CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

3 Months Ended

Mar. 31, 2024

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	March 31, 2024		December 31, 2023
Credit Facility payable	$	184,650,119	$	160,085,705
Prepaid loan structure fees		(3,306,190)		(3,520,929)
Credit Facility payable, net of prepaid loan structure fees	$	181,343,929	$	156,564,776

Schedule of interest expense and amortized loan fees

	For the three months ended
	March 31, 2024			March 31, 2023
Interest expense	$	3,238,636		$	3,695,476
Loan fee amortization		264,707			143,822
Total interest and financing expenses	$	3,503,343		$	3,839,298
Weighted average interest rate		8.5	%		7.3	%
Effective interest rate (including fee amortization)		9.1	%		7.6	%
Average debt outstanding	$	154,110,158		$	204,426,259
Cash paid for interest and unused fees	$	3,180,209		$	3,633,518