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SBA-GUARANTEED DEBENTURES - Schedule of Interest Expense and Amortized Fees on SBA-guaranteed Debentures (Details) - SBA-guaranteed Debentures - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Debt Instrument [Line Items]      
Interest expense $ 10,047,058 $ 8,151,814 $ 6,389,513
Debenture fee amortization 1,255,753 1,227,952 1,088,132
Total interest and financing expenses $ 11,302,811 $ 9,379,766 $ 7,477,645
Weighted average interest rate 3.20% 2.80% 2.80%
Effective interest rate (including fee amortization) 3.50% 3.30% 3.30%
Average debt outstanding $ 318,847,123 $ 288,167,082 $ 227,826,849
Cash paid for interest $ 9,646,849 $ 7,360,295 $ 5,907,676