XML 39 R26.htm IDEA: XBRL DOCUMENT
v3.25.3

CURRENT EXPECTED CREDIT LOSSES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Credit Loss [Abstract] |
Schedule of Financing Receivable, Allowance for Credit Loss | Activity related to the CECL Reserve for outstanding balances and unfunded commitments on the Company’s loans held at carrying value as of and for the three and nine months ended September 30, 2025 was as follows:
| Outstanding(1) |  | Unfunded(2) |  | Total
Balance at June 30, 2025 | $ | 383,860 |  |  | $ | 242,461 |  |  | $ | 626,321 |
(Reversal of) provision for current expected credit losses | (243,337) |  |  | 49,472 |  |  | (193,865) |
Write-offs | — |  |  | — |  |  | — |
Recoveries | — |  |  | — |  |  | — |
Balance at September 30, 2025 | $ | 140,523 |  |  | $ | 291,933 |  |  | $ | 432,456 |
| Outstanding(1) |  | Unfunded(2) |  | Total
Balance at December 31, 2024 | $ | 21,782 |  |  | $ | 18,398 |  |  | $ | 40,180 |
Provision for (reversal of) current expected credit losses | 118,741 |  |  | 273,535 |  |  | 392,276 |
Write-offs | — |  |  | — |  |  | — |
Recoveries | — |  |  | — |  |  | — |
Balance at September 30, 2025 | $ | 140,523 |  |  | $ | 291,933 |  |  | $ | 432,456 |
(1)As of September 30, 2025 and December 31, 2024, the CECL Reserve related to outstanding balances on loans held at carrying value is recorded within current expected credit loss reserve in the Company’s consolidated balance sheets. (2)As of September 30, 2025 and December 31, 2024, the CECL Reserve related to unfunded commitments on loans held at carrying value is recorded within current expected credit loss reserve as a liability in the Company’s consolidated balance sheets.
Schedule of Financing Receivable Credit Quality Indicators | Based on a 5-point scale, the Company’s loans are rated “1” through “5,” from less risk to greater risk, which ratings are defined as follows:
Rating | Definition
1 | Very Low Risk — Investment exceeds performance expectations. Trends and risk factors since time of investment are favorable.
2 | Low Risk — Investment performing consistent with expectations and a full return of principal and interest expected. Trends and risk factors are neutral to favorable.
3 | Medium Risk — Performing investments requiring closer monitoring. Trends and risk factors show some deterioration.
4 | High Risk/ Potential for Loss — Investment underperforming with the potential of some interest loss. Trends and risk factors are negative.
5 | Impaired/ Loss Likely — Investment underperforming with expected loss of interest, and full recovery of principal is unlikely.
As of September 30, 2025, the carrying value, excluding the CECL Reserve, of the Company’s loans held at carrying value within each risk rating by year of origination is as follows:
Risk Rating: | 2025 |  | 2024 |  | Total
1 | $ | — |  |  | $ | — |  |  | $ | — |
2 | 101,031,667 |  |  | 122,720,072 |  |  | 223,751,739 |
3 | — |  |  | 26,626,988 |  |  | 26,626,988 |
4 | — |  |  | — |  |  | — |
5 | — |  |  | — |  |  | — |
Total | $ | 101,031,667 |  |  | $ | 149,347,060 |  |  | $ | 250,378,727 |

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CreditLossAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration