Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands	Jun. 30, 2025		Dec. 31, 2024
Assets
Investments, at fair value	$ 732,215	[1],[2],[3],[4]	$ 557,087	[5],[6],[7],[8],[9]
Cash and cash equivalents	119,319		202,452
Deferred financing costs	9,592		8,575
Interest receivable	3,653		1,848
Other assets	2,327		329
Due from affiliate	438		260
Total assets	867,544		770,551
Liabilities
Secured borrowings (see Note 5)	254,482		208,232
SBA-guaranteed debentures (see Note 5)	230,000		192,505
Distributions payable	8,503		7,853
Incentive fee payable (see Note 6)	1,620		1,578
Management fee payable (see Note 6)	1,585		1,375
Deferred revenue payable	1,505		2,517
Interest and financing payable	4,686		3,044
Accounts payable and accrued expenses	760		649
Income tax payable	564		171
Due to affiliate	744		221
Total liabilities	504,449		418,145
Commitments and Contingencies (See Note 7)
Net assets
Preferred stock, par value $0.001 per share ($50,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024)	0		0
Common stock, par value $0.001 per share ($450,000,000 shares authorized, $24,293,039 and $23,797,438 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively)	24		24
Paid-in capital in excess of par	358,514		351,181
Distributable earnings (losses)	4,557		1,201
Total net assets	363,095		352,406
Total liabilities and net assets	$ 867,544		$ 770,551
Net asset value per common share (in USD per share)	$ 14.95		$ 14.81
Non-controlled/non-affiliated investments
Assets
Investments, at fair value	$ 701,553	[1],[2],[3],[4]	$ 522,935	[5],[6],[7],[8],[9]
Non-controlled/affiliated investments
Assets
Investments, at fair value	22,078	[1],[2],[3],[4]	29,583	[5],[6],[7],[8],[9]
Controlled/affiliated investments
Assets
Investments, at fair value	$ 8,584	[1],[2],[3],[4]	$ 4,569	[5],[6],[7],[8],[9]

[1] Unless otherwise indicated, all investments are considered Level 3 investments. The fair value of the investment was determined using significant unobservable inputs. See Note 4 "Fair Value Measurement of Investments."

[2] Securities exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), and may be deemed to be “restricted securities”. Except as noted by this footnote, all of the instruments on this table are subject to restrictions on resale.

[3] Industries are classified by The Global Industry Classification Standard ("GICS").

[4] All investments are denominated in U.S. dollars unless otherwise noted.

[5] Unless otherwise indicated, all investments are considered Level 3 investments. The fair value of the investment was determined using significant unobservable inputs. See Note 4 "Fair Value Measurement of Investments."

[6] Securities exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), and may be deemed to be “restricted securities”. Except as noted by this footnote, all of the instruments on this table are subject to restrictions on resale.

[7] Represents an investment that is not a “qualifying asset” under Section 55(a) of the Investment Company Act of 1940, as amended (the 1940 Act”). As of December 31, 2024, non-qualifying assets represent 0.9% of the Company’s portfolio at fair value. As a BDC, the Company generally has to invest at least 70% of its total assets in qualifying assets.

[8] Industries are classified by The Global Industry Classification Standard ("GICS").

[9] All investments are denominated in U.S. dollars unless otherwise noted. The prior year table has been modified to conform to the current year.