v3.26.1
CREDIT FACILITY (Tables) - Senior Secured Revolving Credit Agreement
3 Months Ended
Mar. 31, 2026
CREDIT FACILITY  
Schedule of credit facility net of prepaid loan structure fees

  ​ ​ ​

March 31, 2026

December 31, 2025

Credit Facility payable

$

241,504,289

$

236,649,288

Prepaid loan structure fees

 

(3,227,630)

 

(3,481,928)

Credit Facility payable, net of prepaid loan structure fees

$

238,276,659

$

233,167,360

Schedule of interest expense and amortized loan fees

  ​ ​ ​

For the three months ended

March 31, 2026

March 31, 2025

Interest expense

$

3,743,733

$

3,889,157

Loan fee amortization

 

254,298

 

315,618

 

Total interest and financing expenses

$

3,998,031

$

4,204,775

Weighted average interest rate

 

6.3

%  

 

7.2

%  

Effective interest rate (including fee amortization)

 

6.7

%  

 

7.7

%  

Average debt outstanding

$

241,440,480

$

220,384,693

Cash paid for interest and unused fees

$

3,898,077

$

3,811,021