Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies [Abstract]

Note 6: Commitments and Contingencies

In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. As of March 31, 2024, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications.

From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of March 31, 2024, management is not aware of any pending or threatened material litigation.

The Company may, from time to time, enter into commitments to fund investments. As of March 31, 2024, the Company had the following outstanding commitments to fund investments in current portfolio companies:


	March 31, 2024		December 31, 2023
Unfunded delayed draw term loan commitments	$	12,917,647	$	8,336,031
Unfunded revolver obligations		8,557,078		6,067,963
Total Unfunded	$	21,474,725	$	14,403,994

The Consolidated Schedule of Investments include certain delayed draw and revolving loan facilities with unfunded balances at March 31, 2024 and December 31, 2023, as follows:


Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of March 31, 2024
The Action Environmental Group, Inc.	Delayed Draw Term Loan	10/24/2030		130,435		-
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		744
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(1,667	)
BP Loenbro Holdings Inc	Delayed Draw Term Loan	2/1/2029		1,834,862		(13,310	)
BP Loenbro Holdings Inc	Revolver	2/1/2029		1,834,862		(26,619	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(65,422	)
MEI Buyer LLC	Revolver	6/29/2029		2,650,602		(71,964	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(34,487	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,222	)
Sales Performance International, LLC	Revolver	8/24/2028		2,303,030		(43,067	)
RSC Acquisition, Inc.	Delayed Draw Term Loan	11/1/2029		1,117,143		5,586
Ryan, LLC	Delayed Draw Term Loan	11/14/2030		190,476		835
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		900,548		(14,589	)
Voltagrid LLC	Delayed Draw Term Loan	9/1/2025		3,453,750		(132,451	)
Total Unfunded Balances			$	21,474,725	$	(430,633	)


Issuer	Commitment Type	Commitment Expiration Date	Unfunded Commitment		Fair Value as of December 31, 2023
Aramsco, Inc.	Delayed Draw Term Loan	10/10/2030		445,545		(927	)
Imagefirst Holdings, LLC	Delayed Draw Term Loan	4/27/2028		666,667		(3,333	)
MEI Buyer LLC	Delayed Draw Term Loan	6/29/2029		2,409,639		(48,313	)
MEI Buyer LLC	Revolver	6/29/2029		2,602,410		(73,778	)
PetVet Care Centers, LLC	Delayed Draw Term Loan	11/15/2029		1,768,583		(17,354	)
PetVet Care Centers, LLC	Revolver	11/15/2030		1,768,583		(34,430	)
RSC Acquisition Inc	Delayed Draw Term Loan	11/1/2029		1,638,571		(16,386	)
Ryan LLC	Delayed Draw Term Loan	11/14/2030		190,476		417
Sales Performance International, LLC	Revolver	8/24/2028		1,696,970		(32,893	)
Tank Holding Corp	Delayed Draw Term Loan	3/31/2028		1,086,115		(46,160	)
The Action Environmental Group	Delayed Draw Term Loan	10/24/2030		130,435		326
Total Unfunded Balances			$	14,403,994	$	(272,831	)