v3.25.1
FAIR VALUE DISCLOSURES - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
ASSETS:    
Loans $ 129,809,562 [1] $ 151,064,673 [2]
Cash equivalents 6,804,113 4,583,701
Total 136,613,675 155,648,374
Level 1    
ASSETS:    
Loans 0 0
Cash equivalents 6,804,113 4,583,701
Total 6,804,113 4,583,701
Level 2    
ASSETS:    
Loans 0 0
Cash equivalents 0 0
Total 0 0
Level 3    
ASSETS:    
Loans 129,809,562 151,064,673
Cash equivalents 0 0
Total $ 129,809,562 $ 151,064,673
[1] There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.
[2] There is no readily available market price or secondary market for the Fund’s loan investments, hence the Manager determines fair value of all loan investments presented in the Condensed Schedule of Investments based on a most advantageous market and the estimates may include the use of significant unobservable inputs.