Indemnification, Guarantees, Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Indemnification, Guarantees, Commitments and Contingencies

Note 6. Indemnification, Guarantees, Commitments and Contingencies

In the normal course of business, the Company enters into contracts that provide a variety of representations and warranties and general indemnifications. Such contracts include those with certain service providers, brokers and trading counterparties. Any exposure to the Company under these arrangements is unknown as it would involve future claims that may be made against the Company; however, based on the Company’s experience, the risk of loss is remote and no such claims are expected to occur. As such, the Company has not accrued any liability in connection with such indemnifications.

The Company’s board of directors declared the following quarterly distributions during the three months ended March 31, 2025:


Declared Date	Ex-Date	Record Date	Pay Date	Amount per Share	Fiscal Quarter
March 20, 2025	April 24, 2025	April 25, 2025	May 16, 2025	$0.12	1st 2025

Loans purchased by the Company may include revolving credit agreements or other financing commitments obligating the Company to advance additional amounts on demand. The Company generally sets aside sufficient liquid assets to cover its unfunded commitments, if any.

The following table details the Company’s unfunded commitments to portfolio companies as of March 31, 2025:


Investments	Unfunded Commitment	Fair Value	Annual Non-use Fee	Expiration Date
Accelevation, LLC - DDTL	$1,269,231	$—	1.00%	1/2/2031
Uniguest Holdings - DDTL	1,111,111	—	1.00%	11/27/2030
Argano, LLC - DDTL	869,565	—	1.00%	8/23/2029
Accelevation, LLC – Revolver	741,232	—	0.50%	1/2/2031
Arborworks Acquisition LLC – Revolver	692,381	—	—	11/6/2028
Crafty Apes LLC - DDTL - Second Out	492,735	—	—	6/1/2027
Uniguest Holdings - Revolver	333,333	—	0.50%	11/27/2030
Argano, LLC - Revolver	144,928	—	0.50%	8/23/2029
Total Unfunded Commitments	$5,654,516	$—

The following table details the Company’s unfunded commitments to portfolio companies as of December 31, 2024:


Investments	Unfunded Commitment	Fair Value	Annual Non-use Fee	Expiration Date
Uniguest Holdings - DDTL	$1,111,111	$—	—	11/27/2030
Argano, LLC - DDTL	869,565	—	—	8/23/2029
Arborworks Acquisition LLC – Revolver	712,496	—	—	11/6/2028
Flatworld Intermediate Corporation – Revolver	567,568	—	0.50%	10/1/2027
Crafty Apes LLC - DDTL - Second Out	492,735	—	—	6/1/2027
Sandvine Corporation - DDTL	398,456	—	—	10/3/2025
Uniguest Holdings - Revolver	333,333	—	—	11/27/2030
Argano, LLC - Revolver	144,928	—	—	8/23/2029
Total Unfunded Commitments	$4,630,192	$—