v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 12 Months Ended 166 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Mar. 31, 2026
Cash Flows from Operating Activities        
Net increase in net assets resulting from operations $ 1,655,736 $ 4,993,545    
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:        
Purchases of investments (27,664,251) (55,415,263)    
Proceeds from sales and repayments of investments 41,713,484 14,986,423    
Net change in unrealized depreciation (appreciation) on investments 6,548,346 (1,193,293)    
Net change in unrealized depreciation (appreciation) on foreign currency translations 48,020 (8,319)    
Increase in investments due to payment-in-kind income (1,674,387) (976,479)    
Amortization of premium and accretion of discount, net (713,561) (715,755) $ 2,891,683  
Amortization of loan structure fees 254,298 315,618    
Amortization of deferred financing costs 134,684 110,150    
Amortization of discount on Notes Payable 33,248      
Amortization of premium on Notes Payable (30,426)      
Amortization of loan fees on SBA-guaranteed debentures 166,986 188,984    
Net realized (gain) loss on investments (750,410) 5,967,221    
Changes in other assets and liabilities        
Increase in interest receivable (235,852) (1,281,507)    
Decrease (increase) in income tax receivable 1,385,387 (1,081,760)    
Increase in other receivables (64,189) (20,755)    
Decrease in related party receivables 20 3,687    
(Increase) decrease in prepaid expenses (423,284) 90,313    
(Decrease) increase in management fees payable (50,348) 20,617    
Increase (decrease) in income incentive fees payable 95,648 (1,458,054)    
Increase (decrease) in administrative services payable 40,191 (12,990)    
Decrease in interest payable (408,861) (3,788,915)    
Increase in related party payable 2,335,513 1,290,893    
(Decrease) increase in unearned revenue (42,377) 72,177    
Increase in income tax payable 93,492      
Increase in other accrued expenses and liabilities 356,278 989,436    
Net Cash Provided by (Used in) Operating Activities 22,803,385 (36,924,026)    
Cash Flows from Financing Activities        
Proceeds from the issuance of common stock   9,256,982   $ 406,684,725
Sales load for common stock issued   (138,908)    
Offering costs paid for common stock issued (75,000) (179,988)    
Stockholder distributions paid (10,418,116) (10,999,933)    
Financing costs paid on Notes Payable (50,000)      
Repayments of SBA-guaranteed debentures (39,000,000) (16,250,000)    
Borrowings under Credit Facility 58,100,000 67,700,000    
Repayments of Credit Facility (53,033,900) (21,633,900)    
Net Cash (Used in) Provided by Financing Activities (44,477,016) 27,754,253    
Net Decrease in Cash and Cash Equivalents (21,673,631) (9,169,773)    
Cash and Cash Equivalents Balance at Beginning of Period 25,050,156 20,058,594 20,058,594  
Cash and Cash Equivalents Balance at End of Period 3,376,525 10,888,821 $ 25,050,156 $ 3,376,525
Supplemental and Non-Cash Activities        
Cash paid for interest expense 8,701,862 11,437,182    
Income and excise tax refund, net (1,118,408) 1,581,307    
Exchange of investments $ 1,999,529 $ 1,663,301