Consolidated Balance Sheets - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Assets
Loans held for investment		$ 365,460,179	$ 337,238,122
Loan held for investment - related party (Note 7)		16,402,488	16,402,488
Loans held for investment, at carrying value	[1],[2]	381,862,667	353,640,610
Current expected credit loss reserve		(5,080,547)	(4,972,647)
Loans held for investment at carrying value, net		376,782,120	348,667,963
Cash and cash equivalents		7,070,883	7,898,040
Other receivables and assets, net		628,814	705,960
Interest receivable		1,169,611	1,004,140
Related party receivables		838,876	107,225
Debt securities, at fair value			842,269
Total Assets		386,490,304	359,225,597
Liabilities
Revolving loan		76,750,000	66,000,000
Dividend payable		9,256,736	13,866,656
Related party payables		1,950,416	2,051,531
Management and incentive fees payable		1,774,880	3,243,775
Accounts payable and other liabilities		1,541,560	1,135,355
Interest reserve		2,491,807	1,074,889
Total Liabilities		93,765,399	87,372,206
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, par value $0.01 per share, 100,000,000 shares authorized and 19,624,458 and 18,197,192 shares issued and outstanding, respectively		196,245	181,972
Additional paid-in-capital		298,922,624	277,483,092
Accumulated deficit		(6,393,964)	(5,811,673)
Total stockholders’ equity		292,724,905	271,853,391
Total liabilities and stockholders’ equity		$ 386,490,304	$ 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 $1.7 million as of June 30, 2024 and $1.5 million as of December 31, 2023.