Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024		Jun. 30, 2023
Operating activities
Net income	$ 17,914,076		$ 19,335,727
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of deferred loan origination fees and other discounts	(847,315)	[1]	(1,433,293)	[2]
Paid-in-kind interest	(5,802,004)	[1]	(4,345,434)	[2]
Provision for current expected credit losses	104,808		1,235,231
Change in unrealized gain on debt securities, at fair value	75,604
Realized gain on debt securities, at fair value	(72,428)
Amortization of debt issuance costs	182,593		259,102
Stock based compensation	1,367,626		402,179
Changes in operating assets and liabilities:
Interest receivable	(165,471)		209,600
Other receivables and assets, net	7,682		(119,819)
Interest reserve	1,416,918		(1,526,242)
Related party payables	(101,115)		204,258
Related party receivables	(731,651)		(237,885)
Purchase of debt securities, at fair value			(877,610)
Proceeds from the redemption of debt securities, at fair value	839,094
Management and incentive fees payable	(1,468,895)		(1,495,933)
Accounts payable and accrued expenses	409,296		302,891
Net cash provided by operating activities	13,128,818		11,912,772
Cash flows from investing activities
Issuance of and fundings of loans held for investment	(43,211,078)		(34,791,660)
Principal repayment of loans held for investment	21,638,340		51,907,313
Proceeds from sales of loans held for investment			13,399,712
Net cash (used in)/provided by investing activities	(21,572,738)		30,515,365
Cash flows from financing activities
Proceeds from sale of common stock	20,753,235		7,222,363
Proceeds from borrowings on revolving loan	44,000,000		34,000,000
Repayment of borrowings on revolving loan	(33,250,000)		(49,000,000)
Dividends paid to common shareholders	(23,106,453)		(22,004,274)
Payment of debt issuance costs	(113,129)		(56,791)
Payment of offering costs	(666,890)		(284,574)
Net cash provided by/(used in) financing activities	7,616,763		(30,123,276)
Net (decrease) increase in cash and cash equivalents	(827,157)		12,304,861
Cash and cash equivalents, beginning of period	7,898,040		5,715,827
Cash and cash equivalents, end of period	7,070,883		18,020,688
Supplemental disclosure of non-cash financing and investing activities
Interest reserve withheld from funding of loans	2,815,325
OID withheld from funding of loans held for investment	161,080		1,118,340
Dividends declared and not yet paid	9,256,736		8,708,161
Transfer of loan held for investment to loan held for sale			13,399,712
Supplemental information:
Interest paid during the period	$ 3,649,153		$ 2,442,866

[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.