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Debt - Narratives - Term Loan (Details) - USD ($) | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | Sep. 03, 2020
Debt Instrument |  |  |  |
Payment of financing costs | $ 895,247 | $ 641,446 |  |
Proceeds from borrowings under the term loan | 0 | 1,469,656 |  |
Repayment of borrowings under the term loan | 93,763,471 | 2,600,000 |  |
Principal amount | 453,638,529 |  | $ 370,566,055 |
Interest expense on secured borrowing | 552,785 | 299,805 |  |
Cash and cash equivalents | $ 9,858,153 | $ 18,464,161 | 35,783,956 |
Term Loan |  |  |  |
Debt Instrument |  |  |  |
Principal amount |  |  | $ 93,763,470 |
Maturity Date | Mar. 14, 2025 |  |  |
Indenture and credit Agreement | Class B Loan |  |  |  |
Debt Instrument |  |  |  |
Principal amount |  |  |  | $ 76,700,000
Indenture and credit Agreement | Term Loan |  |  |  |
Debt Instrument |  |  |  |
Principal amount |  |  |  | $ 103,000,000
Interest expense on secured borrowing | $ 400,000 |  |  |
Description of Variable Rate Basis | LIBOR |  |  |
Covenant Description | In connection with the Indenture and Credit Agreement, the Company entered into a non-recourse carveout Guaranty (the “Guaranty”) in favor of Goldman, pursuant to which the Company guaranteed the payment of certain losses, damages, costs, expenses, and other obligations incurred by Goldman in connection with the occurrence of fraud, intentional misrepresentation, or willful misconduct by the Issuer, Class B Holder or the Company, and certain other occurrences including breaches of certain provisions under the Indenture and Credit Agreement. The Company also guaranteed the payment of the aggregate outstanding amount of the Term Loan upon the occurrence of certain bankruptcy events. Under the Guaranty, the Company was required to maintain (a) a minimum tangible net worth in an amount not less than seventy-five percent (75%) of its tangible net worth as of September 3, 2020, (b) a minimum liquidity of $10 million, and (c) an EBITDA to interest expense ratio of not less than 1.5 to 1.0. Failure to satisfy such maintenance covenants would constitute an event of default under the Indenture and Credit Agreement. |  |  |
Indenture and credit Agreement | Term Loan | Minimum |  |  |  |
Debt Instrument |  |  |  |
Debt Instrument Covenant Liquidity | $ 10,000,000 |  |  |
Indenture and credit Agreement | Term Loan | Maximum |  |  |  |
Debt Instrument |  |  |  |
EBITDA To interest expense ratio | 1.5 |  |  |
Indenture and credit Agreement | Term Loan | LIBOR |  |  |  |
Debt Instrument |  |  |  |
Debt Instrument, Basis Spread on Variable Rate | 4.25% |  |  |
Debt instrument covenant requirement on consolidated tangible net worth minimum percent | 75.00% |  |  |
Debt Instrument Additional Variable Rate in Year Two | 0.50% |  |  |
Debt Instrument Additional Variable Rate in Year Three | 0.25% |  |  |
Indenture and credit Agreement | Term Loan | LIBOR | Floor rate |  |  |  |
Debt Instrument |  |  |  |
Debt Instrument, Basis Spread on Variable Rate | 1.00% |  |  |

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