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v3.25.2

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) | Jun. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Investments: |  |
Principal Balance | $ 47,675,001 | $ 45,902,453
Carrying value | 30,554,359 | 30,387,896
Fair value | 30,551,111 | 30,642,182
Liabilities: |  |
Principal | 57,981,804 | 56,375,000
Carrying value |  |
Investments: |  |
Carrying value | 30,554,359 | 30,387,896
Liabilities: |  |
Carrying Value | 57,035,164 | 54,695,646
Fair value |  |
Investments: |  |
Fair value | 30,551,111 | 30,642,182
Liabilities: |  |
Fair Value | 55,534,522 | 55,263,703
Level 1 | Unsecured note payable |  |
Liabilities: |  |
Principal | 38,375,000 | 38,375,000
Unamortized purchase discount | 1,100,000 | 1,900,000
Level 1 | Unsecured note payable | Carrying value |  |
Liabilities: |  |
Unsecured notes payable | 37,232,292 | 36,521,684
Level 1 | Unsecured note payable | Fair value |  |
Liabilities: |  |
Unsecured notes payable | 35,734,800 | 37,008,850
Loans held for investment | Level 3 |  |
Investments: |  |
Principal Balance | 20,224,740 | 18,567,296
Loans held for investment | Level 3 | Carrying value |  |
Investments: |  |
Carrying value | 20,426,987 | 18,575,895
Loans held for investment | Level 3 | Fair value |  |
Investments: |  |
Fair value | 20,423,739 | 18,830,181
Loans held for investment acquired through participation | Level 3 |  |
Investments: |  |
Principal Balance | 27,450,261 | 27,335,157
Loans held for investment acquired through participation | Level 3 | Carrying value |  |
Investments: |  |
Carrying value | 10,127,372 | 11,812,001
Loans held for investment acquired through participation | Level 3 | Fair value |  |
Investments: |  |
Fair value | $ 10,127,372 | $ 11,812,001
Unsecured note payable | Level 1 |  |
Liabilities: |  |
Share price (in dollars per share) | $ 23.28 | $ 24.11
Obligation under participation agreement | Level 3 |  |
Liabilities: |  |
Principal | $ 19,606,804 | $ 18,000,000
Obligation under participation agreement | Level 3 | Carrying value |  |
Liabilities: |  |
Obligation under participation agreement | 19,802,872 | 18,173,962
Obligation under participation agreement | Level 3 | Fair value |  |
Liabilities: |  |
Obligation under participation agreement | $ 19,799,722 | $ 18,254,853

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