Chicago Atlantic BDC (LIEN) 10-Q7 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 05, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-40564
Entity Registrant Name	CHICAGO ATLANTIC BDC, INC.
Entity Central Index Key	0001843162
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	86-2872887
Entity Address, Address Line One	600 Madison Avenue, Suite 1800
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	905-4923
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	LIEN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		22,820,367

Statements of Assets and Liabil

Statements of Assets and Liabilities - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Investments at fair value:
Cash and cash equivalents	$ 30,111,563	$ 32,611,635
Interest receivable	1,635,943	1,755,360
Deferred offering costs	1,125,739	0
Other receivable	401,313	0
Prepaid expenses	103,554	39,276
Other assets	50,000	50,000
Deferred financing costs	41,061	0
Paydown receivable	21,000	0
Total assets	89,278,684	88,576,271
LIABILITIES
Transaction fees payable related to the Loan Portfolio Acquisition	4,795,549	711,264
Offering costs payable	986,806	0
Management fee payable	253,421	257,121
Audit fees payable	213,523	123,998
Capital gains incentive fees payable	125,048	87,583
Legal fees payable	88,435	84,824
Administrator fees payable	51,251	86,463
Unearned interest income	42,550	0
Deferred financing costs payable	41,061	0
Directors fees payable	25,992	94,760
Valuation fees payable	22,468	24,675
Professional fees payable	17,500	17,233
Income-based incentive fees payable	0	1,511,253
Distributions payable	0	2
Excise tax payable	0	10,655
Total liabilities	6,739,042	3,023,653
Commitments and contingencies (Note 6)
NET ASSETS
Common Stock, $0.01 par value, 100,000,000 shares authorized, 6,214,995 and 6,214,941 shares issued and outstanding, respectively	62,149	62,149
Additional paid-in-capital	85,031,106	85,041,203
Distributable earnings (Accumulated losses)	(2,553,613)	449,266
Total net assets	82,539,642	85,552,618
Total liabilities and net assets	$ 89,278,684	$ 88,576,271
NET ASSET VALUE PER SHARE (in dollars per share)	$ 13.28	$ 13.77
Nonrelated Party [Member]
LIABILITIES
Other payables	$ 24,296	$ 13,822
Related Party [Member]
LIABILITIES
Other payables	51,142	0
Investment, Unaffiliated Issuer [Member]
Investments at fair value:
Non-control/non-affiliate investments at fair value (amortized cost of $54,952,504 and $53,471,317, respectively)	$ 55,788,511	$ 54,120,000

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Parenthetical) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Amortized cost	$ 54,952,504	$ 53,471,317
NET ASSETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,214,995	6,214,941
Common stock, shares outstanding (in shares)	6,214,995	6,214,941
Investment, Unaffiliated Issuer [Member]
ASSETS
Amortized cost	$ 54,952,504	$ 53,471,317

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended			9 Months Ended
Statements of Operations - USD ($)	Sep. 30, 2024		Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Non-control/non-affiliate investment income
Fee income	$ 489,176		$ 31,250	$ 813,926	$ 162,500
EXPENSES
Transaction expenses related to the Loan Portfolio Acquisition	2,429,993		0	5,069,062	0
Management fee	253,421		264,565	745,876	760,473
Income-based incentive fees	0		405,247	328,503	1,051,741
Audit expense	95,675		223,982	299,225	409,365
Administrator fees	98,489		84,617	298,132	250,314
Legal expenses	60,200		148,292	200,073	334,308
Insurance expense	66,939		67,122	199,430	202,597
Other expenses	40,546		22,210	107,213	61,918
Director expenses	25,992		38,223	80,311	105,913
Professional fees	59,780		15,841	74,694	51,808
Valuation fees	22,990		22,890	50,043	116,955
Capital gains incentive fees	(35,904)		(5,000)	37,465	0
Custodian fees	12,000		12,000	35,850	36,000
Excise tax expense	31,314		0	31,314	0
Total expenses	3,161,435		1,299,989	7,557,191	3,381,392
NET INVESTMENT INCOME (LOSS)	14,512		1,616,986	1,460,336	4,887,121
NET REALIZED GAIN (LOSS) FROM INVESTMENTS
Net realized gain (loss) from investments	0		0	0	(210,767)
NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) FROM INVESTMENTS
Net change in unrealized appreciation (depreciation) from investments	(179,524)		(343,104)	187,324	166,012
Net realized and unrealized gains (losses)	(179,524)		(343,104)	187,324	(44,755)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$ (165,012)		$ 1,273,882	$ 1,647,660	$ 4,842,366
NET INVESTMENT INCOME (LOSS) PER SHARE - BASIC (in dollars per share)	$ 0	[1]	$ 0.26	$ 0.23	$ 0.79
NET INVESTMENT INCOME (LOSS) PER SHARE - DILUTED (in dollars per share)	0		0.26	0.23	0.79
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - BASIC (in dollars per share)	(0.03)		0.2	0.27	0.78
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - DILUTED (in dollars per share)	$ (0.03)		$ 0.2	$ 0.27	$ 0.78
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares)	6,214,965		6,214,673	6,214,952	6,214,672
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares)	6,214,965		6,214,673	6,214,952	6,214,672
Investment, Unaffiliated Issuer [Member]
Non-control/non-affiliate investment income
Interest income	$ 2,686,771		$ 2,885,725	$ 8,203,601	$ 8,106,013
Fee income	489,176		31,250	813,926	162,500
Total investment income	3,175,947		2,916,975	9,017,527	8,268,513
NET REALIZED GAIN (LOSS) FROM INVESTMENTS
Net realized gain (loss) from investments	0		0	0	(210,767)
NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) FROM INVESTMENTS
Net change in unrealized appreciation (depreciation) from investments	$ (179,524)		$ (343,104)	$ 187,324	$ 166,012

[1]Represents less than $0.005 per share

Statements of Changes in Net As

Statements of Changes in Net Assets - USD ($)	3 Months Ended		9 Months Ended
Statements of Changes in Net Assets - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Common Stock [Member]
Investment Company, Net Assets [Roll Forward]
Beginning balance	$ 62,149	$ 62,147	$ 62,149	$ 62,147
Beginning balance (in shares)	6,214,964	6,214,672	6,214,941	6,214,672
Net increase (decrease) in net assets resulting from operations
Net investment income (loss)	$ 0	$ 0	$ 0	$ 0
Net realized gain (loss) from investments	0	0	0	0
Net change in unrealized appreciation (depreciation) from investments	0	0	0	0
Total net increase (decrease) in net assets resulting from operations	0	0	0	0
Distributions to stockholders from:
Investment income-net	0	0	0	0
Capital transactions
Issuance of common stock				$ 0
Issuance of common stock (in shares)				0
Reinvestment of stockholder distributions	$ 0	$ 0	$ 0	$ 0
Reinvestment of stockholder distributions (in shares)	31	33	54	33
Total net increase (decrease) in net assets from capital transactions	$ 0	$ 0	$ 0	$ 0
Total net increase (decrease) in net assets from capital transactions (in shares)	31	33	54	33
Total increase (decrease) in net assets	$ 0	$ 0	$ 0	$ 0
Total increase (decrease) in net assets (in shares)	31	33	54	33
Effect of permanent adjustments			$ 0	$ 0
Ending balance	$ 62,149	$ 62,147	$ 62,149	$ 62,147
Ending balance (in shares)	6,214,995	6,214,705	6,214,995	6,214,705
Additional Paid-in Capital [Member]
Investment Company, Net Assets [Roll Forward]
Beginning balance	$ 85,030,784	$ 85,038,887	$ 85,041,203	$ 84,917,788
Net increase (decrease) in net assets resulting from operations
Net investment income (loss)	0	0	0	0
Net realized gain (loss) from investments	0	0	0	0
Net change in unrealized appreciation (depreciation) from investments	0	0	0	0
Total net increase (decrease) in net assets resulting from operations	0	0	0	0
Distributions to stockholders from:
Investment income-net	0	0	0	0
Capital transactions
Issuance of common stock				0
Reinvestment of stockholder distributions	322	321	579	321
Total net increase (decrease) in net assets from capital transactions	322	321	579	321
Total increase (decrease) in net assets	322	321	579	321
Effect of permanent adjustments			(10,676)	121,099
Ending balance	85,031,106	85,039,208	85,031,106	85,039,208
Distributable Earnings/(Accumulated Loss) [Member]
Investment Company, Net Assets [Roll Forward]
Beginning balance	(834,860)	4,943,179	449,266	1,495,794
Net increase (decrease) in net assets resulting from operations
Net investment income (loss)	14,512	1,616,986	1,460,336	4,887,121
Net realized gain (loss) from investments	0	0	0	(210,767)
Net change in unrealized appreciation (depreciation) from investments	(179,524)	(343,104)	187,324	166,012
Total net increase (decrease) in net assets resulting from operations	(165,012)	1,273,882	1,647,660	4,842,366
Distributions to stockholders from:
Investment income-net	(1,553,741)	(3,915,564)	(4,661,215)	(3,915,564)
Capital transactions
Issuance of common stock				0
Reinvestment of stockholder distributions	0	0	0	0
Total net increase (decrease) in net assets from capital transactions	0	0	0	0
Total increase (decrease) in net assets	(1,718,753)	(2,641,682)	(3,013,555)	926,802
Effect of permanent adjustments			10,676	(121,099)
Ending balance	(2,553,613)	2,301,497	(2,553,613)	2,301,497
Beginning balance	84,258,073	90,044,213	85,552,618	86,475,729
Net investment income (loss)	14,512	1,616,986	1,460,336	4,887,121
Net realized gain (loss) from investments	0	0	0	(210,767)
Net change in unrealized appreciation (depreciation) from investments	(179,524)	(343,104)	187,324	166,012
Total net increase (decrease) in net assets resulting from operations	(165,012)	1,273,882	1,647,660	4,842,366
Investment income-net	(1,553,741)	(3,915,564)	(4,661,215)	(3,915,564)
Issuance of common stock				0
Reinvestment of stockholder distributions	322	321	579	321
Total net increase (decrease) in net assets from capital transactions	322	321	579	321
Total increase (decrease) in net assets	(1,718,431)	(2,641,361)	(3,012,976)	927,123
Effect of permanent adjustments			0	0
Ending balance	$ 82,539,642	$ 87,402,852	$ 82,539,642	$ 87,402,852

Statements of Cash Flows

Statements of Cash Flows - USD ($)	9 Months Ended
Statements of Cash Flows - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net increase (decrease) in net assets resulting from operations	$ 1,647,660	$ 4,842,366
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net realized (gain) loss from investments	0	210,767
Net change in unrealized (appreciation) depreciation from investments	(187,324)	(166,012)
Net (accretion of discounts) and amortization of premiums	(501,303)	(431,052)
Purchase of investments	(5,141,250)	(8,442,000)
PIK interest capitalized	(182,634)	(78,153)
Proceeds from sales of investments and principal repayments	4,344,000	1,780,000
(Increase)/Decrease in operating assets:
Other receivable	(401,313)	0
Interest receivable	119,417	(270,594)
Paydown receivable	(21,000)	0
Other assets	0	(50,000)
Prepaid expenses	(64,278)	(71,515)
Increase/(Decrease) in operating liabilities:
Income-based incentive fees payable	(1,511,253)	1,051,741
Management fee payable	(3,700)	93,600
Capital gains incentive fees payable	37,465	0
Legal fees payable	3,611	108,452
Transaction fees payable related to the Loan Portfolio Acquisition	4,084,285	0
Valuation fees payable	(2,207)	94,130
Administrator fees payable	(35,212)	24,648
Audit fees payable	89,525	25,165
Directors fees payable	(68,768)	2,719
Professional fees payable	267	(10,679)
Other payables	10,474	(22,740)
Unearned interest income	42,550	0
Due to affiliate	51,142	261
Excise tax payable	(10,655)	(80,566)
Net cash provided by (used in) operating activities	2,299,499	(1,389,462)
Cash flows from financing activities
Offering costs paid	(138,933)	0
Distributions paid	(4,660,638)	(3,914,922)
Net cash provided by (used in) financing activities	(4,799,571)	(3,914,922)
Net increase (decrease) in cash and cash equivalents	(2,500,072)	(5,304,384)
Cash and cash equivalents, beginning of period	32,611,635	35,125,320
Cash and cash equivalents, end of period	30,111,563	29,820,936
Supplemental and non-cash financing activities
Reinvestment of dividend distributions	579	321
Accrual for deferred financing costs	41,061	0
Accrual for deferred offering costs	$ 1,127,739	$ 0

Schedule of Investments

Schedule of Investments - USD ($)			9 Months Ended		12 Months Ended
Schedule of Investments - USD ($)		Sep. 28, 2024	Sep. 30, 2024		Dec. 31, 2023
Investments [Abstract]
Amortized cost			$ 54,952,504		$ 53,471,317
Fair value			$ 55,788,511		54,120,000
Investment, Identifier [Axis]: Aeriz Holdings Corp. First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.00% Spread 6.00% Cash 2.00% PIK Coupon 16.00% Due 6/30/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:AerizHoldingsCorpMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Jun. 30, 2025
Principal amount		$ 10,471,115
Fair value	[1]	$ 10,400,871
Investment, Identifier [Axis]: Archos Capital Group, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 8.50% Spread 5.75% Coupon 14.25% Due 12/31/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ArchosCapitalGroupLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Dec. 31, 2024
Principal amount		$ 1,800,824
Fair value	[1]	$ 1,812,492
Investment, Identifier [Axis]: Ascend Wellness Holdings, Inc. Senior Secured Notes Due 07/16/2029 Fixed Interest Rate 12.75%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[3],[4]		lien:AscendWellnessHoldingsIncMember
Investment, Type [Extensible Enumeration]	[5]		lien:SeniorSecuredNoteMember
Investment, Significant Unobservable Input [true false]			true
Investment date	[6]		Jul. 16, 2024
Maturity date			Jul. 16, 2029
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		Northeast [Member]
Principal amount	[9]		$ 3,500,000
Amortized cost			3,322,000
Fair value	[10]		$ 3,322,000
Percentage of net assets			4.02%
Investment, Identifier [Axis]: Aura Home, Inc. First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 4.00% Spread 7.50% Coupon 12.34% Due 9/22/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:AuraHomeIncMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Sep. 22, 2025
Principal amount		$ 3,325,000
Fair value	[1]	3,275,125
Investment, Identifier [Axis]: CALP Loan Portfolio
Investments [Abstract]
Principal amount		219,532,543
Fair value	[1]	$ 219,621,125
Investment, Identifier [Axis]: Cash Equivalents
Investments [Abstract]
Amortized cost			$ 30,112,000		32,612,000
Fair value	[10]		$ 30,112,000		$ 32,612,000
Percentage of net assets			36.48%	[11]	38.12%	[12]
Investment, Identifier [Axis]: Curaleaf Holdings, Inc. Senior Secured Notes Due 12/15/2026 Fixed Interest Rate 8%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[4]		lien:CuraleafHoldingsIncMember	[3]	lien:CuraleafHoldingsIncMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredNoteMember	[5]	lien:SeniorSecuredNoteMember	[4],[13]
Investment, Significant Unobservable Input [true false]			true		true
Investment date	[6]		Oct. 11, 2022		Oct. 11, 2022	[4]
Maturity date			Dec. 15, 2026		Dec. 15, 2026	[4]
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]		Significant Unobservable Inputs (Level 3) [Member]	[4]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		Northeast [Member]		Northeast [Member]	[4]
Principal amount	[9]		$ 4,500,000		$ 4,500,000	[4]
Amortized cost			4,102,000		3,989,000	[4]
Fair value	[10]		$ 4,298,000		$ 4,140,000	[4]
Percentage of net assets			5.21%		4.84%	[4]
Investment, Identifier [Axis]: Debt Securities
Investments [Abstract]
Amortized cost			$ 54,210,000
Fair value	[10]		$ 55,113,000
Percentage of net assets			66.77%
Investment, Identifier [Axis]: Debt and Equity Securities
Investments [Abstract]
Amortized cost			$ 54,953,000
Fair value	[10]		$ 55,789,000
Percentage of net assets			67.59%
Investment, Identifier [Axis]: Deep Roots Harvest, Inc. First Lien Senior Secured Delayed Draw Term Loan - Unfunded Reference Rate 8.00% Floor 8.00% Spread 6.50% Coupon 14.50% Due 8/15/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:DeepRootsHarvestIncMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanUnfundedMember
Maturity date		Aug. 15, 2027
Principal amount		$ 5,000,000
Fair value	[1]	$ 4,850,000
Investment, Identifier [Axis]: Dreamfields Brands, Inc. (Jeeter) First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.50% Spread 8.75% Coupon 16.75% Due 5/3/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:DreamfieldsBrandsIncJeeterMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		May 03, 2026
Principal amount		$ 23,550,000
Fair value	[1]	$ 23,865,963
Investment, Identifier [Axis]: Dreamfields Brands, Inc. Senior Secured First Lien Term Loan Due 5/3/2026 Variable Interest Rate Prime Spread 8.75% PRIME Floor 7.5%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[4]		lien:DreamfieldsBrandsIncMember	[3]	lien:DreamfieldsBrandsIncMember
Investment, Type [Extensible Enumeration]	[5]		lien:SeniorSecuredFirstLienTermLoanMember		lien:SeniorSecuredFirstLienTermLoanMember	[4]
Investment, Significant Unobservable Input [true false]			true		true
Investment date	[6]		May 03, 2023		May 03, 2023	[4]
Maturity date			May 03, 2026		May 03, 2026	[4]
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]		Significant Unobservable Inputs (Level 3) [Member]	[4]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		West [Member]		West [Member]	[4]
Principal amount	[9]		$ 4,320,000		$ 4,320,000	[4]
Amortized cost			4,254,000		4,229,000	[4]
Fair value	[10]		$ 4,320,000		$ 4,320,000	[4]
Percentage of net assets			5.23%		5.05%	[4]
Investment, Identifier [Axis]: Elevation Cannabis, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 8.50% Spread 7.75% Coupon 16.25% Due 12/31/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ElevationCannabisLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Dec. 31, 2026
Principal amount		$ 14,750,000
Fair value	[1]	$ 14,500,582
Investment, Identifier [Axis]: Equity Securities
Investments [Abstract]
Amortized cost			$ 743,000
Fair value			$ 676,000
Percentage of net assets			0.82%
Investment, Identifier [Axis]: Flowery - Bill's Nursery, Inc. First Lien Senior Secured Delayed Draw Term Loan Coupon 11.00% cash 5.00% PIK Due 12/31/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:FloweryBillSNurseryIncMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Dec. 31, 2025
Principal amount		$ 9,494,063
Fair value	[1]	$ 9,568,960
Investment, Identifier [Axis]: HA-MD, LLC First Lien Senior Secured Term Loan Coupon 15.00% Due 6/6/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HAMDLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Jun. 06, 2026
Principal amount		$ 3,395,000
Fair value	[1]	$ 3,436,023
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 1/6/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HartfordGoldGroupLLCOneMember, lien:HartfordGoldGroupLLCTwoMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Jan. 06, 2027
Principal amount		$ 1,927,965
Fair value	[1]	$ 1,671,784
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 11/30/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HartfordGoldGroupLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Nov. 30, 2024
Principal amount		$ 91,043
Fair value	[1]	$ 92,146
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 12/17/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HartfordGoldGroupLLCOneMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Dec. 17, 2025
Principal amount		$ 543,132
Fair value	[1]	$ 527,991
Investment, Identifier [Axis]: Investments and Cash Equivalents
Investments [Abstract]
Investment, Issuer [Extensible Enumeration]			Investment, Unaffiliated Issuer [Member]		Investment, Unaffiliated Issuer [Member]
Amortized cost			$ 85,065,000		$ 86,083,000
Fair value	[10]		$ 85,901,000		$ 86,732,000
Percentage of net assets			104.07%		101.38%
Investment, Identifier [Axis]: Minden Holdings, LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Spread 7.25% Coupon 15.25% Due 5/31/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:MindenHoldingsLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		May 31, 2026
Principal amount		$ 3,000,000
Fair value	[1]	$ 3,038,063
Investment, Identifier [Axis]: Non Qualifying Assets
Investments [Abstract]
Percentage of net assets	[14]		24.89%		29.30%
Investment, Identifier [Axis]: Nova Farms, LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 6.50% Coupon 15.00% Due 3/28/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:NovaFarmsLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Mar. 28, 2027
Principal amount		$ 16,050,000
Fair value	[1]	$ 15,017,271
Investment, Identifier [Axis]: Oasis - AZ GOAT AZ LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.00% Spread 7.50% Coupon 15.50% Due 3/31/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:OasisAZGOATAZLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Mar. 31, 2026
Principal amount		$ 5,400,000
Fair value	[1]	$ 5,388,600
Investment, Identifier [Axis]: PharmaCann, Inc. Senior Secured Loan Due 6/30/2025 Fixed Interest Rate 12%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[4]		lien:PharmaCannIncMember	[3]	lien:PharmaCannIncMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredNoteMember	[5]	lien:SeniorSecuredNoteMember	[4],[13]
Investment, Significant Unobservable Input [true false]			true		true
Investment date	[6]		Jun. 30, 2022		Jun. 30, 2022	[4]
Maturity date			Jun. 30, 2025		Jun. 30, 2025	[4]
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]		Significant Unobservable Inputs (Level 3) [Member]	[4]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		Midwest [Member]		Midwest [Member]	[4]
Principal amount	[9]		$ 4,250,000		$ 4,250,000	[4]
Amortized cost			4,177,000		4,109,000	[4]
Fair value	[10]		$ 4,123,000		$ 3,974,000	[4]
Percentage of net assets			5%		4.65%	[4]
Investment, Identifier [Axis]: Proper Holdings, LLC First Lien Senior Secured Delayed Draw Term Loan Coupon 11.00% Cash 2.00% PIK Due 5/30/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ProperHoldingsLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		May 30, 2025
Principal amount		$ 4,544,484
Fair value	[1]	$ 4,592,075
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar) First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 1.75% Cash 3.00% PIK Coupon 13.25% Due 11/1/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ProtectAnimalsWithSatellitesLLCHaloCollarMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Nov. 01, 2026
Principal amount		$ 3,687,984
Fair value	[1]	$ 3,450,749
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar) Incremental First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 1.75% Cash 3.00% PIK Coupon 13.25% Due 11/1/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ProtectAnimalsWithSatellitesLLCHaloCollarOneMember
Investment, Type [Extensible Enumeration]		lien:IncrementalFirstLienSeniorSecuredTermLoanMember
Maturity date		Nov. 01, 2026
Principal amount		$ 2,000,000
Fair value	[1]	$ 1,870,611
Investment, Identifier [Axis]: RTCP, LLC (f/k/a RevTek Capital, LLC) First Lien Senior Secured Note Coupon 15.00% Due 10/2/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:RTCPLLCFKARevTekCapitalLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredNoteMember
Maturity date		Oct. 02, 2028
Principal amount		$ 22,000,000
Fair value	[1]	$ 22,265,833
Investment, Identifier [Axis]: Real Estate Services, Debt Securities
Investments [Abstract]
Principal amount	[9]		$ 1,352,000
Amortized cost			1,119,000
Fair value	[10]		$ 1,260,000
Percentage of net assets			1.53%
Investment, Identifier [Axis]: Real Estate Services, Equity Securities
Investments [Abstract]
Amortized cost			$ 743,000
Fair value			$ 676,000
Percentage of net assets			0.82%
Investment, Identifier [Axis]: Remedy - Maryland Wellness, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 5.00% Spread 7.50% Cash 3.50% PIK Coupon 19.00% Due 8/4/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:RemedyMarylandWellnessLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Aug. 04, 2025
Principal amount		$ 3,243,569
Fair value	[1]	$ 3,213,431
Investment, Identifier [Axis]: STIIIZY, Inc. (f/k/a Shryne Group Inc.) First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 4.00% Spread 8.50% Cash 1.00% PIK Coupon 17.50% Due 5/22/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:STIIIZYIncFKAShryneGroupIncMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date	[15]	May 26, 2026
Principal amount		$ 13,781,063
Fair value	[1]	$ 14,310,218
Investment, Identifier [Axis]: STIIIZY, Inc. Senior Secured First Lien Term Loan Due 5/26/2026 Variable Interest Rate Prime Spread 8.5% Prime Floor 4.0% PIK 1.0%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[4]		lien:ShryneGroupIncMember	[3]	lien:ShryneGroupIncMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredFirstLienTermLoanMember	[5]	lien:SeniorSecuredFirstLienTermLoanMember	[4],[13]
Investment, Significant Unobservable Input [true false]			true		true
Investment date	[6]		May 26, 2022		May 26, 2022	[4]
Maturity date			May 26, 2027		May 26, 2026	[4]
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]		Significant Unobservable Inputs (Level 3) [Member]	[4]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		West [Member]		West [Member]	[4]
Principal amount	[9]		$ 20,066,000		$ 21,065,000	[4]
Amortized cost			19,800,000		20,682,000	[4]
Fair value	[10]		$ 19,865,000		$ 20,749,000	[4]
Percentage of net assets			24.06%		24.25%	[4]
Investment, Identifier [Axis]: SimSpace Corp. First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.25% Spread 10.00% Coupon 18.50% Due 11/1/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:SimSpaceCorpMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Nov. 01, 2025
Principal amount		$ 6,775,077
Fair value	[1]	$ 6,977,670
Investment, Identifier [Axis]: State Street Institutional U.S. Government Money Market Fund
Investments [Abstract]
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[12]		Quoted Prices in Active Markets for Identical Assets (Level 1) Member	[11]	Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Amortized cost			$ 30,112,000	[11]	$ 32,612,000
Fair value	[10]		$ 30,112,000	[11]	$ 32,612,000
Percentage of net assets			36.48%	[11]	38.12%	[12]
Investment, Identifier [Axis]: Story of Maryland, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 3.25% Spread 8.75% Cash 2.00% PIK Coupon 18.75% Due 10/4/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:StoryOfMarylandLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Oct. 04, 2024
Principal amount		$ 9,000,000
Fair value	[1]	$ 9,072,188
Investment, Identifier [Axis]: Subsero Holdings - Illinois, Inc. First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.00% Spread 7.00% Cash 2.00% PIK Coupon 17.00% Due 7/29/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:SubseroHoldingsIllinoisIncMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Jul. 29, 2026
Principal amount		$ 2,996,239
Fair value	[1]	$ 2,942,693
Investment, Identifier [Axis]: Sunny Days Enterprises, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 3.50% Spread 4.75% Cash 8.00% PIK Coupon 20.75% Due 3/31/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:SunnyDaysEnterprisesLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Maturity date		Mar. 31, 2025
Principal amount		$ 2,871,079
Fair value	[1]	$ 2,948,937
Investment, Identifier [Axis]: Verano Holdings Corp. First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 6.25% Spread 6.50% Coupon 14.50% Due 10/30/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:VeranoHoldingsCorpMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Oct. 30, 2026
Principal amount		$ 34,245,350
Fair value	[1]	$ 34,994,818
Investment, Identifier [Axis]: Verano Holdings Corp. Senior Secured First Lien Term Loan Due 10/30/2026 Variable Interest Rate Prime Spread 6.5% Prime Floor 6.25%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[4]		lien:VeranoHoldingsCorpMember	[3]	lien:VeranoHoldingsCorpMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredFirstLienTermLoanMember	[5]	lien:SeniorSecuredFirstLienTermLoanMember	[4],[13]
Investment, Significant Unobservable Input [true false]			true		true
Investment date	[6]		Oct. 27, 2022		Oct. 27, 2022	[4]
Maturity date			Oct. 30, 2026		Oct. 30, 2026	[4]
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]		Significant Unobservable Inputs (Level 3) [Member]	[4]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		Midwest [Member]		Midwest [Member]	[4]
Principal amount	[9]		$ 17,748,000		$ 20,937,000	[4]
Amortized cost			17,436,000		20,462,000	[4]
Fair value	[10]		$ 17,925,000		$ 20,937,000	[4]
Percentage of net assets			21.72%		24.47%	[4]
Investment, Identifier [Axis]: West Creek Financial Holdings, Inc. d/b/a Koalafi Series A Senior Note Spread 13.80% Cash 5.00% PIK Due 11/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:WestCreekFinancialHoldingsIncDBAKoalafiMember
Investment, Type [Extensible Enumeration]		lien:SeriesASeniorNoteMember
Maturity date		Nov. 29, 2027
Principal amount		$ 5,081,746
Fair value	[1]	$ 5,133,298
Investment, Identifier [Axis]: Wholesale Trade Debt Securities
Investments [Abstract]
Principal amount	[9]		$ 54,384,000		$ 55,072,000
Amortized cost			53,091,000		53,471,000
Fair value	[10]		$ 53,853,000		$ 54,120,000
Percentage of net assets			65.24%		63.26%
Investment, Identifier [Axis]: Workbox Holdings, Inc. Senior Secured First Lien Term Loan Due 5/31/2029 Fixed Interest Rate 6.0% PIK 6.0% Invested on 05/20/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[3],[4]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]	[5]		lien:SeniorSecuredFirstLienTermLoanMember
Investment date	[6]		May 20, 2024
Maturity date			May 31, 2029
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]	[7]		Significant Unobservable Inputs (Level 3) [Member]
Investment, Issuer Geographic Region [Extensible Enumeration]	[8]		Midwest [Member]
Principal amount	[9]		$ 1,352,000
Amortized cost			1,119,000
Fair value	[10]		$ 1,260,000
Percentage of net assets			1.53%
Total delayed draw loan commitments			$ 2,830,000
Less: funded commitments			1,330,000
Unfunded commitments			1,500,000
Less: commitments substantially at discretion of the Company			0
Less: unavailable commitments due to borrowing base or other covenant restrictions			0
Total net delayed draw commitments			$ 1,500,000
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-1 Preferred Shares
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[3],[4]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]			us-gaap:EquityMember
Investment date			May 20, 2024
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]			Significant Unobservable Inputs (Level 3) [Member]
Investment, Issuer Geographic Region [Extensible Enumeration]			Midwest [Member]
Investment owned shares (in shares)			358,950
Amortized cost			$ 500,000
Fair value			$ 500,000
Percentage of net assets			0.60%
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-3 Preferred Stock Warrant
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[3],[4]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]			lien:WarrantsA3Member
Investment date			May 20, 2024
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]			Significant Unobservable Inputs (Level 3) [Member]
Investment, Issuer Geographic Region [Extensible Enumeration]			Midwest [Member]
Investment owned shares (in shares)			791,258
Amortized cost			$ 97,000
Fair value			$ 71,000
Percentage of net assets			0.09%
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-4 Preferred Stock Warrant
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[2],[3],[4]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]			lien:WarrantsA4Member
Investment date			May 20, 2024
Debt Securities, Fair Value by Fair Value Hierarchy Level [Extensible Enumeration]			Significant Unobservable Inputs (Level 3) [Member]
Investment, Issuer Geographic Region [Extensible Enumeration]			Midwest [Member]
Investment owned shares (in shares)			1,191,769
Amortized cost			$ 146,000
Fair value			$ 105,000
Percentage of net assets			0.13%
Investment, Identifier [Axis]: Youth Opportunity Investments, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 4.00% Spread 7.75% Coupon 12.59% Due 9/18/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:YouthOpportunityInvestmentsLLCMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Maturity date		Sep. 18, 2026
Principal amount		$ 10,507,813
Fair value	[1]	$ 10,402,734

