CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

9 Months Ended

Sep. 30, 2024

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	September 30, 2024		December 31, 2023
Credit Facility payable	$	157,374,851	$	160,085,705
Prepaid loan structure fees		(2,796,384)		(3,520,929)
Credit Facility payable, net of prepaid loan structure fees	$	154,578,467	$	156,564,776

Schedule of interest expense and amortized loan fees

	For the three months ended						For the nine months ended
	September 30, 2024			September 30, 2023			September 30, 2024			September 30, 2023
Interest expense	$	3,471,508		$	3,697,085		$	10,372,179		$	11,263,132
Loan fee amortization		281,512			147,014			825,891			436,257
Total interest and financing expenses	$	3,753,020		$	3,844,099		$	11,198,070		$	11,699,389
Weighted average interest rate		8.2	%		8.2	%		8.3	%		7.8	%
Effective interest rate (including fee amortization)		8.9	%		8.6	%		9.0	%		8.1	%
Average debt outstanding	$	168,397,547		$	178,024,719		$	166,056,580		$	193,547,859
Cash paid for interest and unused fees	$	3,617,115		$	3,538,976		$	10,531,396		$	11,125,494