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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended 150 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Jun. 30, 2024
Cash flows from operating activities            
Net increase in net assets resulting from operations $ 8,544,286 $ 3,711,043 $ 21,692,746 $ 8,447,190    
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:            
Purchases of investments     (94,854,139) (87,741,479)    
Proceeds from sales and repayments of investments     71,824,905 44,269,661    
Net change in unrealized (appreciation) depreciation on investments     (17,931,909) 10,544,875    
Net change in unrealized depreciation on foreign currency translations     9,490 18,306    
Increase in investments due to PIK     (1,555,868) (1,904,853)    
Amortization of premium and accretion of discount, net     (1,383,624) (1,360,629) $ (2,749,543)  
Deferred tax (benefit) provision 381,500 65,353 (188,893) 144,113    
Amortization of loan structure fees     544,379 289,243    
Amortization of deferred financing costs     222,747 221,524    
Amortization of loan fees on SBA-guaranteed debentures     550,059 624,358    
Net realized loss on investments     18,392,249 275,621    
Changes in other assets and liabilities            
Increase in interest receivable     (2,780,809) (654,240)    
Increase in income tax receivable     (585,741)      
(Increase) decrease in other receivables     (92,671) 8,876    
Increase in related party receivables       (883)    
Decrease in prepaid expenses     193,937 357,520    
Decrease in management fees payable     (2,066,303) (5,284,818)    
(Decrease) increase in income incentive fees payable     (1,450,096) 711,987    
Decrease in capital gains incentive fees payable       (569,528)    
Increase in administrative services payable     24,023 50,346    
Increase in interest payable     7,256 142,257    
Increase (decrease) in related party payable     337,500 (284,527)    
Increase (decrease) in unearned revenue     174,518 (98,964)    
Decrease in income tax payable       (393,015)    
Increase in other accrued expenses and liabilities     268,894 226,618    
Net Cash Used in Operating Activities     (8,647,350) (31,960,441)    
Cash flows from Financing Activities            
Proceeds from the issuance of common stock     25,777,185 41,448,945   $ 366,900,287
Sales load for common stock issued     (386,987) (614,721)    
Offering costs paid for common stock issued     (133,010) (121,471)    
Stockholder distributions paid     (16,233,650) (13,603,459)    
Financing costs paid on Credit Facility     (66,348)      
Borrowings under Credit Facility     104,400,000 37,000,000    
Repayments of Credit Facility     (94,967,800) (65,267,800)    
Net Cash Provided (Used) by Financing Activities     18,389,390 (1,158,506)    
Net Increase (Decrease) in Cash and Cash Equivalents     9,742,040 (33,118,947)    
Cash and Cash Equivalents Balance at Beginning of Period     26,125,741 48,043,329 48,043,329  
Cash and Cash Equivalents Balance at End of Period $ 35,867,781 $ 14,924,382 35,867,781 14,924,382 $ 26,125,741 $ 35,867,781
Supplemental and Non-Cash Activities            
Cash paid for interest expense     14,559,629 14,711,017    
Income and excise tax paid     1,530,497 1,139,564    
Increase in distributions payable     3,463,267 3,006,969    
Decrease in deferred offering costs     $ (7,312) $ (1,100)