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Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Assets    
Loans receivable $ 58,511,236 $ 45,124,000
Interest receivable on loans 642,133 535,045
Cash 140,716 136,441
Cash - restricted 1,719,542
Deferred financing costs 46,891 45,269
Other assets 100,705 55,941
Total assets 61,161,223 45,896,696
Liabilities:    
Line of credit 21,717,346 16,914,594
Senior secured notes (net of deferred financing costs of $566,270 and $622,584) 5,433,730 5,377,416
Deferred origination fees 497,852 298,471
Accounts payable and accrued expenses 152,394 167,559
Dividends payable 891,983
Total liabilities 27,801,322 23,650,023
Commitments and contingencies
Stockholders' equity:    
Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued
Common shares - $.001 par value; 25,000,000 shares authorized; 9,873,703 and 8,319,036 issued, respectively; 9,663,601 and 8,108,934 outstanding, respectively 9,874 8,319
Additional paid-in capital 33,107,269 23,167,511
Treasury stock, at cost - 210,102 shares (541,491) (541,491)
Retained earnings (accumulated deficit) 784,249 (387,666)
Total stockholders' equity 33,359,901 22,246,673
Total liabilities and stockholders' equity $ 61,161,223 $ 45,896,696