CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Assets
Loans held for investment at fair value (cost of $53,744,253 and $50,241,018 at December 31, 2025 and 2024, respectively, net)	$ 26,080,763	$ 30,510,804
Loans held for investment at carrying value, net	253,625,119	293,262,374
Loan receivable held at carrying value, net	0	1,895,638
Current expected credit loss reserve	(46,059,838)	(30,419,677)
Loans held for investment at carrying value and loan receivable held at carrying value, net of current expected credit loss reserve	207,565,281	264,738,335
Cash and cash equivalents	38,605,507	103,610,460
Interest receivable	899,382	1,982,897
Prepaid expenses and other assets	2,443,814	1,214,817
Total assets	275,594,747	402,057,313
Liabilities
Accrued interest	763,180	894,611
Due to affiliate	0	6,754
Dividends payable	0	7,369,866
Current expected credit loss reserve	76,469	166,702
Accrued management and incentive fees	716,181	1,932,246
Accrued direct administrative expenses	374,852	1,197,518
Accounts payable and other liabilities	773,585	501,328
Senior notes payable, net	76,322,493	88,612,150
Total liabilities	100,026,760	200,681,175
Commitments and contingencies (Note 9)
Shareholders’ equity
Preferred stock, par value $0.01 per share, 10,000 shares authorized at December 31, 2025 and 2024 and 0 shares issued and outstanding at December 31, 2025 and 2024, respectively	0	0
Common stock, par value $0.01 per share, 50,000,000 shares authorized at December 31, 2025 and 2024 and 23,528,844 and 22,332,927 shares issued and outstanding at December 31, 2025 and 2024, respectively	235,288	223,329
Additional paid-in capital	258,694,609	251,865,763
Accumulated (deficit) earnings	(83,361,910)	(50,712,954)
Total shareholders’ equity	175,567,987	201,376,138
Total liabilities and shareholders’ equity	275,594,747	402,057,313
Nonrelated Party
Liabilities
Line of credit payable	21,000,000	60,000,000
Line of credit payable to affiliate	21,000,000	60,000,000
Related Party
Liabilities
Line of credit payable	0	40,000,000
Line of credit payable to affiliate	$ 0	$ 40,000,000