CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

6 Months Ended

Jun. 30, 2024

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	June 30, 2024		December 31, 2023
Credit Facility payable	$	169,438,912	$	160,085,705
Prepaid loan structure fees		(3,042,897)		(3,520,929)
Credit Facility payable, net of prepaid loan structure fees	$	166,396,015	$	156,564,776

Schedule of interest expense and amortized loan fees

	For the three months ended						For the six months ended
	June 30, 2024			June 30, 2023			June 30, 2024			June 30, 2023
Interest expense	$	3,662,035		$	3,870,571		$	6,900,671		$	7,566,047
Loan fee amortization		279,672			145,421			544,379			289,243
Total interest and financing expenses	$	3,941,707		$	4,015,992		$	7,445,050		$	7,855,290
Weighted average interest rate		8.4	%		7.8	%		8.4	%		7.6	%
Effective interest rate (including fee amortization)		9.0	%		8.1	%		9.1	%		7.9	%
Average debt outstanding	$	175,362,520		$	198,482,726		$	164,873,233		$	200,490,808
Cash paid for interest and unused fees	$	3,734,072		$	3,953,000		$	6,914,281		$	7,586,518