NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2025

NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

Summary of interest income

	For the three months ended				For the six months ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Loan interest	$	22,127,706	$	23,480,314	$	44,478,212	$	46,471,401
PIK income		1,519,405		805,814		2,495,884		1,555,868
Fee amortization income(1)		790,544		750,791		1,551,927		1,522,532
Fee income acceleration(2)		216,550		128,025		255,298		653,630
Total Interest Income	$	24,654,205	$	25,164,944	$	48,781,321	$	50,203,431

(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

	June 30, 2025		December 31, 2024
Accumulated net realized loss from investments, net of cumulative dividends of $30,352,761 for both periods	$	(48,094,955)	$	(41,267,707)
Net realized loss on foreign currency translations		(262,959)		(213,301)
Net unrealized depreciation on non-controlled, non-affiliated investments and cash equivalents, net of deferred tax liability of $0 for both periods		(4,685,340)		(7,312,300)
Net unrealized appreciation (depreciation) on foreign currency translations		23,646		(15,219)
Accumulated undistributed net investment income		36,052,743		39,153,714
Total distributable loss	$	(16,966,865)	$	(9,654,813)