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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 3,008,449 $ 3,193,078
Restricted cash 0 106,918
Loans held for investment, net of allowance for credit losses of $179,450 and $469,011 30,387,896 78,343,464
Equity interest in unconsolidated investments 36,291,196 40,431,710
Promissory note receivable (Note 6) 45,130,163 0
Marketable securities 425,357 507,266
Interest receivable 274,088 1,241,308
Prepaid expenses and other assets 385,795 515,407
Total assets 115,902,944 124,339,151
Liabilities:    
Unsecured notes payable, net of purchase discount 36,521,684 35,213,543
Term loan payable, net of deferred financing cost 0 14,948,604
Obligation under participation agreement (Note 7) 18,173,962 0
Interest payable from obligation under participation agreement 259,153 0
Interest reserve and other deposits held on investments 0 106,918
Other liabilities 11,229 410,075
Accrued expenses 114,498 254,716
Total liabilities 55,080,526 50,933,856
Commitments and contingencies (Note 8)
Member’s capital 60,822,418 73,405,295
Total liabilities and member’s capital 115,902,944 124,339,151
Loans Held for Investment, Net    
Assets    
Loans held for investment, net of allowance for credit losses of $179,450 and $469,011 18,575,895 60,458,534
Loans held for investment acquired through participation    
Assets    
Loans held for investment, net of allowance for credit losses of $179,450 and $469,011 $ 11,812,001 $ 17,884,930