FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Changes in Fair Value of Level 3 Investments (Details)
|
3 Months Ended |
6 Months Ended |
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
loan
|
Dec. 31, 2025
USD ($)
loan
|
Dec. 31, 2024
USD ($)
loan
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Number of lien loans transferred out of Level 3 to Level 2 | loan |
|
0
|
1
|
0
|
| Number of lien loans transferred out of Level 2 to Level 3 | loan |
|
2
|
|
2
|
| Investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning balance |
$ 56,095,873
|
$ 58,167,531
|
$ 62,003,175
|
$ 41,500,649
|
| Net realized and unrealized gains (losses) on investments |
182,152
|
(113,956)
|
500,969
|
(310,747)
|
| Purchases of investments |
0
|
5,832,070
|
4,619,693
|
27,852,956
|
| Restructuring of investments |
|
(961,877)
|
|
(961,877)
|
| Payment-in-kind interest |
102,631
|
97,706
|
134,187
|
166,986
|
| Accretion (amortization) of purchase discount and premium, net |
76,446
|
97,210
|
127,099
|
251,426
|
| Net Reductions to Subordinated Structured Notes and related investment cost |
(67,691)
|
(215,294)
|
(179,940)
|
(387,267)
|
| Repayments and sales of portfolio investments |
(3,228,443)
|
(5,154,091)
|
(11,361,671)
|
(10,362,827)
|
| Transfers into Level 3 |
0
|
7,641,484
|
0
|
7,641,484
|
| Transfers out of Level 3 |
0
|
0
|
(2,682,544)
|
0
|
| Fair value, ending balance |
53,160,968
|
65,390,783
|
53,160,968
|
65,390,783
|
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period |
410,628
|
344,967
|
812,386
|
516,298
|
| Investments | Debt and Equity Securities, Realized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
(831,205)
|
(394,194)
|
(994,669)
|
(1,168,421)
|
| Investments | Debt and Equity Securities, Unrealized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
1,013,357
|
280,238
|
1,495,638
|
857,674
|
| Senior Secured Loans-First Lien |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning balance |
50,111,613
|
52,968,985
|
56,231,804
|
36,140,975
|
| Net realized and unrealized gains (losses) on investments |
78,418
|
80,148
|
155,231
|
463,357
|
| Purchases of investments |
0
|
5,832,070
|
4,462,306
|
27,852,956
|
| Restructuring of investments |
|
(961,877)
|
|
(1,541,215)
|
| Payment-in-kind interest |
79,369
|
78,879
|
110,925
|
129,120
|
| Accretion (amortization) of purchase discount and premium, net |
76,446
|
102,809
|
127,099
|
264,557
|
| Net Reductions to Subordinated Structured Notes and related investment cost |
0
|
0
|
0
|
0
|
| Repayments and sales of portfolio investments |
(3,228,443)
|
(5,136,451)
|
(11,287,418)
|
(10,345,187)
|
| Transfers into Level 3 |
0
|
7,641,484
|
0
|
7,641,484
|
| Transfers out of Level 3 |
0
|
0
|
(2,682,544)
|
0
|
| Fair value, ending balance |
47,117,403
|
60,606,047
|
47,117,403
|
60,606,047
|
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period |
125,237
|
144,877
|
95,493
|
121,981
|
| Senior Secured Loans-First Lien | Debt and Equity Securities, Realized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
(649,548)
|
0
|
(576,639)
|
0
|
| Senior Secured Loans-First Lien | Debt and Equity Securities, Unrealized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
727,966
|
80,148
|
731,870
|
463,357
|
| Senior Secured Loans-Second Lien |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning balance |
2,557,387
|
1,594,778
|
2,500,000
|
1,559,701
|
| Net realized and unrealized gains (losses) on investments |
0
|
38,244
|
0
|
61,814
|
| Purchases of investments |
0
|
0
|
57,387
|
0
|
| Restructuring of investments |
|
0
|
|
0
|
| Payment-in-kind interest |
0
|
18,827
|
0
|
37,866
|
| Accretion (amortization) of purchase discount and premium, net |
0
|
(5,599)
|
0
|
(13,131)
|
| Net Reductions to Subordinated Structured Notes and related investment cost |
0
|
0
|
0
|
0
|
| Repayments and sales of portfolio investments |
0
|
(17,640)
|
0
|
(17,640)
|
| Transfers into Level 3 |
0
|
0
|
0
|
0
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
| Fair value, ending balance |
2,557,387
|
1,628,610
|
2,557,387
|
1,628,610
|
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period |
