v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - 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 (decrease) in net assets resulting from operations     $ (9,738,283) $ 1,326,800  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Origination and purchase of investments     (3,365,170) (27,670,641)  
Payment in-kind interest and dividends     (703,352) (1,103,161)  
Sales and repayments of investments     32,076,804 17,549,493  
Net realized (gain) loss on investments $ 2,136,381 $ (2,208,625) 2,117,046 (581,343)  
Net change in unrealized appreciation/depreciation on investments     7,435,305 17,023  
Amortization of discount/premium on investments     (831,934) (725,093)  
Amortization of deferred debt issuance costs     429,493 307,648  
Amortization of original issue discount     (1,089,674) 35,555  
Net (increase) decrease in operating assets:          
Receivable for investments sold     (3,288,243) 0  
Principal receivable     20,074 564,557  
Interest receivable     159,894 90,029  
Payment-in-kind interest receivable     34,684 (132,733)  
Long-term receivable     0 489,365  
Short-term receivable     0 (191,407)  
Prepaid expenses and other assets     (359,498) (278,753)  
Net increase (decrease) in operating liabilities:          
Payable for investments purchased     335,966 8,098,992  
Interest payable     (1,206,330) (38,724)  
Base management fees payable     (786,986) 10,491  
Income-based incentive fees payable     (944) (118,748)  
Deferred income liability     (440,084) 594,913  
Directors fees payable     118,403 (81,323)  
Accrued expenses and other liabilities     (800,383) 195,882  
Net cash (used in) provided by operating activities     20,116,788 (1,641,178)  
Cash Flows from Financing Activities:          
Payments for deferred financing costs     (256,181) 0  
Distributions to stockholders     0 (5,118,649)  
Proceeds from borrowing on revolving financing facility     0 18,500,000  
Repayments of borrowing on revolving financing facility     (14,000,000) (6,500,000)  
Proceeds from 2029 Notes payable     65,000,000 0  
Repayments of borrowing on 2026 Notes payable     (65,000,000) 0  
Net cash (used in) provided by financing activities     (14,256,181) 6,881,351  
Net change in cash and cash equivalents     5,860,607 5,240,173  
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period     14,998,445 12,104,547 $ 12,104,547
Cash and cash equivalents and restricted cash and cash equivalents at end of period 20,859,052 17,344,720 20,859,052 17,344,720 14,998,445
Supplemental and non-cash financing cash flow information:          
Cash paid for interest     5,068,775 3,726,887  
Cash paid for taxes     428,441 478,619  
Issuance of shares pursuant to Dividend Reinvestment Plan     0 70,453  
Non-cash purchase of investments     0 (11,306,892)  
Non-cash sale of investments     0 11,306,892  
Cash and cash equivalents 10,940,767 2,946,719 10,940,767 2,946,719  
Restricted cash and cash equivalents 9,918,285 14,398,001 9,918,285 14,398,001  
Cash and cash equivalents and restricted cash and cash equivalents $ 20,859,052 $ 17,344,720 $ 20,859,052 $ 17,344,720 $ 14,998,445