v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:        
Net increase (decrease) in net assets resulting from operations     $ (21,166,678) $ 1,832,511
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:        
Net realized (gains)/losses on investments $ 38,269,615 $ 1,004,192 38,348,391 171,865
Net change in unrealized (appreciation) depreciation on investments (26,323,696) 4,032,796 (7,965,841) 12,320,156
Net accretion of discount on investments     (973,193) (1,647,587)
Amortization of deferred financing costs     264,412 264,413
Payment-in-kind interest income (929,213) (645,162) (1,373,879) (1,505,068)
Purchases and drawdowns of investments     (25,150,454) (119,825,357)
Sales and repayments of investments     104,715,136 160,307,311
(Increase) decrease in operating assets:        
Interest and other receivables     (4,218,000) 4,166,218
Receivable for investments sold     (1,624,098) (2,501,597)
Prefunded purchases of investments       (4,274,887)
Prepaid expenses     161,143 157,575
Increase (decrease) in operating liabilities:        
Management fee payable     (156,775) (104,746)
Incentive fee payable       (293,105)
Administration fee payable     (267,952) (388,481)
Interest payable     (410,402) (1,134,509)
Payable for investments purchased     2,363,082 (23,882,968)
Accrued expenses and other liabilities     (109,395) (2,841,116)
Net cash provided by (used in) operating activities     82,435,497 20,820,628
Cash Flows from Financing Activities:        
Proceeds from issuance of common shares       3,639,803
Redemption of common shares     (18,019,812) (25,839,947)
Distributions to shareholders     (8,817,433) (10,691,971)
Borrowings on credit facility     23,000,000 111,000,000
Payments on credit facility     (80,000,000) (101,000,000)
Net cash provided by (used in) financing activities     (83,837,245) (22,892,115)
Net increase (decrease) in cash and cash equivalents     (1,401,748) (2,071,487)
Cash and cash equivalents and restricted cash, beginning of period     11,752,645 24,299,183
Cash and cash equivalents and restricted cash, end of period 10,350,897 22,227,696 10,350,897 22,227,696
Supplemental and Non-Cash Information        
Cash paid for interest     6,542,140 9,432,206
Reinvestments of distributions     433,100 799,456
Non-cash restructuring of portfolio investment     15,403,109 8,712,599
Reconciliation of Cash and Cash Equivalents and Restricted Cash        
Cash and cash equivalents 9,727,106 21,210,038 9,727,106 21,210,038
Restricted cash 623,791 1,017,658 623,791 1,017,658
Total cash and cash equivalents and restricted cash $ 10,350,897 $ 22,227,696 $ 10,350,897 $ 22,227,696