v3.26.1
Statement of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net increase (decrease) in net assets resulting from operations $ 14,599,467 $ 16,198,622
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 3,016,014 (885,594)
Net (accretion of discounts) and amortization of premiums (1,947,081) (1,216,102)
Purchase of investments (95,406,486) (59,050,605)
PIK interest capitalized (2,740,969) (1,045,967)
Proceeds from sales of investments and principal repayments 95,556,317 29,940,662
Amortization of deferred financing costs 351,377 248,779
(Increase) Decrease in operating assets:    
Interest receivable (412,566) 1,101,836
Due from affiliates (204,400) (4,156,696)
Prepaid expenses and other assets (1,550,897) (218,528)
Receivable for investment sold 0 4,122,500
Increase (Decrease) in operating liabilities:    
Income-based incentive fees payable (152,414) (30,305)
Management fee payable 108,552 586,969
Capital gains incentive fees payable (163,473) 177,119
Professional fees payable (338,483) 170,191
Transaction fees payable related to the Loan Portfolio Acquisition 0 (2,945,125)
Other payables 1,392,786 108,783
Due to affiliates 129,632 (180,823)
Excise tax payable (69,609) (88,709)
Unearned interest income (23,514) 88,384
Payable for investments purchased 0 11,760,000
Net cash provided by (used in) operating activities 12,144,253 (5,314,609)
Cash flows from financing activities    
Offering costs paid (135,469) (998,316)
Distributions paid (15,518,002) (7,758,698)
Financing costs paid (500,000) (1,031,429)
Proceeds from borrowings on revolving line of credit 46,500,000 5,000,000
Principal payments under revolving line of credit (44,500,000) 0
Net cash provided by (used in) financing activities (14,153,471) (4,788,443)
Net increase (decrease) in cash and cash equivalents (2,009,218) (10,103,052)
Cash and cash equivalents, beginning of period 2,934,752 23,932,406
Cash and cash equivalents, end of period 925,534 13,829,354
Supplemental disclosures    
Excise taxes paid 72,339 115,357
Interest expense paid 919,727 0
Reinvestment of dividend distribution 0 233
Non-cash operating, financing and investing activity    
Accrual for deferred financing costs (Note 2) $ 500,000 $ 830,531