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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
Interest income from loans $ 1,323,085 $ 1,521,474 $ 4,189,658 $ 4,485,414
Origination fees 304,297 264,878 880,440 753,111
Total revenue 1,627,382 1,786,352 5,070,098 5,238,525
Operating costs and expenses:        
Interest and amortization of deferred financing costs 184,914 337,901 819,015 1,016,590
Referral fees 2,069 1,641 6,463 3,569
General and administrative expenses 335,284 305,407 983,867 968,914
Total operating costs and expenses 522,267 644,949 1,809,345 1,989,073
Income from operations 1,105,115 1,141,403 3,260,753 3,249,452
Other income 4,500 9,500 13,500 15,500
Income before income tax expense 1,109,615 1,150,903 3,274,253 3,264,952
Income tax expense (647) (645)
Net income $ 1,109,615 $ 1,150,903 $ 3,273,606 $ 3,264,307
Basic and diluted net income per common share outstanding:        
—Basic $ 0.10 $ 0.12 $ 0.32 $ 0.34
—Diluted $ 0.10 $ 0.12 $ 0.32 $ 0.34
Weighted average number of common shares outstanding        
—Basic 11,331,902 9,625,140 10,196,868 9,635,107
—Diluted 11,331,902 9,625,140 10,196,868 9,635,107