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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net increase (decrease) in net assets resulting from operations $ 18,885,676 $ 18,771,553 $ 9,993,933
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided (used in) operating activities:      
Net realized (gain) loss on investments (3,899,990) (45,283) (43,607)
Net change in unrealized (gain) loss on investments (552,900) 3,449,646 817,733
Net accretion of discounts and amortization of premiums (1,015,506) (1,382,244) (862,570)
Purchases of investments (51,077,026) (90,635,833) (217,512,647)
Proceeds from sales of investments 5,295,629 2,679,712 7,971,150
Proceeds from principal payments 55,868,600 15,101,932 10,026,750
Amortization of deferred financing costs 593,706 627,611 440,322
Payment-in-kind interest income (4,538,785) (3,189,791) (495,426)
Changes in operating assets and liabilities:      
Interest receivable (595,234) (418,765) (2,242,657)
Prepaid expenses (6,748) 0 0
Management fees payable, net of fee waivers (Note 6) 36,097 71,420 292,472
Incentive fees payable, net of fee waivers (Note 6) (1,147,821) 3,961,476 (225,883)
Credit facility interest payable (1,378,413) 1,362,066 2,111,450
Deferred tax liabilities 6,094,196 0 0
Other payables 531,146 181,769 46,821
Professional fees payable 126,607 113,061 83,824
Legal fees payable 10,921 585 1,245
Reimbursement expense payable (1,795) 43,193 35,877
Net cash provided by (used in) operating activities 23,228,429 (49,307,892) (189,561,213)
Cash flows from financing activities:      
Proceeds from issuance of common shares 62,330,215 38,647,846 96,073,431
Payments in repurchase of shares (19,240,596) (16,552,049) (2,564,753)
Proceeds from credit facility 49,000,000 96,000,000 188,000,000
Repayments of credit facility (103,000,000) (72,500,000) (69,000,000)
Distributions paid (11,418,922) (10,200,810) (4,263,621)
Deferred financing and debt issuance costs paid (1,916,001) 0 (1,623,630)
Net cash provided by (used in) financing activities (24,245,304) 35,394,987 206,028,351
Net increase (decrease) in cash (1,016,875) (13,912,905) 16,467,138
Cash, beginning of period 5,045,540 18,958,445 2,491,307
Cash, end of period 4,028,665 5,045,540 18,958,445
Supplemental disclosures of cash flow information:      
Interest received in kind 4,538,785 3,189,791 495,426
Shares issued from dividend reinvestment plan (see Note 10) 10,544,876 10,177,951 3,345,327
Supplemental Information:      
Cash paid for interest 12,509,009 10,626,030 2,731,891
Cash paid for federal income taxes $ 147,404 $ 0 $ 0