v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash Flows from Operating Activities          
Net increase in net assets resulting from operations $ 5,927,795 $ 4,741,142 $ 9,588,797 $ 9,305,199  
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:          
Purchases of investments     (64,027,298) (51,138,817)  
Proceeds from sales and repayments of investments     46,946,394 14,439,508  
Net change in unrealized appreciation on investments     (6,080,638) (2,205,337)  
Net change in unrealized depreciation (appreciation) foreign currency translations 1,686 (22,698) 18,527 (35,732)  
Increase in investments due to PIK     (629,431) (197,732)  
Amortization of premium and accretion of discount, net     (588,282) (473,368)  
Deferred tax provision (benefit)     369,544 (38,266)  
Amortization of loan structure fees     514,180 267,785  
Amortization of deferred offering costs 22,753 63,147 54,493 132,981  
Net realized loss (gain) on investments 3,810,360 (67,495) 3,810,360 (67,495) $ 1,467,178
Changes in other assets and liabilities          
Decrease (increase) in interest receivable     161,251 (67,100)  
(Increase) decrease in other receivable     (94,951) 4,340  
Decrease in related party receivable       2,004  
(Increase) decrease in expense reimbursements receivable from the Advisor     (29,242) 117,709  
(Increase) decrease in prepaid expenses     (82,814) 88,479  
Increase in related party payable     10,310    
Increase in administrative services payable     4,040 22,066  
(Decrease) increase in interest payable     (89,019) 7,898  
Increase in income management fees payable     101,487 149,253  
(Decrease) increase in income incentive fees payable     (46,595) 36,154  
Increase in capital gain incentive fees payable     192,644 272,733  
(Decrease) increase in unearned revenue     (151,470) 246,852  
Decrease in income tax payable     (64,548) (11,893)  
Increase (decrease) in other accrued expenses and liabilities     39,515 (214,744)  
Net Cash Used in Operating Activities     (10,072,746) (29,357,523)  
Cash Flows from Financing Activities          
Proceeds from issuance of common shares of beneficial interest     20,345,090 6,631,314  
Offering costs paid for common shares of beneficial interest issued     (29,597) (96,081)  
Purchase of common shares of beneficial interest in tender offer     (11,342,151) (342,751)  
Stockholder distributions paid     (9,075,059) (7,816,165)  
Borrowings under Credit Facilities     74,100,000 50,700,000  
Repayments of Credit Facilities     (61,750,000) (18,050,000)  
Financing costs paid on Credit Facilities     (19,268) (155,948)  
Net Cash Provided by Financing Activities     12,229,015 30,870,369  
Net Increase in Cash and Cash Equivalents     2,156,269 1,512,846  
Cash and Cash Equivalents Balance at Beginning of Period     2,586,895 2,144,116 2,144,116
Cash and Cash Equivalents Balance at End of Period $ 4,743,164 $ 3,656,962 4,743,164 3,656,962 $ 2,586,895
Supplemental and Non-Cash Activities          
Cash paid for interest expense     6,906,660 5,982,088  
Income and excise tax paid     110,799 29,000  
Value of common shares of beneficial interest issued pursuant to Dividend Reinvestment Plan     666,090 $ 1,185,787  
Exchange of investments     $ 6,049,707