10% 3.50% 3.20%
Average debt outstanding $ 313,600,000 $ 287,769,066 $ 313,600,000 $ 271,088,315
Cash paid for interest     $ 4,680,999 $ 3,405,071