0
|
38,244
|
0
|
61,814
|
| Senior Secured Loans-Second Lien | Debt and Equity Securities, Realized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
0
|
0
|
0
|
0
|
| Senior Secured Loans-Second Lien | Debt and Equity Securities, Unrealized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
0
|
38,244
|
0
|
61,814
|
| Structured Subordinated Notes |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning balance |
366,014
|
2,551,477
|
709,261
|
2,956,672
|
| Net realized and unrealized gains (losses) on investments |
(128,613)
|
(357,751)
|
(285,358)
|
(590,973)
|
| Purchases of investments |
0
|
0
|
0
|
0
|
| Restructuring of investments |
|
0
|
|
0
|
| Payment-in-kind interest |
0
|
0
|
0
|
0
|
| Accretion (amortization) of purchase discount and premium, net |
0
|
0
|
0
|
0
|
| Net Reductions to Subordinated Structured Notes and related investment cost |
(67,691)
|
(215,294)
|
(179,940)
|
(387,267)
|
| Repayments and sales of portfolio investments |
0
|
0
|
(74,253)
|
0
|
| Transfers into Level 3 |
0
|
0
|
0
|
0
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
| Fair value, ending balance |
169,710
|
1,978,432
|
169,710
|
1,978,432
|
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period |
53,044
|
36,443
|
85,797
|
280,372
|
| Structured Subordinated Notes | Debt and Equity Securities, Realized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
(181,657)
|
(394,194)
|
(418,030)
|
(871,345)
|
| Structured Subordinated Notes | Debt and Equity Securities, Unrealized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
53,044
|
36,443
|
132,672
|
280,372
|
| Preferred Equity |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning balance |
738,583
|
100,069
|
501,010
|
100,000
|
| Net realized and unrealized gains (losses) on investments |
67,021
|
(39,216)
|
204,594
|
(39,147)
|
| Purchases of investments |
0
|
0
|
100,000
|
0
|
| Restructuring of investments |
|
0
|
|
0
|
| Payment-in-kind interest |
23,262
|
0
|
23,262
|
0
|
| Accretion (amortization) of purchase discount and premium, net |
0
|
0
|
0
|
0
|
| Net Reductions to Subordinated Structured Notes and related investment cost |
0
|
0
|
0
|
0
|
| Repayments and sales of portfolio investments |
0
|
0
|
0
|
0
|
| Transfers into Level 3 |
0
|
0
|
0
|
0
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
| Fair value, ending balance |
828,866
|
60,853
|
828,866
|
60,853
|
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period |
67,021
|
(39,216)
|
204,594
|
(39,147)
|
| Preferred Equity | Debt and Equity Securities, Realized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
0
|
0
|
0
|
0
|
| Preferred Equity | Debt and Equity Securities, Unrealized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
67,021
|
(39,216)
|
204,594
|
(39,147)
|
| Common Equity/Other |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Fair value, beginning balance |
2,322,276
|
952,222
|
2,061,100
|
743,301
|
| Net realized and unrealized gains (losses) on investments |
165,326
|
164,619
|
426,502
|
(205,798)
|
| Purchases of investments |
0
|
0
|
0
|
0
|
| Restructuring of investments |
|
0
|
|
579,338
|
| Payment-in-kind interest |
0
|
0
|
0
|
0
|
| Accretion (amortization) of purchase discount and premium, net |
0
|
0
|
0
|
0
|
| Net Reductions to Subordinated Structured Notes and related investment cost |
0
|
0
|
0
|
0
|
| Repayments and sales of portfolio investments |
0
|
0
|
0
|
0
|
| Transfers into Level 3 |
0
|
0
|
0
|
0
|
| Transfers out of Level 3 |
0
|
0
|
0
|
0
|
| Fair value, ending balance |
2,487,602
|
1,116,841
|
2,487,602
|
1,116,841
|
| Net change in unrealized gains (losses) attributable to Level 3 investments still held at the end of the period |
165,326
|
164,619
|
426,502
|
91,278
|
| Common Equity/Other | Debt and Equity Securities, Realized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
0
|
0
|
0
|
(297,076)
|
| Common Equity/Other | Debt and Equity Securities, Unrealized Gain (Loss) |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Total gains or losses included in earnings |
$ 165,326
|
$ 164,619
|
$ 426,502
|
$ 91,278
|