v3.25.2
Loans Held for Investment - Schedule of Lending Activities (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Reconciliation of Mortgage Loans on Real Estate        
(Provision for) reversal of provision for credit losses $ (1,374,181) $ (2,576,325) $ (3,493,917) $ (4,449,436)
Real Estate Loan        
Reconciliation of Mortgage Loans on Real Estate        
Beginning balance     274,649,145 456,472,258
Principal repayments received     (87,042,899) (110,423,185)
Origination, purchase and funding of loans     15,286,064 42,609,078
Net amortization of premiums on loans     (6,913) (152,872)
Accrual, payment and accretion of investment-related fees and other, net     (1,140,008) 13,887
(Provision for) reversal of provision for credit losses     (3,575,312) (4,166,972)
Ending balance 198,170,077 384,352,194 198,170,077 384,352,194
Real Estate Loan | Loans Held for Investment, Net        
Reconciliation of Mortgage Loans on Real Estate        
Beginning balance     233,571,416 417,913,773
Principal repayments received     (65,826,479) (110,423,185)
Origination, purchase and funding of loans     12,417,776 42,609,078
Net amortization of premiums on loans     (6,913) (152,872)
Accrual, payment and accretion of investment-related fees and other, net     (918,840) 11,674
(Provision for) reversal of provision for credit losses     (4,183,150) (4,141,777)
Ending balance 175,053,810 345,816,691 175,053,810 345,816,691
Real Estate Loan | Loans Held for Investment through Participation Interests, Net        
Reconciliation of Mortgage Loans on Real Estate        
Beginning balance     41,077,729 38,558,485
Principal repayments received     (21,216,420) 0
Origination, purchase and funding of loans     2,868,288 0
Net amortization of premiums on loans     0 0
Accrual, payment and accretion of investment-related fees and other, net     (221,168) 2,213
(Provision for) reversal of provision for credit losses     607,838 (25,195)
Ending balance $ 23,116,267 $ 38,535,503 $ 23,116,267 $ 38,535,503