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Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Statement of Financial Position [Abstract]    
Loans held for investment $ 331,075,547 $ 196,984,566
Current expected credit loss reserve (1,497,933) (134,542)
Loans held for investment at carrying value, net 329,577,614 196,850,024
Cash 9,331,530 80,248,526
Interest receivable 727,279 197,735
Other receivables and assets, net 844,486 874,170
Total Assets 340,480,909 278,170,455
Liabilities    
Revolving Loan 53,000,000
Dividend payable 8,435,222 4,537,924
Interest reserve 5,625,979 6,636,553
Management and incentive fees payable 1,347,421 802,294
Related party payable 1,203,030 1,902,829
Accounts payable and other liabilities 716,463 212,887
Total Liabilities 70,328,115 14,092,487
Commitments and contingencies (Note 8)
Stockholders’ equity    
Common stock, par value $0.01 per share, 100,000,000 shares authorized at September 30, 2022 and December 31, 2021, respectively, and 17,742,915 and 17,453,553 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 176,579 173,551
Additional paid-in-capital 268,888,861 264,081,977
Accumulated earnings (deficit) 1,087,354 (177,560)
Total stockholders’ equity 270,152,794 264,077,968
Total liabilities and stockholders’ equity $ 340,480,909 $ 278,170,455