Borrowing (Tables)

3 Months Ended

Mar. 31, 2024

Borrowing [Abstract]

Summary of Average Debt Outstanding and Interest Rates on Secured Credit Facility

The following table summarizes the average debt outstanding and the interest rates on the Secured Credit Facility for the three months ended March 31, 2024:

	For the Three Months Ended March 31, 2024			For the Three Months Ended March 31, 2023
Average Debt Outstanding	$	222,112,038		$	—
Effective Interest Rate		9.88	%		—
Weighted Average Interest Rate (1)		8.80	%		—

(1)The calculation of weighted average interest rate does not include minimum utilization fees, non-utilization fees or the amortization of deferred financing costs.

Interest Expense Related to Secured Credit Facility

For the three months ended March 31, 2024, the components of interest expense related to the Secured Credit Facility were as follows:

	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Borrowing interest expense	$	4,872,781	$	—
Minimum utilization fee		261,056		—
Non-utilization fees		166,736		—
Amortization of deferred financing costs		171,595		—
Total interest and debt financing expense	$	5,472,168	$	—