Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Summary of Carrying Value and Estimated Fair Value of Financial Instruments

The following table presents the carrying value and estimated fair value of the Company’s financial instruments at September 30, 2016 and December 31, 2015:

	September 30, 2016				December 31, 2015
	Carrying		Estimated		Carrying		Estimated
	Value		Fair Value		Value		Fair Value
Cash and Cash Equivalents - Level 1	$	9,041,486	$	9,041,486	$	4,060,677	$	4,060,677
Restricted Cash - Level 1		6,643,732		6,643,732		14,060,523		14,060,523
Commercial Loan Investments - Level 2		23,960,467		23,960,467		38,331,956		38,460,467
Long-Term Debt - Level 2		135,553,756		141,268,301		166,796,853		172,572,305

Summary of fair value of assets and liabilities by Level

The following table presents the fair value of liabilities by Level at September 30, 2016:

			Fair Value at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets		Significant Other		Unobservable
			for Identical		Observable Inputs		Inputs
	9/30/2016		Assets (Level 1)		(Level 2)		(Level 3)
Cash Flow Hedge - Interest Rate Swap	$	366,690	$	—	$	366,690	$	—
Total	$	366,690	$	—	$	366,690	$	—

The following table presents the fair value of assets by Level at December 31, 2015:

			Fair Value at Reporting Date Using
			Quoted Prices in				Significant
			Active Markets		Significant Other		Unobservable
			for Identical		Observable Inputs		Inputs
	12/31/2015		Assets (Level 1)		(Level 2)		(Level 3)
Available-for-Sale Securities
Available-for-Sale Debt Securities	$	802,500	$	—	$	802,500	$	—
Available-for-Sale Equity Securities		4,901,267		4,901,267		—		—
Total Available-for-Sale Securities		5,703,767		4,901,267		802,500		—
Total	$	5,703,767	$	4,901,267	$	802,500	$	—