CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement

6 Months Ended

Jun. 30, 2025

CREDIT FACILITY

Schedule of credit facility net of prepaid loan structure fees

	June 30, 2025		December 31, 2024
Credit Facility payable	$	163,059,680	$	175,386,301
Prepaid loan structure fees		(2,437,240)		(3,071,986)
Credit Facility payable, net of prepaid loan structure fees	$	160,622,440	$	172,314,315

Schedule of interest expense and amortized loan fees

	For the three months ended						For the six months ended
	June 30, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Interest expense	$	2,868,425		$	3,662,035		$	6,757,582		$	6,900,671
Loan fee amortization		319,127			279,672			634,745			544,379
Total interest and financing expenses	$	3,187,552		$	3,941,707		$	7,392,327		$	7,445,050
Weighted average interest rate		7.6	%		8.4	%		7.3	%		8.4	%
Effective interest rate (including fee amortization)		8.4	%		9.0	%		8.0	%		9.1	%
Average debt outstanding	$	152,222,442		$	175,362,520		$	186,115,274		$	164,873,233
Cash paid for interest and unused fees	$	2,901,866		$	3,734,072		$	6,712,888		$	6,914,281