Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023
Operating activities
Net Income (Loss)	$ 8,730,003		$ 10,692,349
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of deferred loan origination fees and other discounts	(477,756)	[1]	(908,873)	[2]
Paid-in-kind interest	(3,008,593)	[1]	(2,256,228)	[2]
Provision for current expected credit losses	380,279		96,119
Change in unrealized gain on debt securities, at fair value	75,604
Realized gain on debt securities, at fair value	(72,428)
Amortization of deferred debt issuance costs	90,915		167,304
Stock based compensation	531,293		138,335
Changes in operating assets and liabilities:
Interest receivable	77,288		(2,955,336)
Other receivables and assets, net	(97,151)		(19,507)
Interest reserve	1,444,982		(1,648,129)
Related party payables	(296,790)		(127,389)
Related party receivables	(85,129)		(237,885)
Proceeds from the redemption of debt securities, at fair value	839,094
Management and incentive fees payable	(1,424,347)		(1,157,595)
Accounts payable and accrued expenses	210,608		(81,098)
Net cash provided by operating activities	6,917,872		1,702,067
Cash flows from investing activities
Issuance of and fundings of loans held for investment	(22,380,807)		(32,941,660)
Proceeds from sales of loans held for investment			13,399,712
Principal repayment of loans held for investment	3,663,452		44,858,834
Net cash (used in)/provided by investing activities	(18,717,355)		25,316,886
Cash flows from financing activities
Proceeds from sale of common stock	9,811,862		6,000,010
Proceeds from borrowings on revolving loan	28,000,000		28,500,000
Repayment of borrowings on revolving loan	(12,750,000)		(49,000,000)
Dividends paid to common shareholders	(13,866,656)		(13,486,186)
Payment of debt issuance costs	(49,738)		(2,988)
Payment of offering costs	(339,912)		(104,711)
Net cash (used in)/provided by financing activities	10,805,556		(28,093,875)
Net decrease in cash and cash equivalents	(993,927)		(1,074,922)
Cash and cash equivalents, beginning of period	7,898,040		5,715,827
Cash and cash equivalents, end of period	6,904,113		4,640,905
Supplemental disclosure of non-cash financing and investing activities
Interest reserve withheld from funding of loans	2,032,688
OID withheld from funding of loans held for investment	105,081		1,118,340
Subscription receivable from sale of common stock	4,472,690
Dividends declared and not yet paid	9,007,244		8,667,701
Transfer of loan held for investment to loan held for sale			13,399,712
Supplemental information:
Interest paid during the period	$ 1,786,333		$ 1,363,742

[1] The difference between the Carrying Value and the Outstanding Principal amount of the loans consists of unaccreted original issue discount, deferred loan fees and other upfront fees. Outstanding principal balance includes capitalized paid-in-kind (“PIK”) interest, if applicable.

[2] The difference between the Carrying Value and the Outstanding Principal amount of the loans consists of unaccreted original issue discount, deferred loan fees and other upfront fees. Outstanding principal balance includes capitalized PIK interest, if applicable.