Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table presented below summarizes the Company’s financial assets and liabilities measured at fair value as of December 31, 2025 and 2024.


		As of December 31, 2024
		Level 1				Level 2				Level 3				Total
Financial assets:
Loans, at fair value - related party		$	-			$	-			$	5,335,000			$	5,335,000

Summary Of Changes In Loans At Fair Value

The following table presents changes in loans at fair value that use Level 3 inputs for the year ended December 31, 2025:


		For the year ended December 31, 2025
		Loans, at fair value - related party
Balance at December 31, 2024		$	5,500,000
Transfers out of Level 3			(5,500,000	)
Balance at December 31, 2025		$	-

Summary of Significant Unobservable Inputs Used to Value Loans Categorized within Level 3

The following tables summarize the significant unobservable inputs the Company used to value the loans categorized within Level 3 as of December 31, 2024. The tables are not intended to be all-inclusive, but instead capture the significant unobservable inputs relevant to the Company’s determination of fair values.


	As of December 31, 2024
					Unobservable Input
	Fair Value			Primary Valuation Technique	Input	Value
Loans, at fair value - related party	$	5,335,000		Yield Analysis	Discount rate		13.65	%
Total loans, at fair value	$	5,335,000

Schedule of Carrying Values and Fair Values of the Company’s Financial Assets and Liabilities

As of December 31, 2025 and 2024, the carrying values and fair values of the Company’s financial assets and liabilities recorded at amortized cost are as follows:


						As of December 31,								As of December 31,
						2025								2024
		Level				Carrying Value				Fair Value				Carrying Value				Fair Value
Financial assets:
Loans held for investment			3			$	408,955,567			$	407,364,639			$	402,477,046			$	399,771,293
Cash and cash equivalents			1				14,948,884				14,948,884				26,400,448				26,400,448
Interest receivable			2				4,009,800				4,009,800				1,453,823				1,453,823
Other receivables and assets, net			2				874,245				874,245				459,187				459,187
Related party receivables			2				1,189,937				1,189,937				3,370,339				3,370,339

Financial liabilities:
Revolving loan			2				49,100,000				48,853,380				55,000,000				54,694,925
Notes payable, net			2				49,334,459				49,383,677				49,096,250				49,306,996
Dividend payable			2				11,157,220				11,157,220				13,605,153				13,605,153
Related party payables			2				2,214,920				2,214,920				2,043,403				2,043,403
Management and incentive fees payable			2				3,098,576				3,098,576				2,863,158				2,863,158
Interest payable			2				1,348,334				1,348,334				1,149,021				1,149,021
Accounts payable and other liabilities			2				834,977				834,977				1,136,014				1,136,014
Interest reserve			2				12,686				12,686				1,297,878				1,297,878

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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