XML 44 R33.htm IDEA: XBRL DOCUMENT v3.25.1
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

​

​