v3.26.1
Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net increase (decrease) in net assets resulting from operations $ 33,279,179 $ 9,622,538 $ 7,340,108
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net change in unrealized (appreciation) depreciation from investments (207,930) (246,004) (922,031)
Net (accretion of discounts) and amortization of premiums (2,700,864) (1,101,295) (810,554)
Purchase of investments (156,219,502) (29,943,975) (8,442,000)
PIK interest capitalized (2,558,891) (743,775) (115,725)
Proceeds from sales of investments and principal repayments 103,616,798 21,410,831 6,214,093
Amortization of deferred financing costs 628,985 0 0
Net realized (gain) loss from investments 0 74,483 210,767
(Increase) Decrease in operating assets:      
Interest receivable 407,019 (1,827,250) (196,279)
Receivable for investment sold 4,122,500 (4,122,500) 0
Due from affiliates 556,987 (2,361,019) 0
Prepaid expenses and other assets 129,546 (133,953) (56,953)
Increase (Decrease) in operating liabilities:      
Income-based incentive fees payable 74,374 487,692 1,511,253
Management fee payable 688,108 501,241 86,156
Capital gains incentive fees payable 41,586 34,304 87,583
Professional fees payable (2,193) 26,856 221,639
Transaction fees payable related to the Loan Portfolio Acquisition (2,945,125) 2,233,861 711,264
Other payables 238,555 32,397 (19,841)
Due to affiliates 406,475 905,129 (37)
Excise tax payable (19,100) 78,054 (69,911)
Unearned interest income (14,238) 37,752 0
Net cash provided by (used in) operating activities (20,477,731) (5,034,633) 5,749,532
Cash flows from financing activities      
Offering costs paid (1,090,931) (274,728) 0
Distributions paid (23,274,682) (12,419,330) (8,263,217)
Financing costs paid (1,154,310) 0 0
Proceeds from borrowings on revolving line of credit 51,500,000 0 0
Principal payments under revolving line of credit (26,500,000) 0 0
Proceeds from issuance of common stock 0 9,049,462 0
Net cash provided by (used in) financing activities (519,923) (3,644,596) (8,263,217)
Net increase (decrease) in cash and cash equivalents (20,997,654) (8,679,229) (2,513,685)
Cash and cash equivalents, beginning of period 23,932,406 32,611,635 35,125,320
Cash and cash equivalents, end of period 2,934,752 23,932,406 32,611,635
Supplemental disclosures      
Excise taxes paid 115,357 41,969 80,566
Interest expense paid 37,979 0 0
Non-cash operating, financing and investing activity      
Accrual for deferred financing costs (Note 2) 1,106,429 47,881 0
Accrual for deferred offering costs (Note 2) 101,286 49,998 0
Reinvestment of dividend distribution 2,189 812 2,318
Loans acquired for issuances of shares of common stock $ 0 $ 210,571,663 $ 0