Consolidated Balance Sheets - USD ($)		Sep. 30, 2023		Dec. 31, 2022
Assets
Loans held for investment		$ 322,513,760		$ 339,273,538
Loan held for investment - related party (Note 7)		16,278,729
Loans held for investment, at carrying value	[1]	338,792,489	[2]	339,273,538
Current expected credit loss reserve		(5,112,195)		(3,940,939)
Loans held for investment at carrying value, net		333,680,294		335,332,599
Cash and cash equivalents		8,702,157		5,715,827
Debt securities, at fair value		3,469,340
Interest receivable		2,226,902		1,204,412
Other receivables and assets, net		946,077		1,018,212
Total Assets		352,309,670		343,271,050
Liabilities
Revolving loan		63,000,000		58,000,000
Dividend payable		8,568,252		13,618,591
Management and incentive fees payable		1,601,387		3,295,600
Accounts payable and other liabilities		1,187,591		1,058,128
Interest reserve		498,264		1,868,193
Total Liabilities		76,524,277		79,238,027
Commitments and contingencies (Note 8)
Stockholders’ equity
Common stock, par value $0.01 per share, 100,000,000 shares authorized and 18,182,241 and 17,766,936 shares issued and outstanding, respectively		181,823		176,859
Additional paid-in-capital		276,946,111		268,995,848
Accumulated earnings (deficit)		(1,342,541)		(5,139,684)
Total stockholders’ equity		275,785,393		264,033,023
Total liabilities and stockholders’ equity		352,309,670		343,271,050
Related Party
Assets
Related party receivables		3,284,900
Liabilities
Related party payables		$ 1,668,783		$ 1,397,515

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

[2] Loan #9 placed on non-accrual status is included in risk rating category “4” and has a reserve for current expected credit losses of approximately $1.3 million as of September 30, 2023.