Derivatives (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Terms of Derivative Financial Instrument

The following table summarizes the terms of the Company’s derivative financial instrument:

	Notional Amount							Effective	Maturity
Product	December 31, 2023		December 31, 2022		Strike			Date	Date
Cap Agreement	$	7,500,000	$	7,500,000		3.75	%	12/20/2021	7/6/2024

The Company is potentially exposed to credit loss in the event of non-performance by the counterparty. The Company does not anticipate the counterparty to fail to meet its obligations as they become due.