Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Reconciliation of Increase in Net Assets from Operations to Taxable Income

The following table reconciles increase in net assets resulting from operations to taxable income for the years ended December 31, 2024, 2023 and 2022:

	Year Ended December 31,
	2024		2023		2022
Increase in net assets resulting from operations	$	19,741,835	$	29,789,927	$	16,159,975
Adjustments:
Net change in unrealized depreciation on investments		4,511,639		3,036,660		5,604,979
Other expenses not currently deductible		3,351,362		—		—
Other book-tax differences		2,604,053		95,093		—
Taxable income	$	30,208,889	$	32,921,680	$	21,764,954

Summary of Tax Character of Distributions Paid and Components of Distributable Earnings

The tax character of distributions paid during the years ended December 31, 2024, 2023 and 2022 were as follows:

	Year Ended December 31,
	2024		2023		2022
Ordinary income	$	29,743,979	$	32,068,284	$	21,640,954
Capital gains		—		—		—
Total distributions paid	$	29,743,979	$	32,068,284	$	21,640,954

As of December 31, 2024, 2023, and 2022, the components of distributable earnings on a tax basis were as follows:

	Year Ended December 31,
	2024			2023			2022
Undistributed net investment income	$	1,461,212		$	996,302		$	142,906
Other accumulated gains (losses)		(3,351,757	)		—			—
Other expenses not currently deductible		—			—			—
Net tax unrealized appreciation (depreciation)		(16,760,918	)		(8,897,918	)		(5,861,258	)
Total distributable earnings (deficit)	$	(18,651,463	)	$	(7,901,616	)	$	(5,718,352	)