RELATED PARTY ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2025

RELATED PARTY ARRANGEMENTS

Schedule of components of incentive fees

	For the years ended
	December 31, 2025		December 31, 2024		December 31, 2023
Investment income incentive fees incurred	$	2,553,477	$	2,602,793	$	2,097,153
Capital gains incentive fees incurred		221,374		44,545		261,684
Income incentive fee waiver		(851,159)		(867,598)		(699,052)
Incentive fees expense	$	1,923,692	$	1,779,740	$	1,659,785

	December 31, 2025		December 31, 2024
Investment income incentive fee currently payable	$	471,979	$	384,260
Investment income incentive fee deferred		72,641		67,926
Capital gains incentive fee deferred		527,603		306,229
Incentive fee payable	$	1,072,223	$	758,415

Schedule of expenses reimbursed by the Advisor

For the Three	Amount Subject		Amount		Balance Subject		Date of
Months Ended	to Recoupment		Recouped		to Recoupment		Expiration
March 31, 2023		219,880		—		219,880	March 31, 2026
June 30, 2023		139,229		—		139,229	June 30, 2026
September 30, 2023		82,743		—		82,743	September 30, 2026
December 31, 2023		126,539		—		126,539	December 31, 2026
March 31, 2024		197,775		—		197,775	March 31, 2027
June 30, 2024		77,042		—		77,042	June 30, 2027
September 30, 2024		128,331		—		128,331	September 30, 2027
December 31, 2024		161,473		—		161,473	December 31, 2027
March 31, 2025		84,378		—		84,378	March 31, 2028
June 30, 2025		43,764		—		43,764	June 30, 2028
September 30, 2025		1,615		—		1,615	September 30, 2028
December 31, 2025		2,580		—		2,580	December 31, 2028
Totals	$	1,265,349	$	—	$	1,265,349

Schedule of components of expenses reimbursed/fees waived by Investment Advisor

	For the years ended
	December 31, 2025		December 31, 2024		December 31, 2023
Management fee waiver	$	1,626,024	$	2,821,685	$	2,833,601
Income incentive fee waiver		851,159		867,598		699,052
Expense support and conditional reimbursement		132,337		564,621		568,391
Expenses reimbursed/fees waived by Advisor	$	2,609,520	$	4,253,904	$	4,101,044