Consolidated Balance Sheets - USD ($)		Mar. 31, 2026		Dec. 31, 2025
Assets
Loans held for investment		$ 332,462,151		$ 332,772,244
Loans held for investment - related party (Note 7)		76,775,335		76,183,323
Loans held for investment, at carrying value	[1]	409,237,486	[2]	408,955,567
Current expected credit loss reserve		(8,680,583)		(5,062,785)
Loans held for investment at carrying value, net		400,556,903		403,892,782
Cash and cash equivalents		27,855,945		14,948,884
Other receivables and assets, net		2,562,700		874,245
Interest receivable		4,907,288		4,009,800
Related party receivables		65,776		1,189,937
Total Assets		435,948,612		424,915,648
Liabilities
Revolving loan		67,050,000		49,100,000
Notes payable, net		49,393,248		49,334,459
Dividend payable		11,347,028		11,157,220
Related party payables		1,453,942		2,214,920
Management and incentive fees payable		1,719,495		3,098,576
Interest payable		310,106		1,348,334
Accounts payable and other liabilities		1,242,135		834,977
Interest reserve		10,000		12,686
Total Liabilities		132,525,954		117,101,172
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, par value $0.01 per share, 100,000,000 shares authorized and 21,080,272 and 21,080,272 shares issued and outstanding, respectively		210,803		210,803
Additional paid-in-capital		323,991,208		323,125,854
Accumulated deficit		(20,779,353)		(15,522,181)
Total stockholders’ equity		303,422,658		307,814,476
Total liabilities and stockholders’ equity		$ 435,948,612		$ 424,915,648

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

[2] Loan #2(a), Loan #6 and Loan #12 were originated in 2021, but were classified as 2022 as of March 31,2026