NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2025

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

Summary of interest income

	For the three months ended
	March 31, 2025		March 31, 2024
Loan interest	$	22,350,506	$	22,991,087
PIK income		976,479		750,054
Fee amortization income(1)		761,383		771,741
Fee income acceleration(2)		38,748		525,605
Total Interest Income	$	24,127,116	$	25,038,487

(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

	March 31, 2025		December 31, 2024
Accumulated net realized loss from investments, net of cumulative dividends of $30,352,761 for both periods	$	(47,234,928)	$	(41,267,707)
Net realized loss on foreign currency translations		(242,956)		(213,301)
Net unrealized depreciation on non-controlled, non-affiliated investments and cash equivalents, net of deferred tax liability of $0 for both periods		(6,119,007)		(7,312,300)
Net unrealized depreciation on foreign currency translations		(6,900)		(15,219)
Accumulated undistributed net investment income		37,855,134		39,153,714
Total distributable loss	$	(15,748,657)	$	(9,654,813)