Consolidated Balance Sheets - USD ($)		Dec. 31, 2024	Dec. 31, 2023
Assets
Loans held for investment		$ 364,238,847	$ 337,238,122
Loans held for investment - related party (Note 9)		38,238,199	16,402,488
Loans held for investment, at carrying value	[1]	402,477,046	353,640,610
Current expected credit loss reserve		(4,346,869)	(4,972,647)
Loans held for investment at carrying value, net		398,130,177	348,667,963
Loans, at fair value - related party		5,335,000	0
Cash and cash equivalents		26,400,448	7,898,040
Other receivables and assets, net		459,187	705,960
Interest receivable		1,453,823	1,004,140
Related party receivables		3,370,339	107,225
Debt securities, at fair value			842,269
Total Assets		435,148,974	359,225,597
Liabilities
Revolving loan		55,000,000	66,000,000
Notes payable, net		49,096,250
Dividend payable		13,605,153	13,866,656
Related party payables		2,043,403	2,051,531
Management and incentive fees payable		2,863,158	3,243,775
Accounts payable and other liabilities		2,285,035	1,135,355
Interest reserve		1,297,878	1,074,889
Total Liabilities		126,190,877	87,372,206
Commitments and contingencies (Note 10)
Stockholders’ equity
Common stock, par value $0.01 per share, 100,000,000 shares authorized and 20,829,228 and 18,197,192 shares issued and outstanding, respectively		208,292	181,972
Additional paid-in-capital		318,886,768	277,483,092
Accumulated deficit		(10,136,963)	(5,811,673)
Total stockholders’ equity		308,958,097	271,853,391
Total liabilities and stockholders’ equity		$ 435,148,974	$ 359,225,597

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