NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

Summary of interest income

	For the years ended
	December 31, 2024		December 31, 2023		December 31, 2022
Loan interest	$	92,316,007	$	93,976,863	$	68,026,701
PIK income		3,310,111		3,801,637		1,357,177
Fee amortization income(1)		3,074,492		2,954,512		2,782,309
Fee income acceleration(2)		1,185,210		1,283,776		798,812
Total Interest Income	$	99,885,820	$	102,016,788	$	72,964,999

(1) Includes amortization of fees on unfunded commitments.

(2) Unamortized loan origination fees recognized upon full or partial realization of investment.

Schedule of distributable loss on the Consolidated Statements of Assets and Liabilities

	December 31, 2024		December 31, 2023
Accumulated net realized loss from investments, net of cumulative dividends of $30,352,761 for both periods	$	(41,267,707)	$	(24,988,557)
Net realized loss on foreign currency translations		(213,301)		(118,571)
Net unrealized depreciation on non-controlled, non-affiliated investments and cash equivalents, net of deferred tax liability of $0 and $188,893, respectively		(7,312,300)		(27,071,601)
Net unrealized depreciation on foreign currency translations		(15,219)		(464)
Accumulated undistributed net investment income		39,153,714		36,175,872
Total distributable loss	$	(9,654,813)	$	(16,003,321)