[1]Transaction Fair Value represents the fair value, as of September 28, 2024, determined by the Company for such investment for purposes of the Loan Portfolio Acquisition. For each investment, Transaction Fair Value includes fair value and accrued but unpaid interest (including uncapitalized payment-in-kind interest) through September 28, 2024, for such investment (if any).[2]All portfolio companies are located in the United States, as determined by the location of the portfolio company’s headquarters.[3]As of September 30, 2024, the Company had the following commitment to fund a senior secured loan. Such commitment is subject to the satisfaction of certain conditions set forth in the documents governing the loan and there can be no assurance that such conditions will be satisfied.[4]The Company uses the North American Industry Classification System (“NAICS”) code for classifying the industry grouping of its portfolio companies.[5]No debt investment is non-income producing as of September 30, 2024. All equity and warrant investments are non-income producing as of September 30, 2024 unless otherwise noted.[6]Investment date represents the date of initial investment, at which date interest began accruing.[7]See Note 2 – Significant Accounting Policies and Note 4 — Fair Value of Financial Instruments in the accompanying notes to the financial statements.[8]Geographic regions are determined by the respective portfolio company’s headquarters’ location.[9]Principal is net of repayments, if any, as per the terms of the debt instrument’s contract.[10]All investments were valued at fair value. See Note 4 — Fair Value of Financial Instruments in the accompanying notes to the financial statements.[11]The annualized seven-day yield as of September 30, 2024 is 4.94%.[12]The annualized seven-day yield as of December 31, 2023 is 5.32%.[13]No debt investment is non-income producing as of December 31, 2023.[14]Under the Investment Company Act of 1940, as amended (the “1940 Act”), a business development company (“BDC”) may not acquire any “non-qualifying asset” (i.e., an asset other than assets of the type listed in Section 55(a) of the 1940 Act, which are referred to as “qualifying assets”), unless, at the time the acquisition is made, qualifying assets represent at least 70% of the BDC’s total assets. As of September 30, 2024 the aggregate fair value of non-qualifying assets is $22,223 or 24.89% of the Company’s total assets.[15]STIIIZY, Inc. maturity date was amended to 5/26/2027 on September 30, 2024.

Schedule of Investments (Parent

Schedule of Investments (Parenthetical) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2024		Dec. 31, 2023		Sep. 28, 2024
Investment, Identifier [Axis]: Aeriz Holdings Corp. First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.00% Spread 6.00% Cash 2.00% PIK Coupon 16.00% Due 6/30/2025
Investments [Abstract]
Basis spread on variable rate						6%
Floor rate						7%
Fixed interest rate	[1]					8%
PIK Interest Rate						2%
Investment, Identifier [Axis]: Archos Capital Group, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 8.50% Spread 5.75% Coupon 14.25% Due 12/31/2024
Investments [Abstract]
Basis spread on variable rate						5.75%
Floor rate						8.50%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Ascend Wellness Holdings, Inc. Senior Secured Notes Due 07/16/2029 Fixed Interest Rate 12.75%
Investments [Abstract]
Fixed interest rate	[2]	12.75%
Percentage of net assets		4.02%
Investment, Identifier [Axis]: Aura Home, Inc. First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 4.00% Spread 7.50% Coupon 12.34% Due 9/22/2025
Investments [Abstract]
Basis spread on variable rate						7.50%
Floor rate						4%
Fixed interest rate	[3]					4.84%
Investment, Identifier [Axis]: Cash Equivalents
Investments [Abstract]
Percentage of net assets		36.48%	[4]	38.12%	[5]
Investment, Identifier [Axis]: Curaleaf Holdings, Inc. Senior Secured Notes Due 12/15/2026 Fixed Interest Rate 8%
Investments [Abstract]
Fixed interest rate	[2]	8%		8%
Percentage of net assets		5.21%		4.84%	[6]
Investment, Identifier [Axis]: Debt Securities
Investments [Abstract]
Percentage of net assets		66.77%
Investment, Identifier [Axis]: Debt and Equity Securities
Investments [Abstract]
Percentage of net assets		67.59%
Investment, Identifier [Axis]: Deep Roots Harvest, Inc. First Lien Senior Secured Delayed Draw Term Loan - Unfunded Reference Rate 8.00% Floor 8.00% Spread 6.50% Coupon 14.50% Due 8/15/2027
Investments [Abstract]
Basis spread on variable rate						6.50%
Floor rate						8%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Dreamfields Brands, Inc. (Jeeter) First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.50% Spread 8.75% Coupon 16.75% Due 5/3/2026
Investments [Abstract]
Basis spread on variable rate						8.75%
Floor rate						7.50%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Dreamfields Brands, Inc. Senior Secured First Lien Term Loan Due 5/3/2026 Variable Interest Rate Prime Spread 8.75% PRIME Floor 7.5%
Investments [Abstract]
Basis spread on variable rate	[2]	8.75%		8.75%
Floor rate	[2]	7.50%		7.50%
Percentage of net assets		5.23%		5.05%	[6]
Investment, Identifier [Axis]: Elevation Cannabis, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 8.50% Spread 7.75% Coupon 16.25% Due 12/31/2026
Investments [Abstract]
Basis spread on variable rate						7.75%
Floor rate						8.50%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Equity Securities
Investments [Abstract]
Percentage of net assets		0.82%
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 1/6/2027
Investments [Abstract]
Basis spread on variable rate						9.85%
Floor rate						1.50%
Fixed interest rate	[3]					4.84%
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 11/30/2024
Investments [Abstract]
Basis spread on variable rate						9.85%
Floor rate						1.50%
Fixed interest rate	[3]					4.84%
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 12/17/2025
Investments [Abstract]
Basis spread on variable rate						9.85%
Floor rate						1.50%
Fixed interest rate	[3]					4.84%
Investment, Identifier [Axis]: Investments and Cash Equivalents
Investments [Abstract]
Percentage of net assets		104.07%		101.38%
Investment, Identifier [Axis]: Minden Holdings, LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Spread 7.25% Coupon 15.25% Due 5/31/2026
Investments [Abstract]
Basis spread on variable rate						7.25%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Non Qualifying Assets
Investments [Abstract]
Percentage of net assets	[7]	24.89%		29.30%
Aggregate fair value of securities	[7]	$ 22,223		$ 25,077
Investment, Identifier [Axis]: Nova Farms, LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 6.50% Coupon 15.00% Due 3/28/2027
Investments [Abstract]
Basis spread on variable rate						6.50%
Floor rate						8.50%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Oasis - AZ GOAT AZ LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.00% Spread 7.50% Coupon 15.50% Due 3/31/2026
Investments [Abstract]
Basis spread on variable rate						7.50%
Floor rate						8%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: PharmaCann, Inc. Senior Secured Loan Due 6/30/2025 Fixed Interest Rate 12%
Investments [Abstract]
Fixed interest rate	[2]	12%		12%
Percentage of net assets		5%		4.65%	[6]
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar) First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 1.75% Cash 3.00% PIK Coupon 13.25% Due 11/1/2026
Investments [Abstract]
Basis spread on variable rate						1.75%
Floor rate						8.50%
Fixed interest rate	[1]					8%
PIK Interest Rate						3%
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar) Incremental First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 1.75% Cash 3.00% PIK Coupon 13.25% Due 11/1/2026
Investments [Abstract]
Basis spread on variable rate						1.75%
Floor rate						8.50%
Fixed interest rate	[1]					8%
PIK Interest Rate						3%
Investment, Identifier [Axis]: Real Estate Services, Debt Securities
Investments [Abstract]
Percentage of net assets		1.53%
Investment, Identifier [Axis]: Real Estate Services, Equity Securities
Investments [Abstract]
Percentage of net assets		0.82%
Investment, Identifier [Axis]: Remedy - Maryland Wellness, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 5.00% Spread 7.50% Cash 3.50% PIK Coupon 19.00% Due 8/4/2025
Investments [Abstract]
Basis spread on variable rate						7.50%
Floor rate						5%
Fixed interest rate	[1]					8%
PIK Interest Rate						3.50%
Investment, Identifier [Axis]: STIIIZY, Inc. (f/k/a Shryne Group Inc.) First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 4.00% Spread 8.50% Cash 1.00% PIK Coupon 17.50% Due 5/22/2026
Investments [Abstract]
Basis spread on variable rate						8.50%
Floor rate						4%
Fixed interest rate	[1]					8%
PIK Interest Rate						1%
Investment, Identifier [Axis]: STIIIZY, Inc. Senior Secured First Lien Term Loan Due 5/26/2026 Variable Interest Rate Prime Spread 8.5% Prime Floor 4.0% PIK 1.0%
Investments [Abstract]
Basis spread on variable rate	[2]	8.50%	[8]	8.50%	[9]
Floor rate	[2]	4%		4%
Percentage of net assets		24.06%		24.25%	[6]
PIK Interest Rate	[2]	1%		1%
Investment, Identifier [Axis]: SimSpace Corp. First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.25% Spread 10.00% Coupon 18.50% Due 11/1/2025
Investments [Abstract]
Basis spread on variable rate						10%
Floor rate						8.25%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: State Street Institutional U.S. Government Money Market Fund
Investments [Abstract]
Percentage of net assets		36.48%	[4]	38.12%	[5]
Percentage of annualized seven-day yield		4.94%	[4]	5.32%	[5]
Annualized period of yield		7 days	[4]	7 days	[5]
Investment, Identifier [Axis]: Story of Maryland, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 3.25% Spread 8.75% Cash 2.00% PIK Coupon 18.75% Due 10/4/2024
Investments [Abstract]
Basis spread on variable rate						8.75%
Floor rate						3.25%
Fixed interest rate	[1]					8%
PIK Interest Rate						2%
Investment, Identifier [Axis]: Subsero Holdings - Illinois, Inc. First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.00% Spread 7.00% Cash 2.00% PIK Coupon 17.00% Due 7/29/2026
Investments [Abstract]
Basis spread on variable rate						7%
Floor rate						7%
Fixed interest rate	[1]					8%
PIK Interest Rate						2%
Investment, Identifier [Axis]: Sunny Days Enterprises, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 3.50% Spread 4.75% Cash 8.00% PIK Coupon 20.75% Due 3/31/2025
Investments [Abstract]
Basis spread on variable rate						4.75%
Floor rate						3.50%
Fixed interest rate	[1]					8%
PIK Interest Rate						8%
Investment, Identifier [Axis]: Verano Holdings Corp. First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 6.25% Spread 6.50% Coupon 14.50% Due 10/30/2026
Investments [Abstract]
Basis spread on variable rate						6.50%
Floor rate						6.25%
Fixed interest rate	[1]					8%
Investment, Identifier [Axis]: Verano Holdings Corp. Senior Secured First Lien Term Loan Due 10/30/2026 Variable Interest Rate Prime Spread 6.5% Prime Floor 6.25%
Investments [Abstract]
Basis spread on variable rate	[2]	6.50%	[8]	6.50%	[9]
Floor rate	[2]	6.25%		6.25%
Percentage of net assets		21.72%		24.47%	[6]
Investment, Identifier [Axis]: Wholesale Trade Debt Securities
Investments [Abstract]
Percentage of net assets		65.24%		63.26%
Prime rate		8%	[8]	8.50%	[9]
Investment, Identifier [Axis]: Workbox Holdings, Inc. Senior Secured First Lien Term Loan Due 5/31/2029 Fixed Interest Rate 6.0% PIK 6.0% Invested on 05/20/2024
Investments [Abstract]
Fixed interest rate	[2]	6%
Percentage of net assets		1.53%
PIK Interest Rate	[2]	6%
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-1 Preferred Shares
Investments [Abstract]
Percentage of net assets		0.60%
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-3 Preferred Stock Warrant
Investments [Abstract]
Percentage of net assets		0.09%
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-4 Preferred Stock Warrant
Investments [Abstract]
Percentage of net assets		0.13%
Investment, Identifier [Axis]: Youth Opportunity Investments, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 4.00% Spread 7.75% Coupon 12.59% Due 9/18/2026
Investments [Abstract]
Basis spread on variable rate						7.75%
Floor rate						4%
Fixed interest rate	[3]					4.84%

[1]Reference Rate and Total Coupon for floating rate loans are based on the market Prime Rate of 8.00% as of September 28, 2024.[2]Interest rate is the fixed or variable rate of the debt investments.[3]Reference Rate and Total Coupon for floating rate loans are based on the market SOFR of 4.84% as of September 28, 2024.[4]The annualized seven-day yield as of September 30, 2024 is 4.94%.[5]The annualized seven-day yield as of December 31, 2023 is 5.32%.[6]The Company uses the North American Industry Classification System (“NAICS”) code for classifying the industry grouping of its portfolio companies.[7]Under the Investment Company Act of 1940, as amended (the “1940 Act”), a business development company (“BDC”) may not acquire any “non-qualifying asset” (i.e., an asset other than assets of the type listed in Section 55(a) of the 1940 Act, which are referred to as “qualifying assets”), unless, at the time the acquisition is made, qualifying assets represent at least 70% of the BDC’s total assets. As of September 30, 2024 the aggregate fair value of non-qualifying assets is $22,223 or 24.89% of the Company’s total assets.[8]As of September 30, 2024 PRIME is 8.00%.[9]As of December 31, 2023 PRIME is 8.50%.

