v3.26.3
Statement of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net increase (decrease) in net assets resulting from operations $ 22,613,736 $ 25,032,683
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net realized (gain) loss on investments 67,500 0
Net change in unrealized (appreciation) depreciation from investments 3,245,779 (228,534)
Net (accretion of discounts) and amortization of premiums (2,402,521) (2,105,692)
Purchase of investments (167,406,486) (124,909,502)
PIK interest capitalized (3,393,190) (1,499,341)
Proceeds from sales of investments and principal repayments 103,582,679 92,590,985
Amortization of deferred financing costs 529,978 426,745
(Increase) Decrease in operating assets:    
Interest receivable (1,309,051) (71,031)
Due from affiliates 1,137,941 1,691,266
Prepaid expenses and other assets (2,097,707) 27,742
Receivable for investment sold 0 4,122,500
Increase (Decrease) in operating liabilities:    
Income-based incentive fees payable 12,127 348,529
Management fee payable 209,365 641,483
Capital gains incentive fees payable (163,473) 45,707
Professional fees payable (177,611) 18,285
Transaction fees payable related to the Loan Portfolio Acquisition 0 (2,945,125)
Other payables 1,521,898 134,392
Due to affiliates 297,670 80,753
Excise tax payable (69,609) (88,709)
Unearned interest income (23,192) (22,253)
Net cash provided by (used in) operating activities (43,824,167) (6,709,117)
Cash flows from financing activities    
Offering costs paid (139,570) (1,090,931)
Distributions paid (23,277,003) (15,515,682)
Financing costs paid (500,000) (1,154,310)
Proceeds from borrowings on revolving line of credit 123,000,000 28,500,000
Principal payments under revolving line of credit (57,000,000) (17,500,000)
Net cash provided by (used in) financing activities 42,083,427 (6,760,923)
Net increase (decrease) in cash and cash equivalents (1,740,740) (13,470,040)
Cash and cash equivalents, beginning of period 2,934,752 23,932,406
Cash and cash equivalents, end of period 1,194,012 10,462,366
Supplemental disclosures    
Excise taxes paid 72,339 115,357
Interest expense paid 1,679,882 0
Reinvestment of dividend distribution 0 2,189
Non-cash operating, financing and investing activity    
Accrual for deferred financing costs (Note 2) $ 500,000 $ 1,106,429