CREDIT FACILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Revolving credit facility

Line of Credit Facility [Line Items]

Summary of interest expense and amortized financing costs on Commitment and Credit Facilities

	Year Ended
	December 31, 2023
Interest expense	$	3,238,826
Loan structure fees amortization		220,496
Total interest and other fees	$	3,459,322
Weighted average interest rate		7.0
Effective interest rate (including fee amortization)		7.5
Average debt outstanding	$	46,230,110
Cash paid for interest and unused fees	$	3,654,730

Senior Secured Revolving Credit Agreement

Line of Credit Facility [Line Items]

Summary of Commitment and Credit Facilities

	December 31, 2025		December 31, 2024
Credit Facility payable	$	128,650,000	$	90,450,000
Prepaid loan structure fees		(2,637,237)		(972,372)
Credit Facility payable, net of prepaid loan structure fees	$	126,012,763	$	89,477,628

SPV Facility

Line of Credit Facility [Line Items]

Summary of Commitment and Credit Facilities

	December 31, 2025		December 31, 2024
SPV Facility payable	$	75,000,000	$	50,000,000
Prepaid loan structure fees		(731,092)		(784,768)
SPV Facility payable, net of prepaid loan structure fees	$	74,268,908	$	49,215,232

Summary of interest expense and amortized financing costs on Commitment and Credit Facilities

	Year Ended
	December 31, 2025			December 31, 2024
Interest expense	$	3,616,904		$	1,559,287
Facility agent fee		106,424			75,000
Loan structure fees amortization		146,703			58,915
Total interest and other fees	$	3,870,031		$	1,693,202
Weighted average interest rate		6.6	%		7.5	%(1)
Effective interest rate (including fee amortization)		7.1	%		8.1	%(1)
Average debt outstanding	$	54,863,014		$	50,000,000	(1)
Cash paid for interest and unused fees	$	3,674,506		$	1,331,839

(1) Calculated for the period from August 1, 2024, the date of the SPV Facility, through December 31, 2024.