ORGANIZATION

ORGANIZATION	9 Months Ended
ORGANIZATION	Sep. 30, 2024
ORGANIZATION [Abstract]
ORGANIZATION	NOTE 1 — ORGANIZATION Chicago Atlantic BDC, Inc. (formerly, Silver Spike Investment Corp.) (an emerging growth company) (the “Company”, “we” or “our”) On February 4, 2022, the Company’s common stock began trading on the Nasdaq Global Market under the ticker symbol “SSIC,” and we completed our initial public offering of 6,214,286 shares of our common stock, par value $0.01, inclusive of an over-allotment option that was exercised on March 1, 2022 (“IPO”), for approximately $87 million. The Company is managed by Chicago Atlantic BDC Advisers, LLC (formerly, Silver Spike Capital, LLC) (“Adviser”), a registered investment advisor under the Investment Advisers Act of 1940 with the Securities and Exchange Commission. The Adviser has engaged SS&C Technologies, Inc. and ALPS Fund Services, Inc. (“SS&C”), as sub-administrator, to perform administrative services necessary for the Company to operate. The Company’s investment objective is to maximize risk-adjusted returns on equity for its shareholders. The Company seeks to drive return on equity by generating current income from debt investments and capital appreciation from equity and equity-related investments. The Company intends to achieve its investment objective by investing primarily in private leveraged lower middle-market and middle-market companies in highly complex and highly regulated industries typically underserved by other capital providers, including investing across the cannabis ecosystem through investments in the form of direct loans to privately held cannabis companies. The Company’s debt investments are often secured by either a first or second priority lien on the assets of the portfolio company, can include either fixed or floating rate terms and will generally have a term of between three On February 20, 2024, the Company announced that the Board of Directors of the Company (the “Board”) unanimously approved an expansion of the Company’s investment strategy to permit investments in companies outside of the cannabis and health and wellness sectors that otherwise meet the Company’s investment criteria. The investment strategy change became effective on April 22, 2024. On October 1, 2024, the Company completed its previously announced acquisition from Chicago Atlantic Loan Portfolio, LLC (“CALP”) of a portfolio of loans (the “Loan Portfolio”) in exchange for newly issued shares of the Company’s common stock (the “Loan Portfolio Acquisition”), pursuant to the Purchase Agreement, dated as of February 18, 2024, between the Company and CALP (the “Loan Portfolio Acquisition Agreement”). In accordance with the terms of the Loan Portfolio Acquisition Agreement, at the effective time of the Loan Portfolio Acquisition, the Company issued 16,605,372 shares of its common stock to CALP in exchange for the Loan Portfolio, which was determined by the Company to have a fair value of $219,621,125 as of September 28, 2024. See “Note 12 – Subsequent Events” for further information regarding the Loan Portfolio Acquisition. On October 1, 2024, the Adviser and Chicago Atlantic BDC Holdings, LLC (together with its affiliates, “Chicago Atlantic”), the investment adviser of CALP, consummated a previously announced transaction pursuant to which a joint venture between Chicago Atlantic and the Adviser has been created to combine and jointly operate the Adviser’s, and a portion of Chicago Atlantic’s, investment management businesses (the “Joint Venture”). As the Joint Venture caused the automatic termination of the prior investment advisory agreement between the Company and the Adviser (the “Prior Investment Advisory Agreement”), a new investment advisory agreement between the Company and the Adviser (the “New Investment Advisory Agreement”), which was approved by the Board, upon the recommendation of its special committee, and the Company’s stockholders, took effect upon the closing of the Joint Venture. The New Investment Advisory Agreement has the same base management and incentive fee as, and otherwise does not materially differ from, the Prior Investment Advisory Agreement. On October 1, 2024, in connection with the New Investment Advisory Agreement, the Company entered into a new license agreement (the “New License Agreement”) with the Adviser pursuant to which the Adviser has agreed to grant the Company a nonexclusive, royalty-free license to use the name “Chicago Atlantic.” Under the New License Agreement, the Company will have a right to use the “Chicago Atlantic” name, for so long as the Adviser or one of its affiliates remains the Company’s investment adviser. Other than with respect to this limited license, the Company will have no legal right to the “Chicago Atlantic” name. The New License Agreement does not materially differ from the prior license agreement between the Company and the Adviser, other than with respect to the licensed name. On October 1, 2024, in connection with the New Investment Advisory Agreement, the Company and the Adviser entered into an expense limitation agreement (the “Expense Limitation Agreement”) pursuant to which the Adviser has agreed to cap the Company’s operating expenses (excluding base management fees, incentive fees, expenses related to the Loan Portfolio Acquisition, and litigation and indemnification expenses) at an annualized rate of 2.15% of the Company’s net assets through September 30, 2025. In connection with the Loan Portfolio Acquisition and the Joint Venture, the Board and the officers of the Company have changed as follows: (i) Frederick C. Herbst (Independent Director), John Mazarakis (Partner at Chicago Atlantic), and Jason Papastavrou (Independent Director) have joined the Board, to serve until the 2025, 2026, and 2027 annual meetings of stockholders, respectively, and until their respective successors are duly elected and qualified; (ii) Andreas Bodmeier (Partner at Chicago Atlantic) has replaced Mr. Gordon as Chief Executive Officer of the Company; (iii) Mr. Gordon has become Executive Chairman of the Board and Co-Chief Investment Officer of the Company; (iv) Umesh Mahajan has become Co-Chief Investment Officer of the Company in addition to remaining Chief Financial Officer and Secretary of the Company; and (v) Dino Colonna (Partner at the Adviser) has become the President of the Company. In addition, in connection with the Loan Portfolio Acquisition and the Joint Venture, the Company has been renamed “Chicago Atlantic BDC, Inc.,” and its ticker symbol has been changed to “LIEN,” and the Adviser has been renamed “Chicago Atlantic BDC Advisers, LLC.” The changes to the Company’s name and ticker symbol became effective in the market at the open of business on October 2, 2024.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), including the requirements under ASC 946, Financial Services—Investment Companies and Articles 6 and 12 of Regulation S-X. In the opinion of management, all adjustments of a normal recurring nature considered necessary for the fair presentation of the financial statements for the interim period presented have been made, and such adjustments are normal and recurring in nature. The current period’s results of operations are not necessarily indicative of results that may be achieved for the year . Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions affecting reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income, expenses, and gains and losses during the reported period Investment Valuation The Company’s investments are recorded at their estimated fair value on the Statement of Assets and Liabilities. Investments for which market quotations are readily available will typically be valued at the bid price of those market quotations. To validate market quotations, we utilize a number of factors to determine if the quotations are representative of fair value, including the source and number of the quotations. Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value as determined in good faith by the Adviser, as the Company’s valuation designee (the “Valuation Designee”), based on inputs that may include valuations, or ranges of valuations, provided by independent third-party valuation firm(s) engaged by the Adviser. Generally, the valuation approach used for debt investments is the income approach. The approach derives a value based on either determining the present value of a projected level of cash flow, including a terminal value, or by the capitalization of a normalized measure of future cash flow. The discounted cash flow (“DCF”) method, one of the methodologies under the income approach, involves estimating future cash flows under various scenarios and discounting them to the measurement date. The discount rate represents a return required by a market participant in order to make an investment in the subject company. Alternatively, the market approach or asset approach may be used. The market approach is a way of determining a value indication by using one or more methods that compare the portfolio company to similar businesses. Value indicators are applied to relevant financial information of the entity being valued to estimate its fair value. There are two methodologies to consider under the market approach: the guideline company method (“GCM”) and the controlling transaction method (“CTM”). The GCM is based on the premise that the pricing multiples of comparable publicly traded companies can be used as a tool to value privately held companies. The publicly traded companies’ ratios and business enterprise value provide guidance in the valuation process. Considerations of factors such as size, growth, profitability and return on investment are also analyzed and compared to the subject business. The CTM is based on the same premise as the GCM. Guideline transactions include change-of-control transactions involving public or private businesses for companies engaged in similar lines of business or with similar economic characteristics. The valuation considers the price at which the merger or acquisition took place to other factors in order to create a pricing multiple that can be used to determine an estimate of value for the subject company. The asset approach provides an indication of the portfolio company’s value by developing a valuation-based balance sheet. This approach requires adjusting the historical assets and liabilities listed on the U.S. GAAP-based balance sheet to estimated fair values. The excess of assets over liabilities represents the tangible value of the business enterprise. The asset approach does not consider the relevant earnings capacity of a going concern business. Pursuant to Rule 2a-5 under the 1940 Act, the Board designated the Adviser as the Valuation Designee to perform the fair value determinations for the Company, subject to the oversight of the Board and certain Board reporting and other requirements. As part of the valuation process, the Adviser takes into account relevant factors in determining the fair value of our investments, including: the estimated enterprise value of a portfolio company (i.e., the total fair value of the portfolio company’s debt and equity), the nature and realizable value of any collateral, the portfolio company’s ability to make payments based on its earnings and cash flow, the markets in which the portfolio company does business, a comparison of the portfolio company’s securities to any similar publicly traded securities, and overall changes in the interest rate environment and the credit markets. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, the Adviser considers whether the pricing indicated by the external event corroborates its valuation. The Adviser undertakes a multi-step valuation process, which includes, among other procedures, the following: • With respect to investments for which market quotations are readily available, those investments will typically be valued at the bid price of those market quotations; • With respect to investments for which market quotations are not readily available, the valuation process begins with the Adviser’s valuation committee establishing a preliminary valuation of each investment, which may be based on valuations, or ranges of valuations, provided by independent valuation firm(s); • Preliminary valuations are documented and discussed by the Adviser’s valuation committee and, where appropriate, the independent valuation firm(s); and • The Adviser determines the fair value of each investment. We conduct this valuation process on a quarterly basis. We apply Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurement • Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; • Level 2 – Valuations based on quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities • Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If we were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected previously. Equity Securities and Warrants The Company may be issued warrants by issuers as yield enhancements. These warrants are recorded as assets at estimated fair value on the grant date. The Company determines the cost basis of the warrants or other equity securities received based upon their respective fair values on the date of receipt in proportion to the total fair value of the debt and warrants or other equity securities received. Depending on the facts and circumstances, the Company generally utilizes a combination of one or several forms of the market approach and contingent claim analyses (a form of option analysis) to estimate the fair value of the securities as of the measurement date and determines the cost basis using a relative fair value methodology. As part of its application of the market approach, the Company estimates the enterprise value of a portfolio company utilizing customary pricing multiples, based on the development stage of the underlying issuers, or other appropriate valuation methods, such as considering recent transactions in the equity securities of the portfolio company or third-party valuations that are assessed to be indicative of fair value of the respective portfolio company. If appropriate, based on the facts and circumstances, the Company performs an allocation of the enterprise value to the equity securities utilizing a contingent claim analysis and/or other waterfall calculation by which it allocates the enterprise value across the portfolio company’s warrants and other equity securities in order of their preference relative to one another. Cash and Cash Equivalents Cash and cash equivalents consists of funds deposited with financial institutions and short-term (maturity of 90 days or less) liquid investments and money market funds. Funds held in money market funds are considered Level 1 in the fair value hierarchy in accordance with ASC 820. Cash held in demand deposit accounts may exceed the Federal Deposit Insurance Corporation (“FDIC”) insured limit. The Company has not incurred any losses on these accounts, and the credit risk exposure is mitigated by the financial strength of the banking institution where the accounts are held. As of September Earnings per share Basic earnings per share is computed by dividing net increase (decrease) in net assets resulting from operations Investment Transactions Investment transactions are recorded on trade date. Realized gains or losses are recognized as the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments written off during the period, net of recoveries. Current-period changes in fair value of investments are reflected as a component of the net change in unrealized appreciation (depreciation) on investments on the Statements of Operations. The net change in unrealized appreciation (depreciation) primarily reflects the change in investment fair values as of the last business day of the reporting period, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period. Investments traded but not yet settled, if any, are reported in payable for investments purchased and receivable for investments sold on the Statement of Assets and Liabilities. Interest and Dividend Income Interest income is recorded on the accrual basis and includes accretion and amortization of discounts or premiums, respectively. Discounts and premiums to par value on securities purchased are accreted and amortized, respectively, into interest income over the contractual life of the respective security using the effective yield method. The amortized cost of investments includes the original cost adjusted for the accretion and amortization of discounts and premiums, respectively. Upon prepayment of a loan or debt security, any prepayment premiums and unamortized discounts or premiums are recorded as interest income in the current period. When a debt security becomes 90 days or more past due, or if management o therwise does not expect that principal, interest, and other obligations due will be collected in full, the Company will generally place the debt security on non-accrual status and cease recognizing interest income on that debt security until all principal and interest due has been paid or the Company believes the borrower has demonstrated the ability to repay its current and future contractual obligations. Any uncollected interest is reversed from income in the period that collection of the interest receivable is determined to be doubtful. However, the Company may make exceptions to this policy if the investment has sufficient collateral value and is in the process of collection. As of September Interest income earned, excluding accretion of discounts and amortization of premiums, was $2,534,647 and $7,702,298 for the three and nine months ended September September September As of September Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. Certain investments may have contractual PIK interest or dividends. PIK interest or dividends represents accrued interest or dividends that is added to the principal amount of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity. If PIK interest or dividends are not expected to be realized by the Company, the investment generating PIK interest or dividends will be placed on non-accrual status. When an investment with PIK is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income, respectively. Fee Income All transaction fees earned in connection with our investments are recognized as fee income and are generally non-recurring. Such fees typically include fees for services, including administrative, structuring (including with respect to amendments) and advisory services, provided to portfolio companies. We recognize income from fees for providing such structuring and advisory services when the services are rendered or the transactions are completed, and payment is received (generally immediately). For the three and nine months ended September September Income Taxes The Company adopted an initial tax year end of December 31, 2021 and was taxed as a corporation for U.S. federal income tax purposes for the tax period ended December 31, 2021. The Company adopted the tax year end of March 31, 2022 and elected to be treated for U.S. federal income tax purposes as a RIC under Subchapter M of the Code for the tax period January 1, 2022 through March 31, 2022, and intends to maintain such election in the current and future taxable years. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its stockholders for each taxable year at least 90% of its investment company taxable income. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion (subject to the requirement to distribute 90% of its investment company taxable income as described above), may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to stockholders. For the three and nine months ended September recorded September September T he Company evaluates tax positions taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority in accordance with ASC Topic 740, Income Taxes (“ASC 740”). Tax benefits of positions not deemed to meet the more-likely-than-not threshold, or uncertain tax positions, would be recorded as tax expense in the current year. It is the Company’s policy to recognize accrued interest and penalties related to uncertain tax benefits in income tax expense. Based on the analysis of the Company’s tax position, the Company has no uncertain tax positions that met the recognition or measurement criteria as of September Distributions Offering Costs These costs consist primarily of legal fees and other costs incurred in connection with the Company’s share offerings, the preparation of the Company’s registration statement, and registration fees. Costs associated with the offering of common shares of the Company are capitalized as deferred offering and, if any, are included in deferred offering costs on the Statements of Assets and Liabilities. As of September September September Transaction expenses related to the Loan Portfolio Acquisition Cumulative transaction expenses related to the Loan Portfolio Acquisition at September For the three and nine months ended September September September Deferred Financing Costs Deferred financing costs consist of origination expenses incurred in connection with the anticipated closing of a credit facility, and may include legal, accounting, and other related expenses. These costs are deferred and will be amortized using the straight-line method over the term of the applicable credit facility. New Accounting Standards In November 2023, the FASB issued Accounting Standard Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendment is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We do not believe that the Company will be materially impacted by the adoption of ASU 2023-07. In December 2023, the FASB issued Accounting Standard Update (“ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”),” which improves the transparency of income tax disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. We are currently evaluating the impact this ASU will have on our financial position and disclosures, but we do not believe that the Company will be materially impacted by the adoption of ASU 2023-09.

