NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

Summary of interest income

	For the years ended
	December 31, 2023		December 31, 2022		December 31, 2021
Loan interest	$	93,976,863	$	68,026,701	$	55,780,814
PIK income		3,801,637		1,357,177		939,030
Fee amortization income(1)		2,954,512		2,782,309		2,785,964
Fee income acceleration(2)		1,283,776		798,812		2,030,878
Total Interest Income	$	102,016,788	$	72,964,999	$	61,536,686

(1) Includes amortization of fees on unfunded commitments.

(2) Unamortized loan origination fees recognized upon full or partial realization of investment.

Schedule of distributable earnings on the Statements of Assets and Liabilities

	December 31, 2023		December 31, 2022
Accumulated net realized (loss) gain from investments, net of cumulative dividends of $29,808,394 and $29,361,649, respectively	$	(25,107,128)	$	2,675,719
Net unrealized depreciation on non-controlled, non-affiliated investments and cash equivalents, net of deferred tax liability of $188,893 and $61,936, respectively		(27,071,601)		(29,736,797)
Net unrealized (depreciation) appreciation on foreign currency translations		(464)		6,040
Accumulated undistributed net investment income		36,175,872		27,697,264
Total distributable (loss) earnings	$	(16,003,321)	$	642,226