INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

INCOME TAXES

Schedule of reconciliation of net increase in net assets resulting from operations to taxable income


		Year ended December 31,
($ in thousands)		2024			2023			2022
Net increase (decrease) in net assets resulting from operations		$	10,851		$	20,412		$	15,683
Change in net unrealized (appreciation) depreciation on investments and foreign currency			8,406			23,247			7,307
Other book-to-tax differences			18,089			205			9,498
Taxable income before deductions for distributions		$	37,346		$	43,864		$	32,488

Schedule of tax character of distributions


		Year ended December 31,
($ in thousands)		2024					2023					2022
Ordinary income		$	41,489		100.0	%	$	36,027		100.0	%	$	34,150		100.0	%
Return of capital			—		—			—		—			—		—
Long-term capital gains			—		—			—		—			—		—
Total distributions		$	41,489		100.0	%	$	36,027		100.0	%	$	34,150		100.0	%

Schedule of tax basis components of distributable earnings


		Year ended December 31,
($ in thousands)		2024			2023			2022
Ordinary income		$	28,366		$	31,874		$	24,217
Accumulated capital and other losses			(27,935)			—			—
Net unrealized (depreciation) appreciation on investments and foreign currency			(54,509)			(54,020)			(22,287)
Distributions deferred			—			—			—
Total (accumulated deficit) distributable earnings – tax basis		$	(54,078)		$	(22,146)		$	1,930