INVESTMENTS

INVESTMENTS	9 Months Ended
INVESTMENTS	Sep. 30, 2024
INVESTMENTS [Abstract]
INVESTMENTS	NOTE 3 — INVESTMENTS The Company’s investments in portfolio companies are primarily in the form of debt investments (secured and unsecured), but may include equity warrants, direct equity investments and derivative investments. Debt Investments The Company’s debt investments typically pay interest with some amortization of principal. As of September 30, 2024, 76.5% of the debt investments (based on amortized cost) pay interest on a floating rate basis with a PRIME floor, and 23.5% of the debt investments (based on amortized cost) pay fixed interest. As of December 31, 2023, 84.9% of the debt investments (based on amortized cost) pay interest on a floating rate basis with a PRIME floor, and 15.1% of the debt investments (based on amortized cost) pay fixed interest. We will generally seek to obtain security interests in the assets of our portfolio companies that serve as collateral in support of the repayment of these debt investments. This collateral may take the form of first or second priority liens on the assets of a portfolio company. We expect that our debt investments will typically have final maturities of three Warrant Investments In connection with the Company’s debt investments, the Company may receive warrants in the portfolio company. Warrants received in connection with a debt investment typically include a potentially discounted contract price to exercise, and thus, as a portfolio company appreciates in value, the Company may achieve additional investment return from this equity interest. The warrants typically contain provisions that protect the Company as a minority-interest holder, as well as secured or unsecured put rights, or rights to sell such securities back to the portfolio company, upon the occurrence of specified events. In certain cases, the Company may also obtain follow-up rights in connection with these equity interests, which allow the Company to participate in future financing rounds. Equity Investments In specific circumstances, the Company may seek to make direct equity investments in situations where it is appropriate to align the interests of the Company with key management and stockholders of the portfolio company, and to allow for participation in the appreciation in the equity values of the portfolio company. These equity investments are generally made in connection with debt investments. Derivative Investments A portion of our portfolio may be comprised of derivatives, including total return swaps. No such derivative instruments were held as of September 30, 2024 or December 31, 2023. Portfolio Composition The Company’s portfolio investments are primarily in companies conducting business in or supporting the cannabis industries. The following tables summarize the composition of the Company’s portfolio investments by industry at amortized cost and fair value and as a percentage of the total portfolio as of September 30, 2024 and December 31, 2023. September 30, 2024 Amortized Cost Fair Value Industry Amount % Amount % Wholesale Trade $ 53,091,077 96.6 % $ 53,852,511 96.5 % Real Estate Services 1,861,427 3.4 1,936,000 3.5 Total $ 54,952,504 100.0 % $ 55,788,511 100.0 % December 31, 2023 Amortized Cost Fair Value Industry Amount % Amount % Wholesale Trade $ 53,471,317 100.0 % $ 54,120,000 100.0 % Total $ 53,471,317 100.0 % $ 54,120,000 100.0 % The geographic composition is determined by the location of headquarters of the portfolio company. The following tables summarize the composition of the Company’s portfolio investments by geographic region of the United States at amortized cost and fair value and as a percentage of the total portfolio as of September 30, 2024 and December 31, 2023. Geographic regions are defined as: West, for the states of WA, OR, ID, MT, WY, CO, AK, HI, UT, NV and CA; Midwest, for the states ND, SD, NE, KS, MO, IA, MN, WI, MI, IL, IN and OH; Northeast, for the states PA, NJ, NY, CT, RI, MA, VT, NH and ME; Southeast, for the states of AR, LA, MS, TN, KY, AL, FL, GA, SC, NC, VA, DE, WV and MD; and Southwest, for the states of AZ, NM, TX and OK. September 30, 2024 Amortized Cost Fair Value Geographic Location Amount % Amount % West $ 24,054,977 43.8 % $ 24,185,000 43.3 % Midwest 23,473,866 42.7 23,984,000 43.0 Northeast 7,423,661 13.5 7,619,511 13.7 Total $ 54,952,504 100.0 % $ 55,788,511 100.0 % December 31, 2023 Amortized Cost Fair Value Geographic Location Amount % Amount % West $ 24,910,798 46.5 % $ 25,069,000 46.4 % Midwest 24,571,197 46.0 24,911,000 46.0 Northeast 3,989,322 7.5 4,140,000 7.6 Total $ 53,471,317 100.0 % $ 54,120,000 100.0 % The following tables summarize the composition of the Company’s portfolio investments by investment type at amortized cost and fair value and as a percentage of the total portfolio as of September 30, 2024 and December 31, 2023. September 30, 2024 Amortized Cost Fair Value Investment Amount % Amount % Senior Secured First Lien Term Loans $ 42,609,491 77.5 % $ 43,370,000 77.7 % Senior Secured Notes 11,600,187 21.1 11,742,511 21.1 Equity 742,826 1.4 676,000 1.2 Total $ 54,952,504 100.0 % $ 55,788,511 100.0 % December 31, 2023 Amortized Cost Fair Value Investment Amount % Amount % Senior Secured First Lien Term Loans $ 45,372,626 84.9 % $ 46,006,000 85.0 % Senior Secured Notes 8,098,691 15.1 8,114,000 15.0 Total $ 53,471,317 100.0 % $ 54,120,000 100.0 % Certain Risk Factors In the ordinary course of business, the Company manages a variety of risks including market risk, concentration risk, credit risk, liquidity risk, interest rate risk, prepayment risk, risks associated with financial, economic and other global market developments and disruptions, including those arising from war, terrorism, market manipulation, government interventions, defaults and shutdowns, political changes or diplomatic developments, public health emergencies (such as the spread of infectious diseases, pandemics and epidemics) and natural/environmental disasters, which can all negatively impact the securities markets generally. These events can also impair the technology and other operational systems upon which the Company’s service providers rely and could otherwise disrupt the Company’s service providers’ ability to fulfill their obligations to the Company. The Company identifies, measures and monitors risk through various control mechanisms, including trading limits and diversifying exposures and activities across a variety of instruments, markets and counterparties. Market risk is the risk of potential adverse changes to the value of financial instruments because of changes in market conditions, including as a result of changes in the credit quality of a particular issuer, credit spreads, interest rates, and other movements and volatility in security prices or commodities. In particular, the Company may invest in issuers that are experiencing or have experienced financial or business difficulties (including difficulties resulting from the initiation or prospect of significant litigation or bankruptcy proceedings), which involves significant risks. The Company manages its exposure to market risk through the use of risk management strategies and various analytical monitoring techniques. Concentration risk is the risk that the Company’s focus on investments in cannabis companies may subject the Company to greater price volatility and risk of loss as a result of adverse economic, business or other developments affecting cannabis companies than funds investing in a broader range of industries or sectors. At times, the performance of investments in cannabis companies will lag the performance of other industries or sectors or the broader market as a whole. Investing in portfolio companies involved in the cannabis industry subjects us to the following risks: • The cannabis industry is extremely speculative and raises a host of legality issues, making it subject to inherent risk; • The manufacture, distribution, sale, or possession of cannabis that is not in compliance with the U.S. Controlled Substances Act is illegal under U.S. federal law. Strict enforcement of U.S. federal laws regarding cannabis would likely result in our portfolio companies’ inability to execute a business plan in the cannabis industry, and could result in the loss of all or part of any of our loans; • The Biden Administration’s or specifically the U.S. Department of Justice’s change in policies or enforcement with respect to U.S. federal cannabis laws could negatively impact our portfolio companies’ ability to pursue their prospective business operations and/or generate revenues; • U.S. federal courts may refuse to recognize the enforceability of contracts pertaining to any business operations that are deemed illegal under U.S. federal law, including cannabis companies operating legally under state law; • Consumer complaints and negative publicity regarding cannabis-related products and services could lead to political pressure on states to implement new laws and regulations that are adverse to the cannabis industry, to not modify existing, restrictive laws and regulations, or to reverse current favorable laws and regulations relating to cannabis; • Assets collateralizing loans to cannabis businesses may be forfeited to the U.S. federal government in connection with government enforcement actions under U.S. federal law; • U.S. Food and Drug Administration regulation of cannabis and the possible registration of facilities where cannabis is grown could negatively affect the cannabis industry, which could directly affect our financial condition and the financial condition of our portfolio companies; • Due to our proposed strategy of investing in portfolio companies engaged in the regulated cannabis industry, our portfolio companies may have a difficult time obtaining the various insurance policies that are needed to operate such businesses, which may expose us and our portfolio companies to additional risks and financial liabilities; • The cannabis industry may face significant opposition from other industries that perceive cannabis products and services as competitive with their own, including but not limited to the pharmaceutical industry, adult beverage industry and tobacco industry, all of which have powerful lobbying and financial resources; • Many national and regional banks have been resistant to doing business with cannabis companies because of the uncertainties presented by federal law and, as a result, we or our portfolio companies may have difficulty borrowing from or otherwise accessing the service of banks, which may inhibit our ability to open bank accounts or otherwise utilize traditional banking services; • Due to our proposed strategy of investing in portfolio companies engaged in the regulated cannabis industry, we or our portfolio companies may have a difficult time obtaining financing in connection with our investment strategy; and • Laws and regulations affecting the regulated cannabis industry are varied, broad in scope and subject to evolving interpretations, and may restrict the use of the properties our portfolio companies acquire or require certain additional regulatory approvals, which could materially adversely affect our investments in such portfolio companies. Any of the foregoing could have an adverse impact on our and our portfolio companies’ businesses, financial condition and results of operations. Credit risk is the risk that a decline in the credit quality of an investment could cause the Company to lose money. The Company could lose money if the issuer or guarantor of a portfolio security fails to make timely payment or otherwise honor its obligations. Fixed income securities rated below investment grade (high-yield bonds) involve greater risks of default or downgrade and are generally more volatile than investment grade securities. Below investment grade securities involve greater risk of price declines than investment grade securities due to actual or perceived changes in an issuer’s creditworthiness. In addition, issuers of below investment grade securities may be more susceptible than other issuers to economic downturns. Such securities are subject to the risk that the issuer may not be able to pay interest or dividends and ultimately to repay principal upon maturity. Discontinuation of these payments could substantially adversely affect the market value of the security. The Company’s investments may, at any time, include securities and other financial instruments or obligations that are illiquid or thinly traded, making purchase or sale of such securities and financial instruments at desired prices or in desired quantities difficult. Furthermore, the sale of any such investments may be possible only at substantial discounts, and it may be extremely difficult to value any such investments accurately. Interest rate risk refers to the change in earnings that may result from changes in the level of interest rates. To the extent that the Company borrows money to make investments, including under any credit facility, net investment income (loss) will be affected by the difference between the rate at which the Company borrows funds and the rate at which the Company invests these funds. In periods of rising interest rates, the Company’s cost of borrowing funds would increase, which may reduce net investment income (loss). As a result, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on net investment income (loss). Prepayment risk is the risk that a loan in the Company’s portfolio will prepay due to the existence of favorable financing market conditions that allow the portfolio company the ability to replace existing financing with less expensive capital. As market conditions change, prepayment may be possible for each portfolio company. In some cases, the prepayment of a loan may reduce the Company’s achievable yield if the capital returned cannot be invested in transactions with equal or greater expected yields, which could have a material adverse effect on our business, financial condition and results of operations.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2024
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 4 — FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy based on the quality of inputs used to measure fair value and enhances disclosure requirements for fair value measurements. The Company accounts for its investments at fair value. As of September 30, 2024 and December 31, 2023, the Company’s portfolio investments consisted primarily of investments in secured loans and secured notes. The fair value amounts have been measured as of the reporting date and have not been reevaluated or updated for purposes of these financial statements subsequent to that date. As such, the fair values of these financial instruments subsequent to the reporting date may be different than amounts reported. The fair value determination of each portfolio investment categorized as Level 3 required one or more unobservable inputs. The use of significant unobservable inputs creates uncertainty in the measurement of fair value as of the reporting date. The significant unobservable inputs used in the fair value measurement of the Company’s debt investments may vary and may include debt investments’ yield (i.e. discount rate) and volatility assumptions. The significant unobservable inputs used in the fair value measurement of the Company’s equity and warrant investments may vary and may include EBITDA multiples, revenue multiples and asset multiples. The Company’s investments measured at fair value by investment type on a recurring basis as of September 30, 2024 and December 31, 2023 were as follows: Fair Value Measurements at September 30, 2024 Using Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Senior Secured First Lien Term Loans $ - $ - $ 43,370,000 $ 43,370,000 Senior Secured Notes - - 11,742,511 11,742,511 Equity - - 676,000 676,000 Total $ - $ - $ 55,788,511 $ 55,788,511 Fair Value Measurements at December 31, 2023 Using Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Senior Secured First Lien Term Loans $ - $ - $ 46,006,000 $ 46,006,000 Senior Secured Notes - - 8,114,000 8,114,000 Total $ - $ - $ 54,120,000 $ 54,120,000 The following tables provide a summary of the significant unobservable inputs used to fair value the Level 3 portfolio investments as of September 30, 2024 and December 31, 2023. The methodology for the determination of the fair value of the Company’s investments is discussed in “Note 2 – Significant Accounting Policies”. Discount rate ranges are shown as spread over PRIME and Treasuries, respectively, for Senior Secured First Lien Term Loans, as of September 30, 2024 and December 31, 2023. Investment Type Fair Value as of Valuation Techniques/ Methodologies Unobservable Input Range Weighted Average (1) Senior Secured First Lien Term Loans $ 43,370,000 Discounted Cash Flow Discount Rate 9.9% - 13.5 % 11.9 % Senior Secured Notes 11,742,511 Discounted Cash Flow Discount Rate 7.1% - 12.9 % 10.2 % Preferred Equity Securities 500,000 Enterprise Value Market Approach Enterprise Valuation Multiple 2.25 x 2.25 x Warrants and Other Equity Securities 176,000 Option Pricing Model Volatility Factor 47.0 % 47.0 % Total $ 55,788,511 Investment Type Fair Value as of December 31, 2023 Valuation Techniques/ Methodologies Unobservable Input Range Weighted Average (1) Senior Secured First Lien Term Loans $ 46,006,000 Discounted Cash Flow Discount Rate 10.1% - 13.5 % 12.2 % Senior Secured Notes 8,114,000 Discounted Cash Flow Discount Rate 7.4% - 13.7 % 10.5 % Total $ 54,120,000 (1) The weighted average is calculated based on the fair value of each investment. Significant increases (decreases) in discount rate in isolation would result in a significantly lower (higher) fair value assessment. Significant increases (decreases) in volatility in isolation would result in a significantly lower (higher) fair value assessment. The following tables provide a summary of changes in the fair value of the Company’s Level 3 portfolio investments for the nine months ended September 30, 2024 and 2023: Senior Secured Senior Equity Total Fair Value as of December 31, 2023 $ 46,006,000 $ 8,114,000 $ - $ 54,120,000 Purchases 1,082,174 3,316,250 742,826 5,141,250 Accretion of discount and fees (amortization of premium), net 316,057 185,246 - 501,303 PIK interest 182,634 - - 182,634 Proceeds from sales of investments and principal repayments (4,344,000 ) - - (4,344,000 ) Net realized gain (loss) on investments - - - - Net change in unrealized appreciation (depreciation) from investments 127,135 127,015 (66,826 ) 187,324 Balance as of September 30 2024 $ 43,370,000 $ 11,742,511 $ 676,000 $ 55,788,511 Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30 $ 127,135 $ 127,015 $ (66,826 ) $ 187,324 Senior Secured Senior Total Fair Value as of December 31, 2022 $ 40,660,633 $ 9,593,917 $ 50,254,550 Purchases 8,442,000 - 8,442,000 Accretion of discount and fees (amortization of premium), net 233,119 197,933 431,052 PIK interest 78,153 - 78,153 Proceeds from sales of investments and principal repayments (180,000 ) (1,600,000 ) (1,780,000 ) Net realized gain (loss) on investments - (210,767 ) (210,767 ) Net change in unrealized appreciation (depreciation) on investments 263,095 (97,083 ) 166,012 Balance as of September 30, 2023 $ 49,497,000 $ 7,884,000 $ 57,381,000 Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30 2023 $ 263,095 $ (97,083 ) $ 166,012

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2024
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 — RELATED PARTY TRANSACTIONS Pursuant to the investment advisory agreement between the Company and the Adviser (the “Investment Advisory Agreement”), fees payable to the Adviser are equal to (a) a base management fee of 1.75% of the average value of the Company’s gross assets at the end of the two most recent quarters (i.e., total assets held before deduction of any liabilities), which includes investments acquired with the use of leverage and excludes cash and cash equivalents and (b) an incentive fee based on the Company’s performance. The incentive fee consists of two parts. The first part is calculated and payable quarterly in arrears and equals 20% of the Company’s “Pre-Incentive Fee Net Investment Income” for the quarter, subject to a preferred return, or “hurdle,” of 1.75% per quarter (7% annualized), and a “catch-up” feature. The second part is determined and payable in arrears as of the end of each fiscal year (or upon termination of the Investment Advisory Agreement) and equals 20% of the Company’s realized capital gains on a cumulative basis from inception through the end of the fiscal year, if any, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid capital gain incentive fee (the “Incentive Fee on Capital Gains”). While the Investment Advisory Agreement neither includes nor contemplates the inclusion of unrealized gains in the calculation of the Incentive Fee on Capital Gains, as required by U.S. GAAP, we accrue the Incentive Fee on Capital Gains on unrealized capital appreciation exceeding unrealized depreciation. This accrual reflects the Incentive Fee on Capital Gains that would be payable to the Adviser if the Company’s entire investment portfolio was liquidated at its fair value as of the balance sheet date even though the Adviser is not entitled to an Incentive Fee on Capital Gains with respect to unrealized capital appreciation unless and until such gains are actually realized. The management fee is payable quarterly in arrears. For the three and nine months ended September 30, 2024, the Company incurred management fee expenses of $253,421 and $745,876, respectively. For the three and nine months ended September 30, 2023, the Company incurred management fee expenses of $264,565 and $760,473, respectively. As of September 30, 2024 and December 31, 2023, $253,421 and $257,121, respectively, remained payable. For the three and nine months ended September 30, 2024, the Company incurred income-based incentive fee expenses of $0 and $328,503, respectively. For the three and nine months ended September 30, 2023, the Company incurred income-based incentive fee expenses of $405,247 and $1,051,741, respectively. As of September 30, 2024 and December 31, 2023, $0 and $1,511,253, respectively, remained payable. For the three and nine months ended September 30, 2024, the Company incurred capital gains incentive fee expenses of $(35,904) and $37,465, respectively. For the three and nine months ended September 30, 2023, the Company incurred capital gains incentive fee expense s of $(5,000) and $0, respectively Pursuant to the administration agreement between the Company and the Adviser (the “Administration Agreement”), the Company is to reimburse the Adviser for the costs and expenses incurred by the Adviser in performing its obligations, including but not limited to maintaining and keeping all books and records and providing personnel and facilities. This includes costs and expenses incurred by the Adviser in connection with the delegation of its obligations to SS&C, the sub-administrator. The Company is generally not responsible for the compensation of the Adviser’s employees or any overhead expenses. However, we may reimburse the Adviser for an allocable portion of the compensation paid by the Adviser to our CCO and CFO and their respective staffs (based on a percentage of time such individuals devote, on an estimated basis, to our business affairs). For the three and nine months ended September 30, 2024 and 2023, the Adviser has waived any expense reimbursement, other than those associated with the delegation of its obligations to the sub-administrator and the use of temporary accounting services. For the three and nine months ended September 30, 2024, the Company paid $499 and $499, respectively, for expenses paid on the Company’s behalf. For the three and nine months ended September 30, 2023, the Company paid $4,993 and $6,192, respectively, as reimbursement to the Adviser for expenses paid on the Company’s behalf. Due to affiliate in the accompanying Statements of Assets and Liabilities in the amount of $51,142 and $0 as of September 30, 2024 and December 31, 2023, respectively, is due to the Adviser for expenses paid on the Company’s behalf. The Adviser was the seed investor of the Company and provided initial funding to the Company by purchasing approximately 4.5 million shares of the Company’s common stock in the Company’s initial public offering. The Adviser provided this “seed capital” to the Company for the purpose of facilitating the launch and initial operation of the Company, as opposed to for long term investment purposes. In addition, CALP purchased approximately 16.6 million shares of the Company’s common stock in connection with the Loan Portfolio Acquisition with the intention of distributing such shares of the Company’s common stock to CALP’s members within six months of the Loan Portfolio Acquisition. The Adviser and CALP do not expect to hold the Company’s common stock indefinitely, and may sell the Company’s common stock, or distribute the Company’s common stock to their members (who may, in turn, sell the Company’s common stock subject to certain holding period requirements), at a future point in time. In order for the Adviser’s or CALP’s sales of the shares of the Company not to be deemed to have been made “on the basis of” material nonpublic information, such sales may be made pursuant to a pre-approved trading plan that complies with Rule 10b5-1 under the Exchange Act and that may obligate the Adviser or CALP to make recurring sales of the Company’s common stock on a periodic basis. Sales of substantial amounts of the Company’s common stock, including by the Adviser, CALP, their members or other large stockholders, or the availability of such common stock for sale, could adversely affect the prevailing market prices for the Company’s common stock. If this occurs and continues for a sustained period of time, it could impair the Company’s ability to raise additional capital through the sale of securities, should the Company desire to do so. As of November 5, 2024, the Adviser and CALP collectively hold approximately 83% of the Company’s voting stock and have the ability to exercise substantial control over all corporate actions requiring stockholder approval, including the election and removal of directors, certain amendments of the Company’s charter, the Company’s ability to issue its common stock at a price below NAV per share, and the approval of any merger or other extraordinary corporate action. The Adviser absorbed $1.23 million, representing the cost of the sales load (i.e., underwriting discounts and commissions) incurred by the Company in connection with the initial public offering of its common stock. The Company will not incur any additional expenses with this transaction. During the three and nine months ended September 30, 2024, the Adviser and certain related parties received dividend distributions from the Company relating to their shares held. During the three and nine months ended September 30, 2023, the Adviser

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 — COMMITMENTS AND CONTINGENCIES Unfunded Commitments The Company’s commitments and contingencies include unfunded commitments to extend credit in the form of loans to the Company’s portfolio companies. A portion of these unfunded contractual commitments are generally dependent upon the portfolio company reaching certain milestones before the debt commitment becomes available. Furthermore, the Company’s credit agreements with its portfolio companies generally contain customary lending provisions that allow the Company relief from funding obligations for previously made commitments in instances where the underlying portfolio company experiences materially adverse events that affect the financial condition or business outlook of the company. Since a portion of these commitments may expire without being drawn, unfunded contractual commitments do not necessarily represent future cash requirements. As such, the Company’s disclosure of unfunded contractual commitments as of September 30, 2024 includes only those commitments that are available at the request of the portfolio company and are unencumbered by milestones or additional lending provisions. As of September 30, 2024, the Company had outstanding commitments to fund investments totaling $1.5 million. The Company has identified no unfunded commitments as of December 31, 2023. The Company did not have any other off-balance sheet financings or liabilities as of September 30, 2024 or December 31, 2023. The Company will fund its unfunded commitments, if any, from the same sources it uses to fund its investment commitments that are funded at the time they are made (which are typically through existing cash and cash equivalents) and maintains adequate liquidity to fund its unfunded commitments through these sources. 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. Legal Proceedings The Company may, from time to time, be involved in litigation arising out of its operations in the normal course of business or otherwise. Furthermore, third parties may try to seek to impose liability on the Company in connection with the activities of its portfolio companies. As of September 30, 2024, there are no material legal matters or material litigation pending of which the Company is aware.

COMMON STOCK

COMMON STOCK	9 Months Ended
COMMON STOCK	Sep. 30, 2024
COMMON STOCK [Abstract]
COMMON STOCK	NOTE 7 — COMMON STOCK As of September 30, 2024, 100,000,000 shares of $0.01 par value common stock were authorized. Distributions The following table summarizes distributions declared and paid by the Company during the nine months ended September 30, 2024: Declaration Date Type Record Date Payment Date Per Share Dividends Paid March 8, 2024 Quarterly March 20, 2024 March 28, 2024 $ 0.25 $ 1,553,736 May 9, 2024 Quarterly June 20, 2024 June 28, 2024 $ 0.25 $ 1,553,738 August 8, 2024 Quarterly September 19, 2024 September 27, 2024 $ 0.25 $ 1,553,741 The following table summarizes distributions declared and paid by the Company during the nine months ended September 30, 2023: Declaration Date Type Record Date Payment Date Per Share Dividends Paid August 10, 2023 Quarterly September 15, 2023 September 29, 2023 $ 0.23 $ 1,429,374 August 10, 2023 Special September 15, 2023 September 29, 2023 $ 0.40 $ 2,485,869 Dividend Reinvestment Plan The Company’s dividend reinvestment plan (“DRIP”) provides for the reinvestment of distributions in the form of common stock on behalf of its stockholders, unless a stockholder has elected to receive distributions in cash. As a result, if the Company declares a cash distribution, its stockholders who have not “opted out” of the DRIP by the opt out date will have their cash distribution automatically reinvested into additional shares of the Company’s common stock. The share requirements of the DRIP may be satisfied through the issuance of common shares or through open market purchases of common shares by the DRIP plan administrator. The Company’s DRIP is administered by its transfer agent on behalf of the Company’s record holders and participating brokerage firms. Brokerage firms and other financial intermediaries may decide not to participate in the Company’s DRIP but may provide a similar dividend reinvestment plan for their clients. During the nine months ended September 30, 2024, the Company issued the following shares of common stock under the DRIP: Declaration Date Type Record Date Payment Date Shares March 8, 2024 Quarterly March 20, 2024 March 28, 2024 8 May 9, 2024 Quarterly June 20, 2024 June 28, 2024 15 August 8, 2024 Quarterly September 19, 2024 September 27, 2024 31 During , the Company issued the following shares of common stock under the DRIP: Declaration Date Type Record Date Payment Date Shares August 10, 2023 Quarterly September 15, 2023 September 29, 2023 12 August 10, 2023 Special September 15, 2023 September 29, 2023 21

INDEMNIFICATION

INDEMNIFICATION	9 Months Ended
INDEMNIFICATION	Sep. 30, 2024
INDEMNIFICATION [Abstract]
INDEMNIFICATION	NOTE 8 — INDEMNIFICATION Under the Company’s organizational documents, the Company’s officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Company. In addition, in the normal course of business the Company enters into contracts that contain a variety of representations which provide general indemnifications. The Company’s maximum exposure under these agreements cannot be known; however, the Company expects any risk of loss to be remote.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2024
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 9 — EARNINGS PER SHARE The following table sets forth the computation of the weighted average basic and diluted net increase (decrease) in net assets per share from operations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Net increase (decrease) in net assets resulting from operations $ (165,012 ) $ 1,273,882 $ 1,647,660 $ 4,842,366 Weighted Average Shares Outstanding — 6,214,965 6,214,673 6,214,952 6,214,672 Net increase (decrease) in net assets resulting from operations per share — basic and diluted $ (0.03 ) $ 0.20 $ 0.27 $ 0.78

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 10 — INCOME TAXES The Company adopted a tax year end of March 31 and elected to be treated as a regulated investment company (“RIC”) for U.S. federal income tax purposes under Subchapter M of the Code. However, there is no guarantee that the Company will qualify to make such an election for any taxable year. As a RIC, the Company generally will not pay corporate-level income tax if it distributes to stockholders at least 90% of its investment company taxable income (“ICTI”) (which is generally its net ordinary taxable income and realized net short-term capital gains in excess of realized net long-term capital losses) and 90% of its tax-exempt income to maintain its RIC status. Depending on the level of ICTI earned in a tax year, the Company may choose to carry forward ICTI in excess of the current year distribution into the next tax year. Any such carryover ICTI must be distributed before the end of that next tax year through a dividend declared prior to filing the final tax return related to the year which generated such ICTI. The amount to be paid out as a distribution is determined by the Board each quarter and is based upon the annual earnings estimated by the management of the Company. To the extent the Company’s earnings fall below the amount of dividend distributions declared, however, a portion of the total amount of the Company’s distributions for the tax year may be deemed a return of capital for tax purposes to the Company’s stockholders. The amounts and sources of distributions reported are only estimates and are not being provided for U.S. federal income tax reporting purposes. The timing and character of distributions for U.S. federal income tax purposes will be determined in accordance with the U.S. federal tax rules which may differ from GAAP. The final determination of the source of all distributions in 2024 will be made after the tax year-end and the amounts represented may be materially different from the amounts disclosed in the final Form 1099-DIV notice. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Company’s investment performance and may be subject to change based on tax regulations. Because federal income tax regulations differ from GAAP, distributions in accordance with tax regulations may differ from net investment income and realized gains recognized for financial reporting purposes. Differences may be permanent or temporary in nature. Permanent differences are reclassified among the capital accounts in the financial statements to reflect their appropriate tax character. Temporary differences arise when certain items of income, expense, gain or loss are recognized in different periods for book and tax purposes. For tax purposes, net realized capital losses may be carried over to offset future capital gains, if any. Funds are permitted to carry forward capital losses for an indefinite period, and such losses will retain their character as either short-term or long-term capital losses. As of March 31, 2024, the Company’s most recent tax year end, the Company had $210,767 of capital loss carryforwards, all of which is short-term. The Company’s taxable income for each period is an estimate and will not be finally determined until the Company files its tax return for each year. Therefore, the final taxable income earned in each year and carried forward for distribution in the following year may be different than this estimate. For the most recent tax year ended March 31, 2024, the Company reclassified $10,676 from distributable earnings to additional paid-in-capital on the Statement of Assets and Liabilities arising from permanent book to tax differences primarily related to non-deductible expenses. For the tax year ended March 31, 2023, the Company reclassified $121,099 from distributable earnings to additional paid-in-capital on the Statement of Assets and Liabilities arising from permanent book to tax differences primarily related to prior year post-financial statement updates and non-deductible excise tax. For income tax purposes, distributions paid to shareholders are reported as ordinary income, return of capital, long-term capital gains, or a combination thereof. The tax character of distributions paid for the six months ended September 30, 2024 and the tax year ended March 31, 2024, were as follows: For the tax period from April 1, 2024 through September 30, 2024 For the tax year from April 1, 2023 through March 31, 2024 Ordinary income $ 3,107,479 $ 9,819,273 3,107,479 9,819,273 As of March 31, 2024 and March 31, 2023, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Statements of Assets and Liabilities by temporary book or tax differences primarily arising from the tax treatment of organizational costs, the tax treatment of transaction expenses related to the Loan Portfolio Acquisition, and the tax treatment of uncrystallized capital gain incentive fees. March 31, 2024 March 31, 2023 Undistributed ordinary income $ 1,782,017 $ 3,418,714 Net unrealized appreciation (depreciation) on investments 1,248,303 713,009 Capital loss carry forwards (210,767 ) - Other temporary differences (3,393,536 ) (399,948 ) Total $ (573,983 ) $ 3,731,775 The following table sets forth the tax cost basis and the estimated aggregate gross unrealized appreciation and depreciation from investments and cash equivalents for federal income tax purposes as of September 30, 2024, March 31, 2024 and December 31, 2023: September 30, 2024 March 31, 2024 December 31, 2023 Tax cost of investments and cash equivalents $ 85,064,067 $ 86,762,991 $ 86,082,952 Unrealized appreciation $ 973,473 $ 1,363,524 $ 784,052 Unrealized depreciation $ (137,466 ) $ (115,221 ) $ (135,369 ) Net unrealized appreciation (depreciation) from investments and cash equivalents $ 836,007 $ 1,248,303 648,683

