Consolidated Balance Sheets - USD ($)		Mar. 31, 2025	Dec. 31, 2024
Assets
Loans held for investment		$ 360,987,934	$ 364,238,847
Loans held for investment - related party (Note 8)		38,467,545	38,238,199
Loans held for investment, at carrying value	[1]	399,455,479	402,477,046
Current expected credit loss reserve		(3,274,058)	(4,346,869)
Loans held for investment at carrying value, net		396,181,421	398,130,177
Loans, at fair value - related party		5,335,000	5,335,000
Cash and cash equivalents		9,879,177	26,400,448
Other receivables and assets, net		525,277	459,187
Interest receivable		1,515,898	1,453,823
Related party receivables		1,228,559	3,370,339
Total Assets		414,665,332	435,148,974
Liabilities
Revolving loan		38,000,000	55,000,000
Notes payable, net		49,155,713	49,096,250
Dividend payable		9,820,079	13,605,153
Related party payables		1,586,509	2,043,403
Management and incentive fees payable		1,735,533	2,863,158
Accounts payable and other liabilities		2,539,925	2,285,035
Interest reserve		547,526	1,297,878
Payable for investment purchased		500,000
Total Liabilities		103,885,285	126,190,877
Commitments and contingencies (Note 9)
Stockholders’ equity
Common stock, par value $0.01 per share, 100,000,000 shares authorized and 20,893,785 and 20,829,228 shares issued and outstanding, respectively		208,938	208,292
Additional paid-in-capital		320,486,840	318,886,768
Accumulated deficit		(9,915,731)	(10,136,963)
Total stockholders’ equity		310,780,047	308,958,097
Total liabilities and stockholders’ equity		$ 414,665,332	$ 435,148,974

[1] Amounts are presented by loan origination year with subsequent advances on delayed draw facilities shown in the initial year of origination.