RELATED PARTY ARRANGEMENTS (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| RELATED PARTY ARRANGEMENTS |
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| Schedule of components of incentive fees |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2025 | | June 30, 2024 | | June 30, 2025 | | June 30, 2024 | Investment income incentive fees incurred | | $ | 625,799 | | $ | 642,470 | | $ | 1,204,114 | | $ | 1,240,871 | Capital gains incentive fees incurred | | | 109,594 | | | (7,817) | | | 272,733 | | | 30,074 | Income incentive fee waiver | | | (208,600) | | | (214,157) | | | (401,371) | | | (413,624) | Incentive fees expense | | $ | 526,793 | | $ | 420,496 | | $ | 1,075,476 | | $ | 857,321 |
| | | | | | | | | June 30, 2025 | | December 31, 2024 | Investment income incentive fee currently payable | | $ | 402,519 | | $ | 384,260 | Investment income incentive fee deferred | | | 85,821 | | | 67,926 | Capital gains incentive fee deferred | | | 578,962 | | | 306,229 | Incentive fee payable | | $ | 1,067,302 | | $ | 758,415 |
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| Schedule of expenses reimbursed by the Advisor |
| | | | | | | | | | | | For the Three | | Amount Subject | | Amount | | Balance Subject | | Date of | Months Ended | | to Recoupment | | Recouped | | to Recoupment | | Expiration | March 31, 2022 | | $ | 157,933 | | $ | — | | $ | — | | March 31, 2025 | June 30, 2022 | | | 87,423 | | | — | | | — | | June 30, 2025 | September 30, 2022 | | | 79,475 | | | — | | | 79,475 | | September 30, 2025 | December 31, 2022 | | | 63,511 | | | — | | | 63,511 | | December 31, 2025 | March 31, 2023 | | | 219,880 | | | — | | | 219,880 | | March 31, 2026 | June 30, 2023 | | | 139,229 | | | — | | | 139,229 | | June 30, 2026 | September 30, 2023 | | | 82,743 | | | — | | | 82,743 | | September 30, 2026 | December 31, 2023 | | | 126,539 | | | — | | | 126,539 | | December 31, 2026 | March 31, 2024 | | | 197,775 | | | — | | | 197,775 | | March 31, 2027 | June 30, 2024 | | | 77,042 | | | — | | | 77,042 | | June 30, 2027 | September 30, 2024 | | | 128,331 | | | — | | | 128,331 | | September 30, 2027 | December 31, 2024 | | | 161,473 | | | — | | | 161,473 | | December 31, 2027 | March 31, 2025 | | | 84,378 | | | — | | | 84,378 | | March 31, 2028 | June 30, 2025 | | | 43,764 | | | — | | | 43,764 | | June 30, 2028 | Totals | | $ | 1,649,496 | | $ | — | | $ | 1,404,140 | | |
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| Schedule of components of expenses reimbursed/fees waived by Investment Advisor |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2025 | | June 30, 2024 | | June 30, 2025 | | June 30, 2024 | Management fee waiver | | $ | 398,700 | | $ | 800,653 | | $ | 743,977 | | $ | 1,601,307 | Income incentive fee waiver | | | 208,600 | | | 214,157 | | | 401,371 | | | 413,624 | Expense support and conditional reimbursement | | | 43,764 | | | 77,042 | | | 128,142 | | | 274,817 | Expenses reimbursed/fees waived by Advisor | | $ | 651,064 | | $ | 1,091,852 | | $ | 1,273,490 | | $ | 2,289,748 |
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