FINANCIAL HIGHLIGHTS

FINANCIAL HIGHLIGHTS	9 Months Ended
FINANCIAL HIGHLIGHTS	Sep. 30, 2024
FINANCIAL HIGHLIGHTS [Abstract]
FINANCIAL HIGHLIGHTS	NOTE 11 — FINANCIAL HIGHLIGHTS The following presents financial highlights for the nine months ended September 30, 2024 and 2023: For the nine months ended September 30, 2024 September 30, 2023 Per share data: Net asset value at beginning of period $ 13.77 $ 13.91 Net investment income (loss) (1) 0.23 0.79 Net realized and unrealized gains/(losses) on investments (1) 0.03 (0.01 ) Net increase/(decrease) in net assets resulting from operations 0.26 0.78 Distributions from net investment income (loss) (4) (0.75 ) (0.63 ) Net asset value at end of period $ 13.28 $ 14.06 Net assets at end of period $ 82,539,642 $ 87,402,852 Shares outstanding at end of period 6,214,995 6,214,705 Weighted average net assets $ 84,768,322 $ 88,458,750 Per share market value at end of period $ 10.64 $ 9.68 Total return based on market value (2) 35.15 % (1.22 )% Total return based on net asset value (2) 3.39 % 7.66 % Ratio/Supplemental data: Ratio of expenses to average net assets (3) 8.92 % 3.82 % Ratio of net investment income (loss) to average net assets (3) 1.72 % 5.52 % Portfolio turnover (3) 7.96 % 3 % (1) The per share data was derived by using the weighted average shares outstanding during the periods presented. (2) Total return based on market value is based on the change in market price per share between the beginning and ending market prices per share in each period and assumes that common stock dividends are reinvested in accordance with our common stock dividend reinvestment plan. Total return based on net asset value is based upon the change in net asset value per share between the beginning and ending net asset values per share in each period and assumes that dividends are reinvested in accordance with our common stock dividend reinvestment plan. For periods less than a year, total return is not annualized. (3) Ratio is not annualized. (4) Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the tax year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that tax year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the tax year. The amounts and sources of distributions reported are only estimates and are not being provided for U.S. tax reporting purposes.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2024
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 12 — SUBSEQUENT EVENTS The Company’s management evaluated subsequent events through the date on which the financial statements were issued. Other than the item listed below, there have been no subsequent events that occurred during such period that have required adjustment or disclosure in the financial statements. Loan Portfolio Acquisition On October 1, 2024, the Company completed its previously announced acquisition from Chicago Atlantic Loan Portfolio, LLC (“CALP”) of a portfolio of loans (the “Loan Portfolio”) in exchange for newly issued shares of the Company’s common stock (the “Loan Portfolio Acquisition”), pursuant to the Purchase Agreement, dated as of February 18, 2024, between the Company and CALP (the “Loan Portfolio Acquisition Agreement”). In accordance with the terms of the Loan Portfolio Acquisition Agreement, at the effective time of the Loan Portfolio Acquisition, the Company issued 16,605,372 shares of its common stock to CALP in exchange for the Loan Portfolio, which was determined by the Company to have a fair value of $219,621,125 as of September 28, 2024. Upon the closing of the Loan Portfolio Acquisition, there were 22,820,367 shares of the Company’s common stock outstanding. The Loan Portfolio Acquisition will be accounted for as an asset acquisition by the Company, with the Loan Portfolio accounted for at fair value both at the acquisition date and prospectively. The transaction costs incurred by the Company for the asset acquisition were expensed as incurred, because the acquired assets consist of a loan portfolio that is accounted for prospectively at fair value. In addition to transaction costs, there were deferred offering costs associated with the issuance of equity securities which were capitalized and charged to capital upon the issuance of shares of the Company’s common stock concurrently with the completion of the Loan Portfolio Acquisition. The following table sets forth certain unaudited information, as of September 28, 2024, for each debt investment added to the Company’s portfolio upon the closing of the Loan Portfolio Acquisition. Issuer Industry Instrument Reference Rate Floor Spread Total Coupon Maturity Principal Transaction Fair Value (k) Aeriz Holdings Corp. Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 7.00% 6.00% Cash 2.00% PIK 16.00%(c) 6/30/2025 $ 10,471,115 $ 10,400,871 Archos Capital Group, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 8.50% 5.75% Cash 14.25% Cash 12/31/2024 1,800,824 1,812,492 Aura Home, Inc. Consumer Products First Lien Senior Secured Term Loan 4.84%(b) 4.00% 7.50% Cash 12.34% Cash 9/22/2025 3,325,000 3,275,125 Deep Roots Harvest, Inc. Cannabis First Lien Senior Secured Delayed Draw Term Loan – Unfunded 8.00%(a) 8.00% 6.50% Cash 14.50% Cash 8/15/2027 5,000,000 4,850,000 Dreamfields Brands, Inc. (Jeeter) Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 7.50% 8.75% Cash 16.75% Cash 5/3/2026 23,550,000 23,865,963 Elevation Cannabis, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 8.50% 7.75% Cash 16.25% Cash 12/31/2026 14,750,000 14,500,582 Flowery – Bill’s Nursery, Inc. Cannabis First Lien Senior Secured Delayed Draw Term Loan Fixed n/a n/a 11.00% Cash 5.00% PIK 12/31/2025 9,494,063 9,568,960 HA-MD, LLC Cannabis First Lien Senior Secured Term Loan Fixed n/a n/a 15.00% Cash 6/6/2026 3,395,000 3,436,023 Hartford Gold Group, LLC Precious Metals First Lien Senior Secured Term Loan 4.84%(b) 1.50% 9.85% Cash 14.69% Cash 11/30/2024 91,043 92,146 Hartford Gold Group, LLC Precious Metals First Lien Senior Secured Term Loan 4.84%(b) 1.50% 9.85% Cash 14.69% Cash 12/17/2025 543,132 527,991 Hartford Gold Group, LLC Precious Metals First Lien Senior Secured Term Loan 4.84%(b) 1.50% 9.85% Cash 14.69% Cash 1/6/2027 1,927,965 1,671,784 Minden Holdings, LLC Real Estate First Lien Senior Secured Term Loan 8.00%(a) n/a 7.25% Cash 15.25% Cash 5/31/2026 3,000,000 3,038,063 Nova Farms, LLC Cannabis First Lien Senior Secured Term Loan 8.00%(a) 8.50% 6.50% Cash 15.00% Cash 3/28/2027 16,050,000 15,017,271 Oasis – AZ GOAT AZ LLC Cannabis First Lien Senior Secured Term Loan 8.00%(a) 8.00% 7.50% Cash 15.50% Cash 3/31/2026 5,400,000 5,388,600 Proper Holdings, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan Fixed n/a n/a 11.00% Cash 2.00% PIK 5/30/2025 4,544,484 4,592,075 Protect Animals With Satellites LLC (Halo Collar) Consumer Products First Lien Senior Secured Term Loan 8.00%(a) 8.50% 1.75% Cash 3.00% PIK 13.25%(e) 11/1/2026 3,687,984 3,450,749 Protect Animals With Satellites LLC (Halo Collar) Consumer Products Incremental First Lien Senior Secured Term Loan 8.00%(a) 8.50% 1.75% Cash 3.00% PIK 13.25%(e) 11/1/2026 2,000,000 1,870,611 Remedy – Maryland Wellness, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 5.00% 7.50% Cash 3.50% PIK 19.00%(f) 8/4/2025 3,243,569 3,213,431 RTCP, LLC (f/k/a RevTek Capital, LLC) Financial Intermediary First Lien Senior Secured Note Fixed n/a n/a 15.00% Cash 10/2/2028 22,000,000 22,265,833 STIIIZY, Inc. (f/k/a Shryne Group Inc.) Cannabis First Lien Senior Secured Term Loan 8.00%(a) 4.00% 8.50% Cash 1.00% PIK 17.50%(d) 5/26/2026(l) 13,781,063 14,310,218 SimSpace Corp. Information Technology Services First Lien Senior Secured Term Loan 8.00%(a) 8.25% 10.00% Cash 18.50% Cash 11/1/2025 6,775,077 6,977,670 Story of Maryland, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 3.25% 8.75% Cash 2.00% PIK 18.75%(i) 10/4/2024 9,000,000 9,072,188 Subsero Holdings – Illinois, Inc. Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 7.00% 7.00% Cash 2.00% PIK 17.00%(g) 7/29/2026 2,996,239 2,942,693 Sunny Days Enterprises, LLC Healthcare First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 3.50% 4.75% Cash 8.00% PIK 20.75%(h) 3/31/2025 2,871,079 2,948,937 Verano Holdings Corp. Cannabis First Lien Senior Secured Term Loan 8.00%(a) 6.25% 6.50% Cash 14.50% Cash 10/30/2026 34,245,350 34,994,818 West Creek Financial Holdings, Inc. d/b/a Koalafi Consumer Services Series A Senior Note Fixed n/a n/a 13.80% Cash 11/29/2027 5,081,746 5,133,298 Youth Opportunity Investments, LLC Healthcare First Lien Senior Secured Term Loan 4.84%(b) 4.00% 7.75% Cash 12.59% Cash 9/18/2026 10,507,813 10,402,734 $ 219,532,543 $ 219,621,125 (a) Reference Rate and Total Coupon for floating rate loans are based on the market Prime Rate of 8.00% as of September 28, 2024. (b) Reference Rate and Total Coupon for floating rate loans are based on the market SOFR of 4.84% as of September 28, 2024. (c) Total Coupon for Aeriz Holdings Corp. includes 2.00% PIK. (d) Total Coupon for STIIIZY, Inc. includes 1.00% PIK. (e) Total Coupon for Protect Animals With Satellites LLC (Halo Collar) includes 3.00% PIK. (f) Total Coupon for Remedy – Maryland Wellness, LLC includes 3.50% PIK. (g) Total Coupon for Subsero Holdings – Illinois, Inc. includes 2.00% PIK. (h) Total Coupon for Sunny Days Enterprises, LLC includes 8.00% PIK. (i) Total Coupon for Story of Maryland, LLC includes 2.00% PIK. (j) Total Coupon for West Creek Financial Holdings, Inc. includes 5.00 (k) Transaction Fair Value represents the fair value, as of September 28, 2024, determined by the Company for such investment for purposes of the Loan Portfolio Acquisition. For each investment, Transaction Fair Value includes fair value and accrued but unpaid interest (including uncapitalized payment-in-kind interest) through September 28, 2024, for such investment (if any). (l) STIIIZY, Inc. maturity date was amended to 5/26/2027 on September 30, 2024. The transaction fair value determinations in the above table were made pursuant to the requirements of, and solely for the purposes of, the Loan Portfolio Acquisition Agreement. The transaction fair value information was not audited or reviewed or approved for purposes of financial statement preparation or as part of a comprehensive statement of the Company’s financial results. In that regard, there can be no assurance that the Company’s final results for the fiscal year ending December 31, 2024 will not differ materially from this information. The information presented in the above table should not be viewed as a substitute for interim financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The financial data included in the above table has been prepared by, and is the responsibility of, the Company’s management. Subsequent Investments On October 4, 2024, the Company exited its debt investment in Story of Maryland, LLC. The Company received payment in full of $9.01 million on its first lien senior secured delayed draw term loan. On October 11, 2024, the Company invested an additional $6.82 million in STIIIZY, Inc.’s first lien senior secured term loan maturing on May 26, 2027 for a net consideration of $6.68 million. On October 23, 2024, the Company funded the $5.00 million unfunded commitment that the Company assumed in connection with the Loan Portfolio Acquisition with respect to Deep Roots Harvest, Inc.’s first lien senior secured term loan maturing on August 15, 2027 for a net consideration of $4.86 million. On November 4, 2024, the Company invested $3.00 million in Tulip.IO Inc.’s first lien senior secured term loan maturing on November 4, 2028 for a net consideration of $2.97 million.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2024
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), including the requirements under ASC 946, Financial Services—Investment Companies and Articles 6 and 12 of Regulation S-X. In the opinion of management, all adjustments of a normal recurring nature considered necessary for the fair presentation of the financial statements for the interim period presented have been made, and such adjustments are normal and recurring in nature. The current period’s results of operations are not necessarily indicative of results that may be achieved for the year .
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions affecting reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income, expenses, and gains and losses during the reported period
Investment Valuation	Investment Valuation The Company’s investments are recorded at their estimated fair value on the Statement of Assets and Liabilities. Investments for which market quotations are readily available will typically be valued at the bid price of those market quotations. To validate market quotations, we utilize a number of factors to determine if the quotations are representative of fair value, including the source and number of the quotations. Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value as determined in good faith by the Adviser, as the Company’s valuation designee (the “Valuation Designee”), based on inputs that may include valuations, or ranges of valuations, provided by independent third-party valuation firm(s) engaged by the Adviser. Generally, the valuation approach used for debt investments is the income approach. The approach derives a value based on either determining the present value of a projected level of cash flow, including a terminal value, or by the capitalization of a normalized measure of future cash flow. The discounted cash flow (“DCF”) method, one of the methodologies under the income approach, involves estimating future cash flows under various scenarios and discounting them to the measurement date. The discount rate represents a return required by a market participant in order to make an investment in the subject company. Alternatively, the market approach or asset approach may be used. The market approach is a way of determining a value indication by using one or more methods that compare the portfolio company to similar businesses. Value indicators are applied to relevant financial information of the entity being valued to estimate its fair value. There are two methodologies to consider under the market approach: the guideline company method (“GCM”) and the controlling transaction method (“CTM”). The GCM is based on the premise that the pricing multiples of comparable publicly traded companies can be used as a tool to value privately held companies. The publicly traded companies’ ratios and business enterprise value provide guidance in the valuation process. Considerations of factors such as size, growth, profitability and return on investment are also analyzed and compared to the subject business. The CTM is based on the same premise as the GCM. Guideline transactions include change-of-control transactions involving public or private businesses for companies engaged in similar lines of business or with similar economic characteristics. The valuation considers the price at which the merger or acquisition took place to other factors in order to create a pricing multiple that can be used to determine an estimate of value for the subject company. The asset approach provides an indication of the portfolio company’s value by developing a valuation-based balance sheet. This approach requires adjusting the historical assets and liabilities listed on the U.S. GAAP-based balance sheet to estimated fair values. The excess of assets over liabilities represents the tangible value of the business enterprise. The asset approach does not consider the relevant earnings capacity of a going concern business. Pursuant to Rule 2a-5 under the 1940 Act, the Board designated the Adviser as the Valuation Designee to perform the fair value determinations for the Company, subject to the oversight of the Board and certain Board reporting and other requirements. As part of the valuation process, the Adviser takes into account relevant factors in determining the fair value of our investments, including: the estimated enterprise value of a portfolio company (i.e., the total fair value of the portfolio company’s debt and equity), the nature and realizable value of any collateral, the portfolio company’s ability to make payments based on its earnings and cash flow, the markets in which the portfolio company does business, a comparison of the portfolio company’s securities to any similar publicly traded securities, and overall changes in the interest rate environment and the credit markets. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, the Adviser considers whether the pricing indicated by the external event corroborates its valuation. The Adviser undertakes a multi-step valuation process, which includes, among other procedures, the following: • With respect to investments for which market quotations are readily available, those investments will typically be valued at the bid price of those market quotations; • With respect to investments for which market quotations are not readily available, the valuation process begins with the Adviser’s valuation committee establishing a preliminary valuation of each investment, which may be based on valuations, or ranges of valuations, provided by independent valuation firm(s); • Preliminary valuations are documented and discussed by the Adviser’s valuation committee and, where appropriate, the independent valuation firm(s); and • The Adviser determines the fair value of each investment. We conduct this valuation process on a quarterly basis. We apply Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurement • Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date; • Level 2 – Valuations based on quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities • Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of our investments may fluctuate from period to period. Additionally, the fair value of such investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that may ultimately be realized. Further, such investments are generally less liquid than publicly traded securities and may be subject to contractual and other restrictions on resale. If we were required to liquidate a portfolio investment in a forced or liquidation sale, it could realize amounts that are different from the amounts presented and such differences could be material. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected previously.
Equity Securities and Warrants	Equity Securities and Warrants The Company may be issued warrants by issuers as yield enhancements. These warrants are recorded as assets at estimated fair value on the grant date. The Company determines the cost basis of the warrants or other equity securities received based upon their respective fair values on the date of receipt in proportion to the total fair value of the debt and warrants or other equity securities received. Depending on the facts and circumstances, the Company generally utilizes a combination of one or several forms of the market approach and contingent claim analyses (a form of option analysis) to estimate the fair value of the securities as of the measurement date and determines the cost basis using a relative fair value methodology. As part of its application of the market approach, the Company estimates the enterprise value of a portfolio company utilizing customary pricing multiples, based on the development stage of the underlying issuers, or other appropriate valuation methods, such as considering recent transactions in the equity securities of the portfolio company or third-party valuations that are assessed to be indicative of fair value of the respective portfolio company. If appropriate, based on the facts and circumstances, the Company performs an allocation of the enterprise value to the equity securities utilizing a contingent claim analysis and/or other waterfall calculation by which it allocates the enterprise value across the portfolio company’s warrants and other equity securities in order of their preference relative to one another.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consists of funds deposited with financial institutions and short-term (maturity of 90 days or less) liquid investments and money market funds. Funds held in money market funds are considered Level 1 in the fair value hierarchy in accordance with ASC 820. Cash held in demand deposit accounts may exceed the Federal Deposit Insurance Corporation (“FDIC”) insured limit. The Company has not incurred any losses on these accounts, and the credit risk exposure is mitigated by the financial strength of the banking institution where the accounts are held. As of September
Earnings per share	Earnings per share Basic earnings per share is computed by dividing net increase (decrease) in net assets resulting from operations
Investment Transactions	Investment Transactions Investment transactions are recorded on trade date. Realized gains or losses are recognized as the difference between the net proceeds received (excluding prepayment fees, if any) and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments written off during the period, net of recoveries. Current-period changes in fair value of investments are reflected as a component of the net change in unrealized appreciation (depreciation) on investments on the Statements of Operations. The net change in unrealized appreciation (depreciation) primarily reflects the change in investment fair values as of the last business day of the reporting period, including the reversal of previously recorded unrealized gains or losses with respect to investments realized during the period. Investments traded but not yet settled, if any, are reported in payable for investments purchased and receivable for investments sold on the Statement of Assets and Liabilities.
Interest and Dividend Income	Interest and Dividend Income Interest income is recorded on the accrual basis and includes accretion and amortization of discounts or premiums, respectively. Discounts and premiums to par value on securities purchased are accreted and amortized, respectively, into interest income over the contractual life of the respective security using the effective yield method. The amortized cost of investments includes the original cost adjusted for the accretion and amortization of discounts and premiums, respectively. Upon prepayment of a loan or debt security, any prepayment premiums and unamortized discounts or premiums are recorded as interest income in the current period. When a debt security becomes 90 days or more past due, or if management o therwise does not expect that principal, interest, and other obligations due will be collected in full, the Company will generally place the debt security on non-accrual status and cease recognizing interest income on that debt security until all principal and interest due has been paid or the Company believes the borrower has demonstrated the ability to repay its current and future contractual obligations. Any uncollected interest is reversed from income in the period that collection of the interest receivable is determined to be doubtful. However, the Company may make exceptions to this policy if the investment has sufficient collateral value and is in the process of collection. As of September Interest income earned, excluding accretion of discounts and amortization of premiums, was $2,534,647 and $7,702,298 for the three and nine months ended September September September As of September Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. Certain investments may have contractual PIK interest or dividends. PIK interest or dividends represents accrued interest or dividends that is added to the principal amount of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity. If PIK interest or dividends are not expected to be realized by the Company, the investment generating PIK interest or dividends will be placed on non-accrual status. When an investment with PIK is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income, respectively.
Fee Income	Fee Income All transaction fees earned in connection with our investments are recognized as fee income and are generally non-recurring. Such fees typically include fees for services, including administrative, structuring (including with respect to amendments) and advisory services, provided to portfolio companies. We recognize income from fees for providing such structuring and advisory services when the services are rendered or the transactions are completed, and payment is received (generally immediately). For the three and nine months ended September September
Income Taxes	Income Taxes The Company adopted an initial tax year end of December 31, 2021 and was taxed as a corporation for U.S. federal income tax purposes for the tax period ended December 31, 2021. The Company adopted the tax year end of March 31, 2022 and elected to be treated for U.S. federal income tax purposes as a RIC under Subchapter M of the Code for the tax period January 1, 2022 through March 31, 2022, and intends to maintain such election in the current and future taxable years. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its stockholders for each taxable year at least 90% of its investment company taxable income. In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company, at its discretion (subject to the requirement to distribute 90% of its investment company taxable income as described above), may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to stockholders. For the three and nine months ended September recorded September September T he Company evaluates tax positions taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority in accordance with ASC Topic 740, Income Taxes (“ASC 740”). Tax benefits of positions not deemed to meet the more-likely-than-not threshold, or uncertain tax positions, would be recorded as tax expense in the current year. It is the Company’s policy to recognize accrued interest and penalties related to uncertain tax benefits in income tax expense. Based on the analysis of the Company’s tax position, the Company has no uncertain tax positions that met the recognition or measurement criteria as of September
Distributions	Distributions
Offering Costs	Offering Costs These costs consist primarily of legal fees and other costs incurred in connection with the Company’s share offerings, the preparation of the Company’s registration statement, and registration fees. Costs associated with the offering of common shares of the Company are capitalized as deferred offering and, if any, are included in deferred offering costs on the Statements of Assets and Liabilities. As of September September September
Transaction Expenses Related to the Loan Portfolio Acquisition	Transaction expenses related to the Loan Portfolio Acquisition Cumulative transaction expenses related to the Loan Portfolio Acquisition at September For the three and nine months ended September September September
Deferred Financing Costs [Policy Text Block]	Deferred Financing Costs Deferred financing costs consist of origination expenses incurred in connection with the anticipated closing of a credit facility, and may include legal, accounting, and other related expenses. These costs are deferred and will be amortized using the straight-line method over the term of the applicable credit facility.
New Accounting Standards	New Accounting Standards In November 2023, the FASB issued Accounting Standard Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendment is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. We do not believe that the Company will be materially impacted by the adoption of ASU 2023-07. In December 2023, the FASB issued Accounting Standard Update (“ASU”) No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”),” which improves the transparency of income tax disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and is to be adopted on a prospective basis with the option to apply retrospectively. We are currently evaluating the impact this ASU will have on our financial position and disclosures, but we do not believe that the Company will be materially impacted by the adoption of ASU 2023-09.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
INVESTMENTS (Tables)	Sep. 30, 2024
INVESTMENTS [Abstract]
Portfolio Investments	The Company’s portfolio investments are primarily in companies conducting business in or supporting the cannabis industries. The following tables summarize the composition of the Company’s portfolio investments by industry at amortized cost and fair value and as a percentage of the total portfolio as of September 30, 2024 and December 31, 2023. September 30, 2024 Amortized Cost Fair Value Industry Amount % Amount % Wholesale Trade $ 53,091,077 96.6 % $ 53,852,511 96.5 % Real Estate Services 1,861,427 3.4 1,936,000 3.5 Total $ 54,952,504 100.0 % $ 55,788,511 100.0 % December 31, 2023 Amortized Cost Fair Value Industry Amount % Amount % Wholesale Trade $ 53,471,317 100.0 % $ 54,120,000 100.0 % Total $ 53,471,317 100.0 % $ 54,120,000 100.0 % The geographic composition is determined by the location of headquarters of the portfolio company. The following tables summarize the composition of the Company’s portfolio investments by geographic region of the United States at amortized cost and fair value and as a percentage of the total portfolio as of September 30, 2024 and December 31, 2023. Geographic regions are defined as: West, for the states of WA, OR, ID, MT, WY, CO, AK, HI, UT, NV and CA; Midwest, for the states ND, SD, NE, KS, MO, IA, MN, WI, MI, IL, IN and OH; Northeast, for the states PA, NJ, NY, CT, RI, MA, VT, NH and ME; Southeast, for the states of AR, LA, MS, TN, KY, AL, FL, GA, SC, NC, VA, DE, WV and MD; and Southwest, for the states of AZ, NM, TX and OK. September 30, 2024 Amortized Cost Fair Value Geographic Location Amount % Amount % West $ 24,054,977 43.8 % $ 24,185,000 43.3 % Midwest 23,473,866 42.7 23,984,000 43.0 Northeast 7,423,661 13.5 7,619,511 13.7 Total $ 54,952,504 100.0 % $ 55,788,511 100.0 % December 31, 2023 Amortized Cost Fair Value Geographic Location Amount % Amount % West $ 24,910,798 46.5 % $ 25,069,000 46.4 % Midwest 24,571,197 46.0 24,911,000 46.0 Northeast 3,989,322 7.5 4,140,000 7.6 Total $ 53,471,317 100.0 % $ 54,120,000 100.0 % The following tables summarize the composition of the Company’s portfolio investments by investment type at amortized cost and fair value and as a percentage of the total portfolio as of September 30, 2024 and December 31, 2023. September 30, 2024 Amortized Cost Fair Value Investment Amount % Amount % Senior Secured First Lien Term Loans $ 42,609,491 77.5 % $ 43,370,000 77.7 % Senior Secured Notes 11,600,187 21.1 11,742,511 21.1 Equity 742,826 1.4 676,000 1.2 Total $ 54,952,504 100.0 % $ 55,788,511 100.0 % December 31, 2023 Amortized Cost Fair Value Investment Amount % Amount % Senior Secured First Lien Term Loans $ 45,372,626 84.9 % $ 46,006,000 85.0 % Senior Secured Notes 8,098,691 15.1 8,114,000 15.0 Total $ 53,471,317 100.0 % $ 54,120,000 100.0 %

