CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

9 Months Ended

Sep. 30, 2023

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	September 30, 2023		December 31, 2022
Credit Facility payable	$	162,306,499	$	199,200,425
Prepaid loan structure fees		(1,113,887)		(1,515,144)
Credit Facility payable, net of prepaid loan structure fees	$	161,192,612	$	197,685,281

Schedule of interest expense and amortized loan fees

	For the three months ended						For the nine months ended
	September 30, 2023			September 30, 2022			September 30, 2023			September 30, 2022
Interest expense	$	3,697,085		$	2,575,787		$	11,263,132		$	5,800,223
Loan fee amortization		147,014			148,121			436,257			420,356
Total interest and financing expenses	$	3,844,099		$	2,723,908		$	11,699,389		$	6,220,579
Weighted average interest rate		8.2	%		4.9	%		7.8	%		3.8	%
Effective interest rate (including fee amortization)		8.6	%		5.2	%		8.1	%		4.1	%
Average debt outstanding	$	178,024,719		$	207,437,767		$	193,547,859		$	201,712,826
Cash paid for interest and unused fees	$	3,538,976		$	2,548,660		$	11,125,494		$	5,772,502