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SBA-GUARANTEED DEBENTURES - Schedule of Interest Expense and Amortized Fees on SBA-guaranteed Debentures (Details) - SBA-guaranteed Debentures - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Debt Instrument [Line Items]        
Interest expense $ 2,559,727 $ 2,076,751 $ 7,403,454 $ 5,743,011
Debenture fee amortization 313,889 316,274 938,247 905,294
Total interest and financing expenses $ 2,873,616 $ 2,393,025 $ 8,341,701 $ 6,648,305
Weighted average interest rate 3.10% 2.80% 3.10% 2.70%
Effective interest rate (including fee amortization) 3.50% 3.20% 3.50% 3.20%
Average debt outstanding $ 323,017,391 $ 299,556,522 $ 316,773,626 $ 280,681,996
Cash paid for interest $ 4,965,850 $ 3,955,224 $ 9,646,849 $ 7,360,295