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2024
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Investments Measured at Fair Value by Investment Type on Recurring Basis	The Company’s investments measured at fair value by investment type on a recurring basis as of September 30, 2024 and December 31, 2023 were as follows: Fair Value Measurements at September 30, 2024 Using Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Senior Secured First Lien Term Loans $ - $ - $ 43,370,000 $ 43,370,000 Senior Secured Notes - - 11,742,511 11,742,511 Equity - - 676,000 676,000 Total $ - $ - $ 55,788,511 $ 55,788,511 Fair Value Measurements at December 31, 2023 Using Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Senior Secured First Lien Term Loans $ - $ - $ 46,006,000 $ 46,006,000 Senior Secured Notes - - 8,114,000 8,114,000 Total $ - $ - $ 54,120,000 $ 54,120,000
Significant Unobservable Inputs used in Fair Value Measurement Level 3 Portfolio Investments	The following tables provide a summary of the significant unobservable inputs used to fair value the Level 3 portfolio investments as of September 30, 2024 and December 31, 2023. The methodology for the determination of the fair value of the Company’s investments is discussed in “Note 2 – Significant Accounting Policies”. Discount rate ranges are shown as spread over PRIME and Treasuries, respectively, for Senior Secured First Lien Term Loans, as of September 30, 2024 and December 31, 2023. Investment Type Fair Value as of Valuation Techniques/ Methodologies Unobservable Input Range Weighted Average (1) Senior Secured First Lien Term Loans $ 43,370,000 Discounted Cash Flow Discount Rate 9.9% - 13.5 % 11.9 % Senior Secured Notes 11,742,511 Discounted Cash Flow Discount Rate 7.1% - 12.9 % 10.2 % Preferred Equity Securities 500,000 Enterprise Value Market Approach Enterprise Valuation Multiple 2.25 x 2.25 x Warrants and Other Equity Securities 176,000 Option Pricing Model Volatility Factor 47.0 % 47.0 % Total $ 55,788,511 Investment Type Fair Value as of December 31, 2023 Valuation Techniques/ Methodologies Unobservable Input Range Weighted Average (1) Senior Secured First Lien Term Loans $ 46,006,000 Discounted Cash Flow Discount Rate 10.1% - 13.5 % 12.2 % Senior Secured Notes 8,114,000 Discounted Cash Flow Discount Rate 7.4% - 13.7 % 10.5 % Total $ 54,120,000 (1) The weighted average is calculated based on the fair value of each investment.
Changes in Fair Value of Level 3 Portfolio Investments	The following tables provide a summary of changes in the fair value of the Company’s Level 3 portfolio investments for the nine months ended September 30, 2024 and 2023: Senior Secured Senior Equity Total Fair Value as of December 31, 2023 $ 46,006,000 $ 8,114,000 $ - $ 54,120,000 Purchases 1,082,174 3,316,250 742,826 5,141,250 Accretion of discount and fees (amortization of premium), net 316,057 185,246 - 501,303 PIK interest 182,634 - - 182,634 Proceeds from sales of investments and principal repayments (4,344,000 ) - - (4,344,000 ) Net realized gain (loss) on investments - - - - Net change in unrealized appreciation (depreciation) from investments 127,135 127,015 (66,826 ) 187,324 Balance as of September 30 2024 $ 43,370,000 $ 11,742,511 $ 676,000 $ 55,788,511 Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30 $ 127,135 $ 127,015 $ (66,826 ) $ 187,324 Senior Secured Senior Total Fair Value as of December 31, 2022 $ 40,660,633 $ 9,593,917 $ 50,254,550 Purchases 8,442,000 - 8,442,000 Accretion of discount and fees (amortization of premium), net 233,119 197,933 431,052 PIK interest 78,153 - 78,153 Proceeds from sales of investments and principal repayments (180,000 ) (1,600,000 ) (1,780,000 ) Net realized gain (loss) on investments - (210,767 ) (210,767 ) Net change in unrealized appreciation (depreciation) on investments 263,095 (97,083 ) 166,012 Balance as of September 30, 2023 $ 49,497,000 $ 7,884,000 $ 57,381,000 Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30 2023 $ 263,095 $ (97,083 ) $ 166,012

COMMON STOCK (Tables)

COMMON STOCK (Tables)	9 Months Ended
COMMON STOCK (Tables)	Sep. 30, 2024
COMMON STOCK [Abstract]
Summary of Distributions Declared and Paid	The following table summarizes distributions declared and paid by the Company during the nine months ended September 30, 2024: Declaration Date Type Record Date Payment Date Per Share Dividends Paid March 8, 2024 Quarterly March 20, 2024 March 28, 2024 $ 0.25 $ 1,553,736 May 9, 2024 Quarterly June 20, 2024 June 28, 2024 $ 0.25 $ 1,553,738 August 8, 2024 Quarterly September 19, 2024 September 27, 2024 $ 0.25 $ 1,553,741 The following table summarizes distributions declared and paid by the Company during the nine months ended September 30, 2023: Declaration Date Type Record Date Payment Date Per Share Dividends Paid August 10, 2023 Quarterly September 15, 2023 September 29, 2023 $ 0.23 $ 1,429,374 August 10, 2023 Special September 15, 2023 September 29, 2023 $ 0.40 $ 2,485,869
Schedule of Distribution Reinvestment Plan	During the nine months ended September 30, 2024, the Company issued the following shares of common stock under the DRIP: Declaration Date Type Record Date Payment Date Shares March 8, 2024 Quarterly March 20, 2024 March 28, 2024 8 May 9, 2024 Quarterly June 20, 2024 June 28, 2024 15 August 8, 2024 Quarterly September 19, 2024 September 27, 2024 31 During , the Company issued the following shares of common stock under the DRIP: Declaration Date Type Record Date Payment Date Shares August 10, 2023 Quarterly September 15, 2023 September 29, 2023 12 August 10, 2023 Special September 15, 2023 September 29, 2023 21

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2024
EARNINGS PER SHARE [Abstract]
Computation of Weighted Average Basic and Diluted Net Increase (Decrease) in Net Assets Per Share from Operations	The following table sets forth the computation of the weighted average basic and diluted net increase (decrease) in net assets per share from operations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Net increase (decrease) in net assets resulting from operations $ (165,012 ) $ 1,273,882 $ 1,647,660 $ 4,842,366 Weighted Average Shares Outstanding — 6,214,965 6,214,673 6,214,952 6,214,672 Net increase (decrease) in net assets resulting from operations per share — basic and diluted $ (0.03 ) $ 0.20 $ 0.27 $ 0.78

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
INCOME TAXES (Tables)	Sep. 30, 2024
INCOME TAXES [Abstract]
Components of Distributable Earning	For income tax purposes, distributions paid to shareholders are reported as ordinary income, return of capital, long-term capital gains, or a combination thereof. The tax character of distributions paid for the six months ended September 30, 2024 and the tax year ended March 31, 2024, were as follows: For the tax period from April 1, 2024 through September 30, 2024 For the tax year from April 1, 2023 through March 31, 2024 Ordinary income $ 3,107,479 $ 9,819,273 3,107,479 9,819,273 As of March 31, 2024 and March 31, 2023, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Statements of Assets and Liabilities by temporary book or tax differences primarily arising from the tax treatment of organizational costs, the tax treatment of transaction expenses related to the Loan Portfolio Acquisition, and the tax treatment of uncrystallized capital gain incentive fees. March 31, 2024 March 31, 2023 Undistributed ordinary income $ 1,782,017 $ 3,418,714 Net unrealized appreciation (depreciation) on investments 1,248,303 713,009 Capital loss carry forwards (210,767 ) - Other temporary differences (3,393,536 ) (399,948 ) Total $ (573,983 ) $ 3,731,775
Investments and Cash Equivalents for Federal Income tax	The following table sets forth the tax cost basis and the estimated aggregate gross unrealized appreciation and depreciation from investments and cash equivalents for federal income tax purposes as of September 30, 2024, March 31, 2024 and December 31, 2023: September 30, 2024 March 31, 2024 December 31, 2023 Tax cost of investments and cash equivalents $ 85,064,067 $ 86,762,991 $ 86,082,952 Unrealized appreciation $ 973,473 $ 1,363,524 $ 784,052 Unrealized depreciation $ (137,466 ) $ (115,221 ) $ (135,369 ) Net unrealized appreciation (depreciation) from investments and cash equivalents $ 836,007 $ 1,248,303 648,683

FINANCIAL HIGHLIGHTS (Tables)

FINANCIAL HIGHLIGHTS (Tables)	9 Months Ended
FINANCIAL HIGHLIGHTS (Tables)	Sep. 30, 2024
FINANCIAL HIGHLIGHTS [Abstract]
Financial Highlights	The following presents financial highlights for the nine months ended September 30, 2024 and 2023: For the nine months ended September 30, 2024 September 30, 2023 Per share data: Net asset value at beginning of period $ 13.77 $ 13.91 Net investment income (loss) (1) 0.23 0.79 Net realized and unrealized gains/(losses) on investments (1) 0.03 (0.01 ) Net increase/(decrease) in net assets resulting from operations 0.26 0.78 Distributions from net investment income (loss) (4) (0.75 ) (0.63 ) Net asset value at end of period $ 13.28 $ 14.06 Net assets at end of period $ 82,539,642 $ 87,402,852 Shares outstanding at end of period 6,214,995 6,214,705 Weighted average net assets $ 84,768,322 $ 88,458,750 Per share market value at end of period $ 10.64 $ 9.68 Total return based on market value (2) 35.15 % (1.22 )% Total return based on net asset value (2) 3.39 % 7.66 % Ratio/Supplemental data: Ratio of expenses to average net assets (3) 8.92 % 3.82 % Ratio of net investment income (loss) to average net assets (3) 1.72 % 5.52 % Portfolio turnover (3) 7.96 % 3 % (1) The per share data was derived by using the weighted average shares outstanding during the periods presented. (2) Total return based on market value is based on the change in market price per share between the beginning and ending market prices per share in each period and assumes that common stock dividends are reinvested in accordance with our common stock dividend reinvestment plan. Total return based on net asset value is based upon the change in net asset value per share between the beginning and ending net asset values per share in each period and assumes that dividends are reinvested in accordance with our common stock dividend reinvestment plan. For periods less than a year, total return is not annualized. (3) Ratio is not annualized. (4) Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the tax year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that tax year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the tax year. The amounts and sources of distributions reported are only estimates and are not being provided for U.S. tax reporting purposes.

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	9 Months Ended
SUBSEQUENT EVENTS (Tables)	Sep. 30, 2024
SUBSEQUENT EVENTS [Abstract]
Acquisition of Loan Portfolio	The following table sets forth certain unaudited information, as of September 28, 2024, for each debt investment added to the Company’s portfolio upon the closing of the Loan Portfolio Acquisition. Issuer Industry Instrument Reference Rate Floor Spread Total Coupon Maturity Principal Transaction Fair Value (k) Aeriz Holdings Corp. Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 7.00% 6.00% Cash 2.00% PIK 16.00%(c) 6/30/2025 $ 10,471,115 $ 10,400,871 Archos Capital Group, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 8.50% 5.75% Cash 14.25% Cash 12/31/2024 1,800,824 1,812,492 Aura Home, Inc. Consumer Products First Lien Senior Secured Term Loan 4.84%(b) 4.00% 7.50% Cash 12.34% Cash 9/22/2025 3,325,000 3,275,125 Deep Roots Harvest, Inc. Cannabis First Lien Senior Secured Delayed Draw Term Loan – Unfunded 8.00%(a) 8.00% 6.50% Cash 14.50% Cash 8/15/2027 5,000,000 4,850,000 Dreamfields Brands, Inc. (Jeeter) Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 7.50% 8.75% Cash 16.75% Cash 5/3/2026 23,550,000 23,865,963 Elevation Cannabis, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 8.50% 7.75% Cash 16.25% Cash 12/31/2026 14,750,000 14,500,582 Flowery – Bill’s Nursery, Inc. Cannabis First Lien Senior Secured Delayed Draw Term Loan Fixed n/a n/a 11.00% Cash 5.00% PIK 12/31/2025 9,494,063 9,568,960 HA-MD, LLC Cannabis First Lien Senior Secured Term Loan Fixed n/a n/a 15.00% Cash 6/6/2026 3,395,000 3,436,023 Hartford Gold Group, LLC Precious Metals First Lien Senior Secured Term Loan 4.84%(b) 1.50% 9.85% Cash 14.69% Cash 11/30/2024 91,043 92,146 Hartford Gold Group, LLC Precious Metals First Lien Senior Secured Term Loan 4.84%(b) 1.50% 9.85% Cash 14.69% Cash 12/17/2025 543,132 527,991 Hartford Gold Group, LLC Precious Metals First Lien Senior Secured Term Loan 4.84%(b) 1.50% 9.85% Cash 14.69% Cash 1/6/2027 1,927,965 1,671,784 Minden Holdings, LLC Real Estate First Lien Senior Secured Term Loan 8.00%(a) n/a 7.25% Cash 15.25% Cash 5/31/2026 3,000,000 3,038,063 Nova Farms, LLC Cannabis First Lien Senior Secured Term Loan 8.00%(a) 8.50% 6.50% Cash 15.00% Cash 3/28/2027 16,050,000 15,017,271 Oasis – AZ GOAT AZ LLC Cannabis First Lien Senior Secured Term Loan 8.00%(a) 8.00% 7.50% Cash 15.50% Cash 3/31/2026 5,400,000 5,388,600 Proper Holdings, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan Fixed n/a n/a 11.00% Cash 2.00% PIK 5/30/2025 4,544,484 4,592,075 Protect Animals With Satellites LLC (Halo Collar) Consumer Products First Lien Senior Secured Term Loan 8.00%(a) 8.50% 1.75% Cash 3.00% PIK 13.25%(e) 11/1/2026 3,687,984 3,450,749 Protect Animals With Satellites LLC (Halo Collar) Consumer Products Incremental First Lien Senior Secured Term Loan 8.00%(a) 8.50% 1.75% Cash 3.00% PIK 13.25%(e) 11/1/2026 2,000,000 1,870,611 Remedy – Maryland Wellness, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 5.00% 7.50% Cash 3.50% PIK 19.00%(f) 8/4/2025 3,243,569 3,213,431 RTCP, LLC (f/k/a RevTek Capital, LLC) Financial Intermediary First Lien Senior Secured Note Fixed n/a n/a 15.00% Cash 10/2/2028 22,000,000 22,265,833 STIIIZY, Inc. (f/k/a Shryne Group Inc.) Cannabis First Lien Senior Secured Term Loan 8.00%(a) 4.00% 8.50% Cash 1.00% PIK 17.50%(d) 5/26/2026(l) 13,781,063 14,310,218 SimSpace Corp. Information Technology Services First Lien Senior Secured Term Loan 8.00%(a) 8.25% 10.00% Cash 18.50% Cash 11/1/2025 6,775,077 6,977,670 Story of Maryland, LLC Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 3.25% 8.75% Cash 2.00% PIK 18.75%(i) 10/4/2024 9,000,000 9,072,188 Subsero Holdings – Illinois, Inc. Cannabis First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 7.00% 7.00% Cash 2.00% PIK 17.00%(g) 7/29/2026 2,996,239 2,942,693 Sunny Days Enterprises, LLC Healthcare First Lien Senior Secured Delayed Draw Term Loan 8.00%(a) 3.50% 4.75% Cash 8.00% PIK 20.75%(h) 3/31/2025 2,871,079 2,948,937 Verano Holdings Corp. Cannabis First Lien Senior Secured Term Loan 8.00%(a) 6.25% 6.50% Cash 14.50% Cash 10/30/2026 34,245,350 34,994,818 West Creek Financial Holdings, Inc. d/b/a Koalafi Consumer Services Series A Senior Note Fixed n/a n/a 13.80% Cash 11/29/2027 5,081,746 5,133,298 Youth Opportunity Investments, LLC Healthcare First Lien Senior Secured Term Loan 4.84%(b) 4.00% 7.75% Cash 12.59% Cash 9/18/2026 10,507,813 10,402,734 $ 219,532,543 $ 219,621,125 (a) Reference Rate and Total Coupon for floating rate loans are based on the market Prime Rate of 8.00% as of September 28, 2024. (b) Reference Rate and Total Coupon for floating rate loans are based on the market SOFR of 4.84% as of September 28, 2024. (c) Total Coupon for Aeriz Holdings Corp. includes 2.00% PIK. (d) Total Coupon for STIIIZY, Inc. includes 1.00% PIK. (e) Total Coupon for Protect Animals With Satellites LLC (Halo Collar) includes 3.00% PIK. (f) Total Coupon for Remedy – Maryland Wellness, LLC includes 3.50% PIK. (g) Total Coupon for Subsero Holdings – Illinois, Inc. includes 2.00% PIK. (h) Total Coupon for Sunny Days Enterprises, LLC includes 8.00% PIK. (i) Total Coupon for Story of Maryland, LLC includes 2.00% PIK. (j) Total Coupon for West Creek Financial Holdings, Inc. includes 5.00 (k) Transaction Fair Value represents the fair value, as of September 28, 2024, determined by the Company for such investment for purposes of the Loan Portfolio Acquisition. For each investment, Transaction Fair Value includes fair value and accrued but unpaid interest (including uncapitalized payment-in-kind interest) through September 28, 2024, for such investment (if any). (l) STIIIZY, Inc. maturity date was amended to 5/26/2027 on September 30, 2024.

