v3.25.3
Statement of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net increase (decrease) in net assets resulting from operations $ 25,032,683 $ 1,647,660
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:    
Net change in unrealized (appreciation) depreciation from investments (228,534) (187,324)
Net (accretion of discounts) and amortization of premiums (2,105,692) (501,303)
Purchase of investments (124,909,502) (5,141,250)
PIK interest capitalized (1,499,341) (182,634)
Proceeds from sales of investments and principal repayments 92,590,985 4,344,000
Amortization of deferred financing costs 426,745 0
(Increase) Decrease in operating assets:    
Interest receivable (71,031) 119,417
Receivable for investment sold 4,122,500 0
Due from affiliates 1,691,266 0
Prepaid expenses and other assets 27,742 (64,278)
Other receivable 0 (401,313)
Paydown receivable 0 (21,000)
Increase (Decrease) in operating liabilities:    
Income-based incentive fees payable 348,529 (1,511,253)
Management fee payable 641,483 (3,700)
Capital gains incentive fees payable 45,707 37,465
Professional fees payable 18,285 (12,784)
Transaction fees payable related to the Loan Portfolio Acquisition (2,945,125) 4,084,285
Other payables 134,392 10,474
Due to affiliates 80,753 51,142
Excise tax payable (88,709) (10,655)
Unearned interest income (22,253) 42,550
Payable for investments purchased 0 0
Net cash provided by (used in) operating activities (6,709,117) 2,299,499
Cash flows from financing activities    
Offering costs paid (1,090,931) (138,933)
Distributions paid (15,515,682) (4,660,638)
Financing costs paid (1,154,310) 0
Proceeds from borrowings on revolving line of credit 11,000,000 0
Net cash provided by (used in) financing activities (6,760,923) (4,799,571)
Net increase (decrease) in cash and cash equivalents (13,470,040) (2,500,072)
Cash and cash equivalents, beginning of period 23,932,406 32,611,635
Cash and cash equivalents, end of period 10,462,366 30,111,563
Supplemental disclosures    
Excise taxes paid 115,357 0
Non-cash operating, financing and investing activity    
Reinvestment of dividend distribution 2,189 579
Accrual for deferred financing costs (Note 2) 1,106,429 41,061
Accrual for deferred offering costs (Note 2) $ 101,286 $ 1,127,739