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BORROWINGS (Tables)

9 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Information Related to the Credit Facility

The following tables summarize noteworthy information related to the Credit Facility:

			As of December 31, 2024						As of March 31, 2024
Commitment amount			$	200,000					$	200,000
Borrowings outstanding at cost			$	91,500					$	67,000
Availability(A)			$	108,500					$	133,000

			For the Three Months Ended December 31,												For the Nine Months Ended December 31,
			2024						2023						2024						2023
Weighted-average borrowings outstanding			$	41,921					$	77,359					$	55,792					$	57,135
Effective interest rate(B)			11.8		%				9.2		%				11.1		%				10.2		%
Commitment (unused) fees incurred			$	406					$	113					$	1,067					$	777

(A)Availability is subject to various constraints, characteristics and applicable advance rates based on collateral quality under the Credit Facility, which equated to an adjusted availability of $108.5 million and $133.0 million as of December 31, 2024 and March 31, 2024, respectively.

(B)Excludes the impact of deferred financing costs and includes unused commitment fees.

Schedule of Recurring Fair Value Measurements of Borrowings Using Significant Unobservable Level 3 Inputs

The following tables provide relevant information and disclosures about the Credit Facility as of December 31, 2024 and March 31, 2024 and for the three and nine months ended December 31, 2024 and 2023, as required by ASC 820:

			Level 3 – Borrowings
			Recurring Fair Value Measurements Reported in Consolidated Statements of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)
			December 31, 2024						March 31, 2024
Credit Facility			$	91,500					$	67,000

Fair Value Measurements of Borrowings Using Significant Unobservable Inputs (Level 3)  Reported in Consolidated Statements of Assets and Liabilities
			Credit Facility
Three Months Ended December 31, 2024:
Fair value at September 30, 2024			$	8,900
Borrowings			144,200
Repayments			(61,600)
Fair value at December 31, 2024			$	91,500
Nine Months Ended December 31, 2024
Fair value at March 31, 2024			$	67,000
Borrowings			192,000
Repayments			(167,500)
Fair value at December 31, 2024			$	91,500

Fair Value Measurements of Borrowings Using Significant Unobservable Inputs (Level 3) Reported in Consolidated Statements of Assets and Liabilities
			Credit Facility
Three Months Ended December 31, 2023:
Fair value at September 30, 2023			$	79,208
Borrowings			104,900
Repayments			(101,600)
Unrealized appreciation			92
Fair value at December 31, 2023			$	82,600
Nine Months Ended December 31, 2023
Fair value at March 31, 2023			$	35,171
Borrowings			231,900
Repayments			(184,500)
Unrealized appreciation			29
Fair value at December 31, 2023			$	82,600

Schedule of Debt

The following tables summarize our 5.00% 2026 Notes, 4.875% 2028 Notes, 8.00% 2028 Notes and 7.875% 2030 Notes as of December 31, 2024 and March 31, 2024:

As of December 31, 2024:
Description						Ticker Symbol						Date Issued						Maturity Date(A)						Interest Rate						Notes Outstanding						Principal Amount per Note						Aggregate Principal Amount
5.00% 2026 Notes						GAINN						March 2, 2021						May 1, 2026						5.00%						5,117,500						$	25.00					$	127,938
4.875% 2028 Notes						GAINZ						August 18, 2021						November 1, 2028						4.875%						5,382,000						$	25.00					134,550
8.00% 2028 Notes						GAINL						May 31, 2023						August 1, 2028						8.00%						2,990,000						$	25.00					74,750
7.875% 2030 Notes						GAINI						December 17, 2024						February 1, 2030						7.875%						5,060,000						$	25.00					126,500
Notes payable, gross(B)																														18,549,500												463,738
Less: Unamortized Discounts																																										(8,680)
Notes payable, net(C)																																										$	455,058

As of March 31, 2024:
Description						Ticker Symbol						Date Issued						Maturity Date(A)						Interest Rate						Notes Outstanding						Principal Amount per Note						Aggregate Principal Amount
5.00% 2026 Notes						GAINN						March 2, 2021						May 1, 2026						5.00%						5,117,500						$	25.00					$	127,938
4.875% 2028 Notes						GAINZ						August 18, 2021						November 1, 2028						4.875%						5,382,000						$	25.00					134,550
8.00% 2028 Notes						GAINL						May 31, 2023						August 1, 2028						8.00%						2,990,000						$	25.00					74,750
Notes payable, gross(B)																														13,489,500												337,238
Less: Unamortized Discounts																																										(5,893)
Notes payable, net(C)																																										$	331,345

(A)The 5.00% 2026 Notes and the 4.875% 2028 Notes can be redeemed at our option at any time. The 8.00% 2028 Notes can be redeemed at our option at any time on or after August 1, 2025. The 7.875% 2030 Notes can be redeemed at our option at any time on or after February 1, 2027.

(B)As of December 31, 2024 and March 31, 2024, asset coverage on our senior securities representing indebtedness, calculated pursuant to Sections 18 and 61 of the 1940 Act, was 185.9% and 219.0%, respectively.

(C)Reflected as a line item on our accompanying Consolidated Statements of Assets and Liabilities.

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