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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Interest income from loans $ 1,992,495 $ 1,677,670 $ 5,888,843 $ 4,933,767
Origination fees 441,271 429,350 1,342,077 1,405,076
Total revenue 2,433,766 2,107,020 7,230,920 6,338,843
Operating costs and expenses:        
Interest and amortization of deferred financing costs 614,389 496,718 1,856,079 1,204,954
Referral fees 361 625 1,652 3,945
General and administrative expenses 377,192 377,436 1,274,267 1,125,162
Total operating costs and expenses 991,942 874,779 3,131,998 2,334,061
Income from operations 1,441,824 1,232,241 4,098,922 4,004,782
Other income 4,500 4,500 29,380 13,500
Income before income tax expense 1,446,324 1,236,741 4,128,302 4,018,282
Income tax expense (650) (650)
Net income $ 1,446,324 $ 1,236,741 $ 4,127,652 $ 4,017,632
Basic and diluted net income per common share outstanding:        
—Basic $ 0.13 $ 0.11 $ 0.36 $ 0.35
—Diluted $ 0.13 $ 0.11 $ 0.36 $ 0.35
Weighted average number of common shares outstanding        
—Basic 11,461,052 11,494,945 11,477,133 11,494,945
—Diluted 11,461,052 11,494,945 11,477,133 11,494,945