ORGANIZATION (Details)

ORGANIZATION (Details) - USD ($)	Oct. 01, 2024	Sep. 28, 2024	Feb. 04, 2022	Sep. 30, 2024	Dec. 31, 2023
Debt Instruments [Abstract]
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Loan Portfolio Acquisition [Member]
Debt Instruments [Abstract]
Fair value of common stock		$ 219,621,125
Loan Portfolio Acquisition [Member] \| Subsequent Event [Member]
Debt Instruments [Abstract]
Number of shares issued in exchange of loan portfolio (in shares)	16,605,372
Expense Limitation Agreement [Member] \| Subsequent Event [Member]
Debt Instruments [Abstract]
Operating expenses at an annualized rate	2.15%
IPO [Member]
Debt Instruments [Abstract]
Number of shares issued (in shares)			6,214,286
Common stock, par value (in dollars per share)			$ 0.01
Shares issued			$ 87,000,000
Minimum [Member]
Debt Instruments [Abstract]
Debt investments term period				3 years
Maximum [Member]
Debt Instruments [Abstract]
Debt investments term period				6 years

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES, Cash and Cash Equivalents (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 30,111,563	$ 32,611,635
State Street Institutional U.S. Government Money Market Fund [Member]
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 30,110,000	$ 32,610,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES, Interest and Dividend Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Loan investments in portfolio placed on non-accrual status	$ 0		$ 0		$ 0
Interest income earned, excluding accretion of discounts	2,534,647	$ 2,756,231	7,702,298	$ 7,674,961
Interest receivable	1,635,943		1,635,943		1,755,360
Unearned interest income	$ 42,550		$ 42,550		$ 0

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES, Fee Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fee Income [Abstract]
Fee income	$ 489,176	$ 31,250	$ 813,926	$ 162,500
Other receivable	$ 401,313		$ 401,313		$ 0

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES, Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Percentage of taxable income and gain planned to be distributed by company			90%
Minimum percentage of ordinary income			98%
Minimum percentage of capital gains			98.20%
Federal excise tax rate based on distribution requirements			4%
Excise tax expense	$ 31,314	$ 0	$ 31,314	$ 0
Accrued exercise taxes payable	0		0		$ 10,655
Uncertain tax positions	$ 0		$ 0		$ 0
Minimum [Member]
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Percentage of taxable income and gain planned to be distributed by company			90%

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES, Offering Costs (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Offering Costs [Abstract]
Deferred offering costs	$ 1,125,739		$ 1,125,739		$ 0
Offering costs charged to capital	0	$ 0	0	$ 0
Offering costs unpaid	$ 986,806		$ 986,806		$ 0

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES, Transaction Expenses Related to Loan Portfolio Acquisition (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Transaction Expenses [Abstract]
Transaction expenses	$ 2,429,993	$ 0	$ 5,069,062	$ 0
Transaction fees payable	4,795,549		4,795,549		$ 711,264
Loan Portfolio Acquisition [Member]
Transaction Expenses [Abstract]
Transaction expenses related to legal costs	5,780,326		5,780,326		711,264
Transaction expenses	2,429,993	$ 0	5,069,062	$ 0
Transaction fees payable	$ 4,795,549		$ 4,795,549		$ 711,264

INVESTMENTS (Details)

INVESTMENTS (Details)	9 Months Ended
INVESTMENTS (Details)	Sep. 30, 2024 USD ($) Derivative	Dec. 31, 2023 USD ($) Derivative
Investments, Loans [Abstract]
Percentage of debt investments with variable interest rate	76.50%	84.90%
Percentage of debt investments with fixed interest rate	23.50%	15.10%
Loan repayment period	3 years
Number of derivative instruments held \| Derivative	0	0
Amortized Cost [Abstract]
Amount	$ 54,952,504	$ 53,471,317
Percentage	100%	100%
Fair Value [Abstract]
Amount	$ 55,788,511	$ 54,120,000
Percentage	100%	100%
Minimum [Member]
Investments, Loans [Abstract]
Loans maturity period	3 years
Maximum [Member]
Investments, Loans [Abstract]
Loans maturity period	6 years
Senior Secured First Lien Term Loans [Member]
Amortized Cost [Abstract]
Amount	$ 42,609,491	$ 45,372,626
Percentage	77.50%	84.90%
Fair Value [Abstract]
Amount	$ 43,370,000	$ 46,006,000
Percentage	77.70%	85%
Senior Secured Notes [Member]
Amortized Cost [Abstract]
Amount	$ 11,600,187	$ 8,098,691
Percentage	21.10%	15.10%
Fair Value [Abstract]
Amount	$ 11,742,511	$ 8,114,000
Percentage	21.10%	15%
Equity [Member]
Amortized Cost [Abstract]
Amount	$ 742,826
Percentage	1.40%
Fair Value [Abstract]
Amount	$ 676,000
Percentage	1.20%
West [Member]
Amortized Cost [Abstract]
Amount	$ 24,054,977	$ 24,910,798
Percentage	43.80%	46.50%
Fair Value [Abstract]
Amount	$ 24,185,000	$ 25,069,000
Percentage	43.30%	46.40%
Midwest [Member]
Amortized Cost [Abstract]
Amount	$ 23,473,866	$ 24,571,197
Percentage	42.70%	46%
Fair Value [Abstract]
Amount	$ 23,984,000	$ 24,911,000
Percentage	43%	46%
Northeast [Member]
Amortized Cost [Abstract]
Amount	$ 7,423,661	$ 3,989,322
Percentage	13.50%	7.50%
Fair Value [Abstract]
Amount	$ 7,619,511	$ 4,140,000
Percentage	13.70%	7.60%
Wholesale Trade [Member]
Amortized Cost [Abstract]
Amount	$ 53,091,077	$ 53,471,317
Percentage	96.60%	100%
Fair Value [Abstract]
Amount	$ 53,852,511	$ 54,120,000
Percentage	96.50%	100%
Real Estate Services [Member]
Amortized Cost [Abstract]
Amount	$ 1,861,427
Percentage	3.40%
Fair Value [Abstract]
Amount	$ 1,936,000
Percentage	3.50%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS, Investments Measured at Fair Value (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Assets [Abstract]
Fair value	$ 55,788,511	$ 54,120,000
Senior Secured First Lien Term Loans [Member]
Assets [Abstract]
Fair value	43,370,000	46,006,000
Senior Secured Notes [Member]
Assets [Abstract]
Fair value	11,742,511	8,114,000
Equity Securities [Member]
Assets [Abstract]
Fair value	676,000
Recurring [Member]
Assets [Abstract]
Fair value	55,788,511	54,120,000
Recurring [Member] \| Senior Secured First Lien Term Loans [Member]
Assets [Abstract]
Fair value	43,370,000	46,006,000
Recurring [Member] \| Senior Secured Notes [Member]
Assets [Abstract]
Fair value	11,742,511	8,114,000
Recurring [Member] \| Equity Securities [Member]
Assets [Abstract]
Fair value	676,000
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) Member
Assets [Abstract]
Fair value	0	0
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) Member \| Senior Secured First Lien Term Loans [Member]
Assets [Abstract]
Fair value	0	0
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) Member \| Senior Secured Notes [Member]
Assets [Abstract]
Fair value	0	0
Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) Member \| Equity Securities [Member]
Assets [Abstract]
Fair value	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Fair value	0	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Senior Secured First Lien Term Loans [Member]
Assets [Abstract]
Fair value	0	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Senior Secured Notes [Member]
Assets [Abstract]
Fair value	0	0
Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Equity Securities [Member]
Assets [Abstract]
Fair value	0
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Fair value	55,788,511	54,120,000
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Senior Secured First Lien Term Loans [Member]
Assets [Abstract]
Fair value	43,370,000	46,006,000
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Senior Secured Notes [Member]
Assets [Abstract]
Fair value	11,742,511	$ 8,114,000
Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Equity Securities [Member]
Assets [Abstract]
Fair value	$ 676,000

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS, Significant Unobservable Inputs used in Fair Value Measurement Level 3 Portfolio Investments (Details)		Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair value		$ 55,788,511	$ 54,120,000
Senior Secured First Lien Term Loans [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair value		$ 43,370,000	$ 46,006,000
Senior Secured First Lien Term Loans [Member] \| Discounted Cash Flow [Member] \| Discount Rate [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input		0.099	0.101
Senior Secured First Lien Term Loans [Member] \| Discounted Cash Flow [Member] \| Discount Rate [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input		0.135	0.135
Senior Secured First Lien Term Loans [Member] \| Discounted Cash Flow [Member] \| Discount Rate [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	[1]	0.119	0.122
Senior Secured Notes [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair value		$ 11,742,511	$ 8,114,000
Senior Secured Notes [Member] \| Discounted Cash Flow [Member] \| Discount Rate [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input		0.071	0.074
Senior Secured Notes [Member] \| Discounted Cash Flow [Member] \| Discount Rate [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input		0.129	0.137
Senior Secured Notes [Member] \| Discounted Cash Flow [Member] \| Discount Rate [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	[1]	0.102	0.105
Preferred Equity Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair value		$ 500,000
Preferred Equity Securities [Member] \| Enterprise Value Market Approach [Member] \| Enterprise Valuation Multiple [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input		0.0225
Preferred Equity Securities [Member] \| Enterprise Value Market Approach [Member] \| Enterprise Valuation Multiple [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	[1]	0.0225
Warrants and Other Equity Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Fair value		$ 176,000
Warrants and Other Equity Securities [Member] \| Option Pricing Model [Member] \| Volatility Factor [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input		0.47
Warrants and Other Equity Securities [Member] \| Option Pricing Model [Member] \| Volatility Factor [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Measurement Input	[1]	0.47

[1]The weighted average is calculated based on the fair value of each investment.

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS, Summary of Changes in Fair Value of Level 3 Portfolio Investments (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Changes in Fair Value of Level 3 Portfolio Investments [Abstract]
Fair value, beginning of period	$ 54,120,000	$ 50,254,550
Purchases	5,141,250	8,442,000
Accretion of discount and fees (amortization of premium), net	501,303	431,052
PIK interest	182,634	78,153
Proceeds from sales of investments and principal repayments	(4,344,000)	(1,780,000)
Net realized gain (loss) on investments	0	(210,767)
Net change in unrealized appreciation (depreciation) from investments	187,324	166,012
Fair value, end of period	55,788,511	57,381,000
Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30	187,324	166,012
Senior Secured First Lien Term Loans [Member]
Changes in Fair Value of Level 3 Portfolio Investments [Abstract]
Fair value, beginning of period	46,006,000	40,660,633
Purchases	1,082,174	8,442,000
Accretion of discount and fees (amortization of premium), net	316,057	233,119
PIK interest	182,634	78,153
Proceeds from sales of investments and principal repayments	(4,344,000)	(180,000)
Net realized gain (loss) on investments	0	0
Net change in unrealized appreciation (depreciation) from investments	127,135	263,095
Fair value, end of period	43,370,000	49,497,000
Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30	127,135	263,095
Senior Secured Notes [Member]
Changes in Fair Value of Level 3 Portfolio Investments [Abstract]
Fair value, beginning of period	8,114,000	9,593,917
Purchases	3,316,250	0
Accretion of discount and fees (amortization of premium), net	185,246	197,933
PIK interest	0	0
Proceeds from sales of investments and principal repayments	0	(1,600,000)
Net realized gain (loss) on investments	0	(210,767)
Net change in unrealized appreciation (depreciation) from investments	127,015	(97,083)
Fair value, end of period	11,742,511	7,884,000
Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30	127,015	$ (97,083)
Equity [Member]
Changes in Fair Value of Level 3 Portfolio Investments [Abstract]
Fair value, beginning of period	0
Purchases	742,826
Accretion of discount and fees (amortization of premium), net	0
PIK interest	0
Proceeds from sales of investments and principal repayments	0
Net realized gain (loss) on investments	0
Net change in unrealized appreciation (depreciation) from investments	(66,826)
Fair value, end of period	676,000
Net change in unrealized appreciation/depreciation on Level 3 investments still held as of September 30	$ (66,826)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended		9 Months Ended
RELATED PARTY TRANSACTIONS (Details)	Sep. 30, 2024 USD ($) qtr	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) qtr	Sep. 30, 2023 USD ($)	Nov. 08, 2024	Dec. 31, 2023 USD ($)
Investment Advisory Agreement [Abstract]
Management fee expenses incurred	$ 253,421	$ 264,565	$ 745,876	$ 760,473
Management fee payable	253,421		253,421			$ 257,121
Income-based incentive fee expenses	0	405,247	328,503	1,051,741
Income-based incentive fee payable	0		0			1,511,253
Capital gains incentive fee expenses	(35,904)	(5,000)	37,465	0
Capital gains incentive fee payable	125,048		125,048			87,583
Common stock purchased				0
IPO [Member]
Investment Advisory Agreement [Abstract]
Common stock purchased			4,500,000
Cost of sales incurred			1,230,000
IPO [Member] \| Subsequent Event [Member]
Investment Advisory Agreement [Abstract]
Percentage of voting stock held					83%
Related Party [Member]
Investment Advisory Agreement [Abstract]
Due to affiliate	$ 51,142		$ 51,142			0
Investment Advisory Agreement [Member]
Investment Advisory Agreement [Abstract]
Percentage of management fee payable			1.75%
Number of recent quarters \| qtr	2		2
Duration of incentive fee payable			quarterly
Percentage payable of Pre-Incentive Fee Net Investment Income	20%		20%
Percentage payable of Pre-Incentive Fee Net Investment Income subject to a preferred return, or "hurdle" per quarter	1.75%		1.75%
Percentage of Pre-Incentive Fee Net Investment Income subject to a preferred return, or "hurdle" per annum	7%		7%
Percentage payable of realized capital gains on a cumulative basis	20%		20%
Payment of related party expenses	$ 499	$ 4,993	$ 499	$ 6,192
Common stock purchased			$ 16,600,000
Investment Advisory Agreement [Member] \| Minimum [Member]
Investment Advisory Agreement [Abstract]
Term for distribution of common stock			6 months
Investment Advisory Agreement [Member] \| Related Party [Member]
Investment Advisory Agreement [Abstract]
Due to affiliate	$ 51,142		$ 51,142			$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES [Abstract]
Outstanding commitments to fund Investments	$ 1,500,000
Unfunded commitments		$ 0

COMMON STOCK, Distributions (De

COMMON STOCK, Distributions (Details) - USD ($)	3 Months Ended				9 Months Ended
COMMON STOCK, Distributions (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
COMMON STOCK [Abstract]
Common stock shares authorized (in shares)	100,000,000				100,000,000		100,000,000
Common stock par value (in dollars per share)	$ 0.01				$ 0.01		$ 0.01
Distributions [Abstract]
Cash dividends paid					$ 4,660,638	$ 3,914,922
Q1-2024 Quarterly Dividend [Member]
Distributions [Abstract]
Declaration date					Mar. 08, 2024
Type					Quarterly
Record date					Mar. 20, 2024
Payment date					Mar. 28, 2024
Per share amount (in dollars per share)			$ 0.25
Cash dividends paid			$ 1,553,736
Q2-2024 Quarterly Dividend [Member]
Distributions [Abstract]
Declaration date					May 09, 2024
Type					Quarterly
Record date					Jun. 20, 2024
Payment date					Jun. 28, 2024
Per share amount (in dollars per share)		$ 0.25
Cash dividends paid		$ 1,553,738
Q3-2024 Quarterly Dividend [Member]
Distributions [Abstract]
Declaration date					Aug. 08, 2024
Type					Quarterly
Record date					Sep. 19, 2024
Payment date					Sep. 27, 2024
Per share amount (in dollars per share)	$ 0.25
Cash dividends paid	$ 1,553,741
Q3-2023 Quarterly Dividend [Member]
Distributions [Abstract]
Declaration date					Aug. 10, 2023
Type					Quarterly
Record date					Sep. 15, 2023
Payment date					Sep. 29, 2023
Per share amount (in dollars per share)				$ 0.23
Cash dividends paid				$ 1,429,374
Q3-2023 Special Dividend [Member]
Distributions [Abstract]
Declaration date					Aug. 10, 2023
Type					Special
Record date					Sep. 15, 2023
Payment date					Sep. 29, 2023
Per share amount (in dollars per share)				$ 0.4
Cash dividends paid				$ 2,485,869

COMMON STOCK, Distribution Rein

COMMON STOCK, Distribution Reinvestment Plan (Details) - shares	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024	Sep. 30, 2023
Q1-2024 Quarterly Dividend [Member]
Distribution Reinvestment Plan [Abstract]
Declaration date				Mar. 08, 2024
Type				Quarterly
Record date				Mar. 20, 2024
Payment date				Mar. 28, 2024
Shares (in shares)			8
Q2-2024 Quarterly Dividend [Member]
Distribution Reinvestment Plan [Abstract]
Declaration date				May 09, 2024
Type				Quarterly
Record date				Jun. 20, 2024
Payment date				Jun. 28, 2024
Shares (in shares)		15
Q3-2024 Quarterly Dividend [Member]
Distribution Reinvestment Plan [Abstract]
Declaration date				Aug. 08, 2024
Type				Quarterly
Record date				Sep. 19, 2024
Payment date				Sep. 27, 2024
Shares (in shares)	31
Q3-2023 Quarterly Dividend [Member]
Distribution Reinvestment Plan [Abstract]
Declaration date				Aug. 10, 2023
Type				Quarterly
Record date				Sep. 15, 2023
Payment date				Sep. 29, 2023
Shares (in shares)					12
Q3-2023 Special Dividend [Member]
Distribution Reinvestment Plan [Abstract]
Declaration date				Aug. 10, 2023
Type				Special
Record date				Sep. 15, 2023
Payment date				Sep. 29, 2023
Shares (in shares)					21

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended		9 Months Ended
EARNINGS PER SHARE (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Increase (Decrease) in Net Assets Per Share [Abstract]
Net increase (decrease) in net assets resulting from operations	$ (165,012)	$ 1,273,882	$ 1,647,660	$ 4,842,366
Weighted Average Shares Outstanding - basic (in shares)	6,214,965	6,214,673	6,214,952	6,214,672
Weighted Average Shares Outstanding - diluted (in shares)	6,214,965	6,214,673	6,214,952	6,214,672
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share)	$ (0.03)	$ 0.2	$ 0.27	$ 0.78
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share)	$ (0.03)	$ 0.2	$ 0.27	$ 0.78

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	6 Months Ended	9 Months Ended		12 Months Ended
INCOME TAXES (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Taxes Summary [Abstract]
Effect of permanent adjustments		$ 0	$ 0
Tax Character of Distributions Paid [Abstract]
Ordinary Income	$ 3,107,479			$ 9,819,273
Total Distributions	3,107,479			9,819,273
Components of Distributable Earnings [Abstract]
Undistributed ordinary income				1,782,017	$ 3,418,714
Net unrealized appreciation (depreciation) from investments	836,007	836,007		1,248,303	713,009	$ 648,683
Capital loss carry forwards				(210,767)	0
Other temporary differences				(3,393,536)
Other temporary differences					(399,948)
Deferred tax liabilities				(573,983)
Deferred tax assets					3,731,775
Aggregate Gross Unrealized Appreciation and Depreciation from Investments and Cash Equivalents for Federal Income Tax Purposes [Abstract]
Tax cost of investments and cash equivalents	85,064,067	85,064,067		86,762,991		86,082,952
Unrealized appreciation	973,473	973,473		1,363,524		784,052
Unrealized depreciation	(137,466)	(137,466)		(115,221)		(135,369)
Net unrealized appreciation (depreciation) from investments and cash equivalents	$ 836,007	836,007		1,248,303	713,009	$ 648,683
Additional Paid-in Capital [Member]
Income Taxes Summary [Abstract]
Effect of permanent adjustments		$ (10,676)	$ 121,099	$ 10,676	$ 121,099

FINANCIAL HIGHLIGHTS (Details)

FINANCIAL HIGHLIGHTS (Details) - USD ($)		9 Months Ended
FINANCIAL HIGHLIGHTS (Details) - USD ($)		Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Per share data [Roll Forward]
Net asset value at beginning of period (in dollars per share)		$ 13.77	$ 13.91
Net investment income (loss) (in dollars per share)	[1]	0.23	0.79
Net realized and unrealized gains/(losses) on investments (in dollars per share)	[1]	0.03	(0.01)
Net increase/(decrease) in net assets resulting from operations (in dollars per share)		0.26	0.78
Distributions from net investment income (loss) (in dollars per share)	[2]	(0.75)	(0.63)
Net asset value at end of period (in dollars per share)		$ 13.28	$ 14.06
Net assets at end of period		$ 82,539,642	$ 87,402,852
Shares outstanding at end of period (in shares)		6,214,995	6,214,705	6,214,941
Weighted average net assets		$ 84,768,322	$ 88,458,750
Per share market value at end of period (in dollars per share)		$ 10.64	$ 9.68
Total return based on market value	[3]	35.15%	(1.22%)
Total return based on net asset value	[3]	3.39%	7.66%
Ratio/Supplemental data [Abstract]
Ratio of expenses to average net assets	[4]	8.92%	3.82%
Ratio of net investment income (loss) to average net assets	[4]	1.72%	5.52%
Portfolio turnover	[4]	7.96%	3%

