Consolidated Balance Sheets - USD ($)		Mar. 31, 2024	Dec. 31, 2023
Assets
Loans held for investment		$ 359,317,126	$ 337,238,122
Loan held for investment - related party (Note 7)		16,527,188	16,402,488
Loans held for investment, at carrying value	[1],[2]	375,844,314	353,640,610
Current expected credit loss reserve		(5,356,018)	(4,972,647)
Loans held for investment at carrying value, net		370,488,296	348,667,963
Cash and cash equivalents		6,904,113	7,898,040
Other receivables and assets, net		5,143,318	705,960
Interest receivable		926,852	1,004,140
Related party receivables		192,354	107,225
Debt securities, at fair value			842,269
Total Assets		383,654,933	359,225,597
Liabilities
Revolving loan		81,250,000	66,000,000
Dividend payable		9,007,244	13,866,656
Related party payables		1,819,428	3,243,775
Management and incentive fees payable		1,754,741	2,051,531
Accounts payable and other liabilities		1,342,872	1,135,355
Interest reserve		2,519,871	1,074,889
Total Liabilities		97,694,156	87,372,206
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, par value $0.01 per share, 100,000,000 shares authorized and 19,100,282 and 18,197,192 shares issued and outstanding, respectively		191,003	181,972
Additional paid-in-capital		291,858,521	277,483,092
Accumulated deficit		(6,088,747)	(5,811,673)
Total stockholders’ equity		285,960,777	271,853,391
Total liabilities and stockholders’ equity		$ 383,654,933	$ 359,225,597

[1] Amounts are presented by loan origination year with subsequent advances shown in the original year of origination.

[2] Loan #9 placed on non-accrual status is included in risk rating category “4” and has a reserve for current expected credit losses of approximately $1.3 million as of March 31, 2024 and $1.5 million as of December 31, 2023.