CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

3 Months Ended

Mar. 31, 2025

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	March 31, 2025		December 31, 2024
Credit Facility payable	$	221,813,920	$	175,386,301
Prepaid loan structure fees		(2,756,366)		(3,071,986)
Credit Facility payable, net of prepaid loan structure fees	$	219,057,554	$	172,314,315

Schedule of interest expense and amortized loan fees

	For the three months ended
	March 31, 2025			March 31, 2024
Interest expense	$	3,889,157		$	3,238,636
Loan fee amortization		315,618			264,707
Total interest and financing expenses	$	4,204,775		$	3,503,343
Weighted average interest rate		7.2	%		8.5	%
Effective interest rate (including fee amortization)		7.7	%		9.1	%
Average debt outstanding	$	220,384,693		$	154,110,158
Cash paid for interest and unused fees	$	3,811,021		$	3,180,209