v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
DEBT [Abstract]  
Components of Interest Expense

The following table presents the components of interest expense for the following periods:

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

September 30, 2026

 

 

September 30, 2025

 

 

September 30, 2026

 

 

September 30, 2025

 

Commitment fee

 

$

52,903

 

 

$

125,465

 

 

$

188,945

 

 

 

318,243

 

Amortization of deferred financing costs

 

 

178,601

 

 

 

177,966

 

 

 

529,978

 

 

 

426,745

 

Interest expense

 

 

1,016,581

 

 

 

35,084

 

 

 

2,554,643

 

 

 

40,168

 

Total interest expense

 

$

1,248,085

 

 

$

338,515

 

 

$

3,273,566

 

 

 

785,156

 

Average interest rate

 

 

6.71

%

 

 

7.33

%

 

 

6.68

%

 

 

7.33

%

Average daily borrowings

 

$

59,293,478

 

 

$

1,875,000

 

 

$

50,410,256

 

 

 

723,443

 
Schedule of Information about Senior Securities

Information about our senior securities is shown in the following table as of September 30, 2026:

Class and Period

 

Total Amount Outstanding Exclusive of Treasury Securities(1)

 

 

Asset Coverage Per Unit(2)

 

 

Involuntary Liquidating Preference Per Unit(3)

 

 

Average Market Value Per Unit(4)

Revolving Credit Facility

 

 

 

 

 

 

 

 

 

 

 

September 30, 2026

 

$

91,000,000

 

 

$

4,327

 

 

 

-

 

 

N/A

June 30, 2026

 

$

27,000,000

 

 

$

12,203

 

 

 

-

 

 

N/A

March 31, 2026

 

$

54,500,000

 

 

$

6,581

 

 

 

-

 

 

N/A

December 31, 2025

 

$

25,000,000

 

 

$

13,136

 

 

 

-

 

 

N/A

 

(1) Total amount of each class of senior securities outstanding at the end of the period presented.

(2) Asset coverage per unit is the ratio of the carrying value of our total assets, less all liabilities excluding indebtedness represented by senior securities in this table, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $1,000 of indebtedness and is calculated on a consolidated basis.

(3) The amount to which such class of senior security would be entitled upon our involuntary liquidation in preference to any security junior to it. The “-” in this column indicates information that the SEC expressly does not require to be disclosed for certain types of senior securities.

(4) Not applicable because the senior securities are not registered for public trading.