Interest Receivable

3 Months Ended

Mar. 31, 2023

Interest Receivable [Abstract]

INTEREST RECEIVABLE

4. INTEREST RECEIVABLE

The following table summarizes the interest receivable by the Company as of March 31, 2023 and December 31, 2022:

	As of March 31, 2023		As of December 31, 2022
Interest receivable	$	4,113,589	$	1,203,330
PIK interest receivable		33,548		1,082
Unused fees receivable		12,611		-
Total interest receivable	$	4,159,748	$	1,204,412

The following table presents aging analyses of past due loans by class as of March 31, 2023 and December 31, 2022, respectively:

	As of March 31, 2023
	Current Loans(1)		31 - 60 Days Past Due		61 - 90 Days Past Due		90+ Days Past Due (and accruing)		Non-Accrual		Total Past Due		Total Loans
Interest receivable	$	3,754,242	$	405,506	$	-	$	-	$	-	$	405,506	$	4,159,748
Principal receivable		407,734		516,000		-		-		-		516,000		923,734
Total	$	4,161,976	$	921,506	$	-	$	-	$	-	$	921,506	$	5,083,482

	As of December 31, 2022
	Current Loans(1)		31 - 60 Days Past Due		61 - 90 Days Past Due		90+ Days Past Due (and accruing)		Non-Accrual		Total Past Due		Total Loans
Interest receivable	$	1,203,088	$	1,324	$	-	$	-	$	-	$	1,324	$	1,204,412
Total	$	1,203,088	$	1,324	$	-	$	-	$	-	$	1,324	$	1,204,412

(1) Loans 1-30 days past due are included in the current loans.

As of March 31, 2023, there were four loans with principal or interest greater than 30 days past due.