[1]The per share data was derived by using the weighted average shares outstanding during the periods presented.[2]Management monitors available taxable earnings, including net investment income and realized capital gains, to determine if a tax return of capital may occur for the tax year. To the extent the Company’s taxable earnings fall below the total amount of the Company’s distributions for that tax year, a portion of those distributions may be deemed a tax return of capital to the Company’s stockholders. The ultimate tax character of the Company’s earnings cannot be determined until tax returns are prepared after the end of the tax year. The amounts and sources of distributions reported are only estimates and are not being provided for U.S. tax reporting purposes.[3]Total return based on market value is based on the change in market price per share between the beginning and ending market prices per share in each period and assumes that common stock dividends are reinvested in accordance with our common stock dividend reinvestment plan. Total return based on net asset value is based upon the change in net asset value per share between the beginning and ending net asset values per share in each period and assumes that dividends are reinvested in accordance with our common stock dividend reinvestment plan. For periods less than a year, total return is not annualized.[4]Ratio is not annualized.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)			9 Months Ended		12 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($)		Sep. 28, 2024	Sep. 30, 2024		Dec. 31, 2023
Investments [Abstract]
Transaction fair value			$ 55,788,511		$ 54,120,000
Investment, Identifier [Axis]: Aeriz Holdings Corp.
Investments [Abstract]
PIK coupon rate		2%
Investment, Identifier [Axis]: Aeriz Holdings Corp. First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.00% Spread 6.00% Cash 2.00% PIK Coupon 16.00% Due 6/30/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:AerizHoldingsCorpMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		7%
Spread		6%
PIK interest rate		2%
Coupon rate	[2]	16%
Maturity		Jun. 30, 2025
Principal		$ 10,471,115
Transaction fair value	[3]	$ 10,400,871
Investment, Identifier [Axis]: Archos Capital Group, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 8.50% Spread 5.75% Coupon 14.25% Due 12/31/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ArchosCapitalGroupLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		8.50%
Spread		5.75%
Coupon rate		14.25%
Maturity		Dec. 31, 2024
Principal		$ 1,800,824
Transaction fair value	[3]	$ 1,812,492
Investment, Identifier [Axis]: Ascend Wellness Holdings, Inc. Senior Secured Notes Due 07/16/2029 Fixed Interest Rate 12.75%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[5],[6]		lien:AscendWellnessHoldingsIncMember
Investment, Type [Extensible Enumeration]	[7]		lien:SeniorSecuredNoteMember
Reference rate	[8]		12.75%
Maturity			Jul. 16, 2029
Principal	[9]		$ 3,500,000
Transaction fair value	[10]		3,322,000
Investment, Identifier [Axis]: Aura Home, Inc. First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 4.00% Spread 7.50% Coupon 12.34% Due 9/22/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:AuraHomeIncMember
Investment, Industry Sector [Extensible Enumeration]		lien:ConsumerProductsSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[11]	4.84%
Floor		4%
Spread		7.50%
Coupon rate		12.34%
Maturity		Sep. 22, 2025
Principal		$ 3,325,000
Transaction fair value	[3]	3,275,125
Investment, Identifier [Axis]: CALP Loan Portfolio
Investments [Abstract]
Principal		219,532,543
Transaction fair value	[3]	$ 219,621,125
Prime rate		8%
SOFR rate		4.84%
Investment, Identifier [Axis]: Cash Equivalents
Investments [Abstract]
Transaction fair value	[10]		$ 30,112,000		$ 32,612,000
Investment, Identifier [Axis]: Curaleaf Holdings, Inc. Senior Secured Notes Due 12/15/2026 Fixed Interest Rate 8%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[6]		lien:CuraleafHoldingsIncMember	[5]	lien:CuraleafHoldingsIncMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredNoteMember	[7]	lien:SeniorSecuredNoteMember	[6],[12]
Reference rate	[8]		8%		8%
Maturity			Dec. 15, 2026		Dec. 15, 2026	[6]
Principal	[9]		$ 4,500,000		$ 4,500,000	[6]
Transaction fair value	[10]		4,298,000		$ 4,140,000	[6]
Investment, Identifier [Axis]: Debt Securities
Investments [Abstract]
Transaction fair value	[10]		55,113,000
Investment, Identifier [Axis]: Debt and Equity Securities
Investments [Abstract]
Transaction fair value	[10]		$ 55,789,000
Investment, Identifier [Axis]: Deep Roots Harvest, Inc. First Lien Senior Secured Delayed Draw Term Loan - Unfunded Reference Rate 8.00% Floor 8.00% Spread 6.50% Coupon 14.50% Due 8/15/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:DeepRootsHarvestIncMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanUnfundedMember
Reference rate	[1]	8%
Floor		8%
Spread		6.50%
Coupon rate		14.50%
Maturity		Aug. 15, 2027
Principal		$ 5,000,000
Transaction fair value	[3]	$ 4,850,000
Investment, Identifier [Axis]: Dreamfields Brands, Inc. (Jeeter) First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.50% Spread 8.75% Coupon 16.75% Due 5/3/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:DreamfieldsBrandsIncJeeterMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		7.50%
Spread		8.75%
Coupon rate		16.75%
Maturity		May 03, 2026
Principal		$ 23,550,000
Transaction fair value	[3]	$ 23,865,963
Investment, Identifier [Axis]: Dreamfields Brands, Inc. Senior Secured First Lien Term Loan Due 5/3/2026 Variable Interest Rate Prime Spread 8.75% PRIME Floor 7.5%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[6]		lien:DreamfieldsBrandsIncMember	[5]	lien:DreamfieldsBrandsIncMember
Investment, Type [Extensible Enumeration]	[7]		lien:SeniorSecuredFirstLienTermLoanMember		lien:SeniorSecuredFirstLienTermLoanMember	[6]
Floor	[8]		7.50%		7.50%
Spread	[8]		8.75%		8.75%
Maturity			May 03, 2026		May 03, 2026	[6]
Principal	[9]		$ 4,320,000		$ 4,320,000	[6]
Transaction fair value	[10]		4,320,000		4,320,000	[6]
Investment, Identifier [Axis]: Elevation Cannabis, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 8.50% Spread 7.75% Coupon 16.25% Due 12/31/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ElevationCannabisLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		8.50%
Spread		7.75%
Coupon rate		16.25%
Maturity		Dec. 31, 2026
Principal		$ 14,750,000
Transaction fair value	[3]	$ 14,500,582
Investment, Identifier [Axis]: Equity Securities
Investments [Abstract]
Transaction fair value			676,000
Investment, Identifier [Axis]: Flowery - Bill's Nursery, Inc. First Lien Senior Secured Delayed Draw Term Loan Coupon 11.00% cash 5.00% PIK Due 12/31/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:FloweryBillSNurseryIncMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Coupon rate		11%
PIK coupon rate		5%
Maturity		Dec. 31, 2025
Principal		$ 9,494,063
Transaction fair value	[3]	$ 9,568,960
Investment, Identifier [Axis]: HA-MD, LLC First Lien Senior Secured Term Loan Coupon 15.00% Due 6/6/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HAMDLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Coupon rate		15%
Maturity		Jun. 06, 2026
Principal		$ 3,395,000
Transaction fair value	[3]	$ 3,436,023
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 1/6/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HartfordGoldGroupLLCOneMember, lien:HartfordGoldGroupLLCTwoMember
Investment, Industry Sector [Extensible Enumeration]		lien:PreciousMetalsSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[11]	4.84%
Floor		1.50%
Spread		9.85%
Coupon rate		14.69%
Maturity		Jan. 06, 2027
Principal		$ 1,927,965
Transaction fair value	[3]	$ 1,671,784
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 11/30/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HartfordGoldGroupLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:PreciousMetalsSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[11]	4.84%
Floor		1.50%
Spread		9.85%
Coupon rate		14.69%
Maturity		Nov. 30, 2024
Principal		$ 91,043
Transaction fair value	[3]	$ 92,146
Investment, Identifier [Axis]: Hartford Gold Group, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 1.50% Spread 9.85% Coupon 14.69% Due 12/17/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:HartfordGoldGroupLLCOneMember
Investment, Industry Sector [Extensible Enumeration]		lien:PreciousMetalsSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[11]	4.84%
Floor		1.50%
Spread		9.85%
Coupon rate		14.69%
Maturity		Dec. 17, 2025
Principal		$ 543,132
Transaction fair value	[3]	$ 527,991
Investment, Identifier [Axis]: Investments and Cash Equivalents
Investments [Abstract]
Transaction fair value	[10]		$ 85,901,000		$ 86,732,000
Investment, Identifier [Axis]: Minden Holdings, LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Spread 7.25% Coupon 15.25% Due 5/31/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:MindenHoldingsLLCMember
Investment, Industry Sector [Extensible Enumeration]		Real Estate Services [Member]
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Spread		7.25%
Coupon rate		15.25%
Maturity		May 31, 2026
Principal		$ 3,000,000
Transaction fair value	[3]	$ 3,038,063
Investment, Identifier [Axis]: Nova Farms, LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 6.50% Coupon 15.00% Due 3/28/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:NovaFarmsLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		8.50%
Spread		6.50%
Coupon rate		15%
Maturity		Mar. 28, 2027
Principal		$ 16,050,000
Transaction fair value	[3]	$ 15,017,271
Investment, Identifier [Axis]: Oasis - AZ GOAT AZ LLC First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.00% Spread 7.50% Coupon 15.50% Due 3/31/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:OasisAZGOATAZLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		8%
Spread		7.50%
Coupon rate		15.50%
Maturity		Mar. 31, 2026
Principal		$ 5,400,000
Transaction fair value	[3]	$ 5,388,600
Investment, Identifier [Axis]: PharmaCann, Inc. Senior Secured Loan Due 6/30/2025 Fixed Interest Rate 12%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[6]		lien:PharmaCannIncMember	[5]	lien:PharmaCannIncMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredNoteMember	[7]	lien:SeniorSecuredNoteMember	[6],[12]
Reference rate	[8]		12%		12%
Maturity			Jun. 30, 2025		Jun. 30, 2025	[6]
Principal	[9]		$ 4,250,000		$ 4,250,000	[6]
Transaction fair value	[10]		4,123,000		$ 3,974,000	[6]
Investment, Identifier [Axis]: Proper Holdings, LLC First Lien Senior Secured Delayed Draw Term Loan Coupon 11.00% Cash 2.00% PIK Due 5/30/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ProperHoldingsLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Coupon rate		11%
PIK coupon rate		2%
Maturity		May 30, 2025
Principal		$ 4,544,484
Transaction fair value	[3]	$ 4,592,075
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar)
Investments [Abstract]
PIK coupon rate		3%
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar) First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 1.75% Cash 3.00% PIK Coupon 13.25% Due 11/1/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ProtectAnimalsWithSatellitesLLCHaloCollarMember
Investment, Industry Sector [Extensible Enumeration]		lien:ConsumerProductsSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		8.50%
Spread		1.75%
PIK interest rate		3%
Coupon rate	[13]	13.25%
Maturity		Nov. 01, 2026
Principal		$ 3,687,984
Transaction fair value	[3]	$ 3,450,749
Investment, Identifier [Axis]: Protect Animals With Satellites LLC (Halo Collar) Incremental First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.50% Spread 1.75% Cash 3.00% PIK Coupon 13.25% Due 11/1/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:ProtectAnimalsWithSatellitesLLCHaloCollarOneMember
Investment, Industry Sector [Extensible Enumeration]		lien:ConsumerProductsSectorMember
Investment, Type [Extensible Enumeration]		lien:IncrementalFirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		8.50%
Spread		1.75%
PIK interest rate		3%
Coupon rate	[13]	13.25%
Maturity		Nov. 01, 2026
Principal		$ 2,000,000
Transaction fair value	[3]	$ 1,870,611
Investment, Identifier [Axis]: RTCP, LLC (f/k/a RevTek Capital, LLC) First Lien Senior Secured Note Coupon 15.00% Due 10/2/2028
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:RTCPLLCFKARevTekCapitalLLCMember
Investment, Industry Sector [Extensible Enumeration]		us-gaap:FinancialServicesSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredNoteMember
Coupon rate		15%
Maturity		Oct. 02, 2028
Principal		$ 22,000,000
Transaction fair value	[3]	$ 22,265,833
Investment, Identifier [Axis]: Real Estate Services, Debt Securities
Investments [Abstract]
Principal	[9]		1,352,000
Transaction fair value	[10]		1,260,000
Investment, Identifier [Axis]: Real Estate Services, Equity Securities
Investments [Abstract]
Transaction fair value			$ 676,000
Investment, Identifier [Axis]: Remedy - Maryland Wellness, LLC
Investments [Abstract]
PIK coupon rate		3.50%
Investment, Identifier [Axis]: Remedy - Maryland Wellness, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 5.00% Spread 7.50% Cash 3.50% PIK Coupon 19.00% Due 8/4/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:RemedyMarylandWellnessLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		5%
Spread		7.50%
PIK interest rate		3.50%
Coupon rate	[14]	19%
Maturity		Aug. 04, 2025
Principal		$ 3,243,569
Transaction fair value	[3]	$ 3,213,431
Investment, Identifier [Axis]: STIIIZY, Inc.
Investments [Abstract]
PIK coupon rate		1%
Investment, Identifier [Axis]: STIIIZY, Inc. (f/k/a Shryne Group Inc.) First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 4.00% Spread 8.50% Cash 1.00% PIK Coupon 17.50% Due 5/22/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:STIIIZYIncFKAShryneGroupIncMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		4%
Spread		8.50%
PIK interest rate		1%
Coupon rate	[15]	17.50%
Maturity	[16]	May 26, 2026
Principal		$ 13,781,063
Transaction fair value	[3]	$ 14,310,218
Investment, Identifier [Axis]: STIIIZY, Inc. Senior Secured First Lien Term Loan Due 5/26/2026 Variable Interest Rate Prime Spread 8.5% Prime Floor 4.0% PIK 1.0%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[6]		lien:ShryneGroupIncMember	[5]	lien:ShryneGroupIncMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredFirstLienTermLoanMember	[7]	lien:SeniorSecuredFirstLienTermLoanMember	[6],[12]
Floor	[8]		4%		4%
Spread	[8]		8.50%	[17]	8.50%	[18]
PIK interest rate	[8]		1%		1%
Maturity			May 26, 2027		May 26, 2026	[6]
Principal	[9]		$ 20,066,000		$ 21,065,000	[6]
Transaction fair value	[10]		19,865,000		20,749,000	[6]
Investment, Identifier [Axis]: SimSpace Corp. First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 8.25% Spread 10.00% Coupon 18.50% Due 11/1/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:SimSpaceCorpMember
Investment, Industry Sector [Extensible Enumeration]		us-gaap:TechnologySectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		8.25%
Spread		10%
Coupon rate		18.50%
Maturity		Nov. 01, 2025
Principal		$ 6,775,077
Transaction fair value	[3]	$ 6,977,670
Investment, Identifier [Axis]: State Street Institutional U.S. Government Money Market Fund
Investments [Abstract]
Transaction fair value	[10]		$ 30,112,000	[19]	$ 32,612,000
Investment, Identifier [Axis]: Story of Maryland, LLC
Investments [Abstract]
PIK coupon rate		2%
Investment, Identifier [Axis]: Story of Maryland, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 3.25% Spread 8.75% Cash 2.00% PIK Coupon 18.75% Due 10/4/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:StoryOfMarylandLLCMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		3.25%
Spread		8.75%
PIK interest rate		2%
Coupon rate	[20]	18.75%
Maturity		Oct. 04, 2024
Principal		$ 9,000,000
Transaction fair value	[3]	$ 9,072,188
Investment, Identifier [Axis]: Subsero Holdings - Illinois, Inc.
Investments [Abstract]
PIK coupon rate		2%
Investment, Identifier [Axis]: Subsero Holdings - Illinois, Inc. First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 7.00% Spread 7.00% Cash 2.00% PIK Coupon 17.00% Due 7/29/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:SubseroHoldingsIllinoisIncMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		7%
Spread		7%
PIK interest rate		2%
Coupon rate	[21]	17%
Maturity		Jul. 29, 2026
Principal		$ 2,996,239
Transaction fair value	[3]	$ 2,942,693
Investment, Identifier [Axis]: Sunny Days Enterprises, LLC
Investments [Abstract]
PIK coupon rate		8%
Investment, Identifier [Axis]: Sunny Days Enterprises, LLC First Lien Senior Secured Delayed Draw Term Loan Reference Rate 8.00% Floor 3.50% Spread 4.75% Cash 8.00% PIK Coupon 20.75% Due 3/31/2025
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:SunnyDaysEnterprisesLLCMember
Investment, Industry Sector [Extensible Enumeration]		us-gaap:HealthcareSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredDelayedDrawTermLoanMember
Reference rate	[1]	8%
Floor		3.50%
Spread		4.75%
PIK interest rate		8%
Coupon rate	[22]	20.75%
Maturity		Mar. 31, 2025
Principal		$ 2,871,079
Transaction fair value	[3]	$ 2,948,937
Investment, Identifier [Axis]: Verano Holdings Corp. First Lien Senior Secured Term Loan Reference Rate 8.00% Floor 6.25% Spread 6.50% Coupon 14.50% Due 10/30/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:VeranoHoldingsCorpMember
Investment, Industry Sector [Extensible Enumeration]		lien:CannabisSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[1]	8%
Floor		6.25%
Spread		6.50%
Coupon rate		14.50%
Maturity		Oct. 30, 2026
Principal		$ 34,245,350
Transaction fair value	[3]	$ 34,994,818
Investment, Identifier [Axis]: Verano Holdings Corp. Senior Secured First Lien Term Loan Due 10/30/2026 Variable Interest Rate Prime Spread 6.5% Prime Floor 6.25%
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[6]		lien:VeranoHoldingsCorpMember	[5]	lien:VeranoHoldingsCorpMember
Investment, Type [Extensible Enumeration]			lien:SeniorSecuredFirstLienTermLoanMember	[7]	lien:SeniorSecuredFirstLienTermLoanMember	[6],[12]
Floor	[8]		6.25%		6.25%
Spread	[8]		6.50%	[17]	6.50%	[18]
Maturity			Oct. 30, 2026		Oct. 30, 2026	[6]
Principal	[9]		$ 17,748,000		$ 20,937,000	[6]
Transaction fair value	[10]		17,925,000		20,937,000	[6]
Investment, Identifier [Axis]: West Creek Financial Holdings, Inc. d/b/a Koalafi
Investments [Abstract]
PIK coupon rate		5%
Investment, Identifier [Axis]: West Creek Financial Holdings, Inc. d/b/a Koalafi Series A Senior Note Spread 13.80% Cash 5.00% PIK Due 11/29/2027
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:WestCreekFinancialHoldingsIncDBAKoalafiMember
Investment, Industry Sector [Extensible Enumeration]		lien:ConsumerServicesSectorMember
Investment, Type [Extensible Enumeration]		lien:SeriesASeniorNoteMember
Coupon rate	[23]	13.80%
PIK coupon rate	[23]	5%
Maturity		Nov. 29, 2027
Principal		$ 5,081,746
Transaction fair value	[3]	$ 5,133,298
Investment, Identifier [Axis]: Wholesale Trade Debt Securities
Investments [Abstract]
Principal	[9]		54,384,000		55,072,000
Transaction fair value	[10]		$ 53,853,000		$ 54,120,000
Investment, Identifier [Axis]: Workbox Holdings, Inc. Senior Secured First Lien Term Loan Due 5/31/2029 Fixed Interest Rate 6.0% PIK 6.0% Invested on 05/20/2024
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[5],[6]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]	[7]		lien:SeniorSecuredFirstLienTermLoanMember
Reference rate	[8]		6%
PIK interest rate	[8]		6%
Maturity			May 31, 2029
Principal	[9]		$ 1,352,000
Transaction fair value	[10]		$ 1,260,000
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-1 Preferred Shares
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[5],[6]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]			us-gaap:EquityMember
Transaction fair value			$ 500,000
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-3 Preferred Stock Warrant
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[5],[6]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]			lien:WarrantsA3Member
Transaction fair value			$ 71,000
Investment, Identifier [Axis]: Workbox Holdings, Inc. Series A-4 Preferred Stock Warrant
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]	[4],[5],[6]		lien:WorkboxHoldingsIncMember
Investment, Type [Extensible Enumeration]			lien:WarrantsA4Member
Transaction fair value			$ 105,000
Investment, Identifier [Axis]: Youth Opportunity Investments, LLC First Lien Senior Secured Term Loan Reference Rate 4.84% Floor 4.00% Spread 7.75% Coupon 12.59% Due 9/18/2026
Investments [Abstract]
Investment, Issuer Name [Extensible Enumeration]		lien:YouthOpportunityInvestmentsLLCMember
Investment, Industry Sector [Extensible Enumeration]		us-gaap:HealthcareSectorMember
Investment, Type [Extensible Enumeration]		lien:FirstLienSeniorSecuredTermLoanMember
Reference rate	[11]	4.84%
Floor		4%
Spread		7.75%
Coupon rate		12.59%
Maturity		Sep. 18, 2026
Principal		$ 10,507,813
Transaction fair value	[3]	$ 10,402,734

[1]Reference Rate and Total Coupon for floating rate loans are based on the market Prime Rate of 8.00% as of September 28, 2024.[2]Total Coupon for Aeriz Holdings Corp. includes 2.00% PIK.[3]Transaction Fair Value represents the fair value, as of September 28, 2024, determined by the Company for such investment for purposes of the Loan Portfolio Acquisition. For each investment, Transaction Fair Value includes fair value and accrued but unpaid interest (including uncapitalized payment-in-kind interest) through September 28, 2024, for such investment (if any).[4]All portfolio companies are located in the United States, as determined by the location of the portfolio company’s headquarters.[5]As of September 30, 2024, the Company had the following commitment to fund a senior secured loan. Such commitment is subject to the satisfaction of certain conditions set forth in the documents governing the loan and there can be no assurance that such conditions will be satisfied.[6]The Company uses the North American Industry Classification System (“NAICS”) code for classifying the industry grouping of its portfolio companies.[7]No debt investment is non-income producing as of September 30, 2024. All equity and warrant investments are non-income producing as of September 30, 2024 unless otherwise noted.[8]Interest rate is the fixed or variable rate of the debt investments.[9]Principal is net of repayments, if any, as per the terms of the debt instrument’s contract.[10]All investments were valued at fair value. See Note 4 — Fair Value of Financial Instruments in the accompanying notes to the financial statements.[11]Reference Rate and Total Coupon for floating rate loans are based on the market SOFR of 4.84% as of September 28, 2024.[12]No debt investment is non-income producing as of December 31, 2023.[13]Total Coupon for Protect Animals With Satellites LLC (Halo Collar) includes 3.00% PIK.[14]Total Coupon for Remedy – Maryland Wellness, LLC includes 3.50% PIK[15]Total Coupon for STIIIZY, Inc. includes 1.00% PIK.[16]STIIIZY, Inc. maturity date was amended to 5/26/2027 on September 30, 2024.[17]As of September 30, 2024 PRIME is 8.00%.[18]As of December 31, 2023 PRIME is 8.50%.[19]The annualized seven-day yield as of September 30, 2024 is 4.94%.[20]Total Coupon for Story of Maryland, LLC includes 2.00% PIK.[21]Total Coupon for Subsero Holdings – Illinois, Inc. includes 2.00% PIK.[22]Total Coupon for Sunny Days Enterprises, LLC includes 8.00% PIK.[23]Total Coupon for West Creek Financial Holdings, Inc. includes 5.00

SUBSEQUENT EVENTS, Loan Portfol

SUBSEQUENT EVENTS, Loan Portfolio Acquisition and Distributions (Details) - USD ($)	Oct. 04, 2024	Oct. 01, 2024	Sep. 28, 2024	Nov. 04, 2024	Oct. 23, 2024	Oct. 11, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Loan Portfolio Acquisition [Abstract]
Common stock outstanding (in shares)							6,214,995	6,214,941	6,214,705
Loan Portfolio Acquisition Agreement [Member]
Loan Portfolio Acquisition [Abstract]
Fair value of loan portfolio			$ 219,621,125
Subsequent Event [Member]
Loan Portfolio Acquisition [Abstract]
Exit of debt investment	$ 9,010,000
Additional investment				$ 3,000,000	$ 5,000,000	$ 6,820,000
Net consideration				$ 2,970,000	$ 4,860,000	$ 6,680,000
Subsequent Event [Member] \| Loan Portfolio Acquisition Agreement [Member]
Loan Portfolio Acquisition [Abstract]
Number of shares issued in exchange of loan portfolio (in shares)		16,605,372
Common stock outstanding (in shares)		22,820,367