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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 losses118,741 273,535 392,276 
Write-offs— — — 
Recoveries— — — 
Balance at September 30, 2025$140,523 $291,933 $432,456 
(1)As of September 30, 2025 and December 31, 2024, the CECL Reserve related to outstanding balances on loans held at carrying value is recorded within current expected credit loss reserve in the Company’s consolidated balance sheets.
(2)As of September 30, 2025 and December 31, 2024, the CECL Reserve related to unfunded commitments on loans held at carrying value is recorded within current expected credit loss reserve as a liability in the Company’s consolidated balance sheets.
Schedule of Financing Receivable Credit Quality Indicators Based on a 5-point scale, the Company’s loans are rated “1” through “5,” from less risk to greater risk, which ratings are defined as follows:
RatingDefinition
1Very Low Risk — Investment exceeds performance expectations. Trends and risk factors since time of investment are favorable.
2Low Risk — Investment performing consistent with expectations and a full return of principal and interest expected. Trends and risk factors are neutral to favorable.
3Medium Risk — Performing investments requiring closer monitoring. Trends and risk factors show some deterioration.
4High Risk/ Potential for Loss — Investment underperforming with the potential of some interest loss. Trends and risk factors are negative.
5Impaired/ Loss Likely — Investment underperforming with expected loss of interest, and full recovery of principal is unlikely.
As of September 30, 2025, the carrying value, excluding the CECL Reserve, of the Company’s loans held at carrying value within each risk rating by year of origination is as follows:
Risk Rating:20252024
Total
1$— $— $— 
2101,031,667 122,720,072 223,751,739 
3— 26,626,988 26,626,988 
4— — — 
5— — — 
Total$101,031,667 $149,347,060 $250,378,727