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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenues    
Interest income $ 7,616,405 $ 10,226,670
Prepayment fee income 435,677 0
Dividend and other income 47,815 87,625
Revenues 8,099,897 10,314,295
Operating expenses    
Asset management and asset servicing fees paid/payable to Terra REIT [1] 1,132,525 1,682,414
Operating expense reimbursement to Terra REIT [1] 1,083,857 1,606,470
Provision for credit losses 5,997,074 5,113,660
Professional fees 698,566 711,754
Insurance expense 84,288 125,334
General and administrative 71,823 30,855
Operating expenses 9,068,133 9,270,487
Operating (loss) income (968,236) 1,043,808
Loss from equity interest in unconsolidated investments (3,874,927) (1,004,325)
Interest expense on unsecured notes payable (3,994,390) (3,856,889)
Interest expense on term loan (517,528) (1,776,596)
Interest expense from obligation under participation agreement (3,145,887) 0
Unrealized loss on investments, net 0 (18,601)
Realized loss on investments, net 0 (12,512)
Other income and expenses (11,532,732) (6,668,923)
Net loss (12,500,968) (5,625,115)
Other comprehensive loss    
Unrealized loss on available-for-sale debt securities (81,909) 0
Other comprehensive loss: (81,909) 0
Comprehensive loss $ (12,582,877) $ (5,625,115)
[1] Fees were paid and payable, and expenses were reimbursed, to Terra Property Trust, Inc. (“Terra REIT”) pursuant to a cost sharing agreement with Terra REIT (Note 6).