Borrowing (Tables)

6 Months Ended

Jun. 30, 2024

Borrowing [Abstract]

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

The following tables summarize the average debt outstanding and the interest rates on the Secured Credit Facility for the three and six months ended June 30, 2024 and June 30, 2023, respectively:

	For the Three Months Ended June 30,
	2024			2023
Average Debt Outstanding	$	255,000,000		$	1,616,667
Effective Interest Rate		9.24	%		8.49	%
Weighted Average Interest Rate (1)		8.79	%		8.49	%

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

	For the Six Months Ended June 30,
	2024			2023
Average Debt Outstanding	$	238,556,019		$	1,616,667
Effective Interest Rate		9.54	%		8.49	%
Weighted Average Interest Rate (1)		8.80	%		8.49	%

(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 and six months ended June 30, 2024 and June 30, 2023, the components of interest expense related to the Secured Credit Facility were as follows:

	For the Three Months Ended June 30,
	2024		2023
Borrowing interest expense	$	5,589,377	$	22,875
Minimum utilization fee		—		—
Non-utilization fees		113,750		505,639
Amortization of deferred financing costs		171,595		133,881
Total interest and debt financing expense	$	5,874,722	$	662,395

	For the Six Months Ended June 30,
	2024		2023
Borrowing interest expense	$	10,462,158	$	22,875
Minimum utilization fee		261,056		—
Non-utilization fees		280,486		505,639
Amortization of deferred financing costs		343,189		133,881
Total interest and debt financing expense	$	11,346,889	$	662,395