Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest income:
Commercial mortgage loans held-for-investment	$ 106,821,510	$ 56,610,324
Cash and cash equivalents	2,372,488	74,676
Interest expense:
Collateralized loan obligations	(71,041,861)	(29,055,324)
Secured term loan	(3,759,141)	(3,754,872)
Net interest income	34,392,996	23,874,804
Expenses:
Management and incentive fees	4,335,904	4,197,819
General and administrative expenses	3,620,589	3,467,653
Operating expenses reimbursable to Manager	1,897,699	2,116,636
Other operating expenses	2,158,488	309,797
Compensation expense	241,194	240,980
Total expenses	12,253,874	10,332,885
Other income (loss):
Provision for credit losses	(2,524,216)	(4,258,668)
Change in unrealized gain (loss) on mortgage servicing rights	(103,684)	243,659
Servicing income, net	208,997	347,838
Total other (loss)	(2,418,903)	(3,667,171)
Net income before provision for income taxes	19,720,219	9,874,748
(Provision for) income taxes	(5,723)	(11,088)
Net income	19,714,496	9,863,660
Dividends to preferred stockholders	(4,740,000)	(4,740,000)
Net income attributable to common stockholders (basic and diluted)	14,974,496	5,123,660
Earnings per share:
Net income attributable to common stockholders (basic)	14,974,496	5,123,660
Net income attributable to common stockholders (diluted)	$ 14,974,496	$ 5,123,660
Weighted average number of shares of common stock outstanding (in shares)	52,231,296	48,342,347
Basic income per share (in dollars per share)	$ 0.29	$ 0.11
Diluted income per share (in dollars per share)	0.29	0.11
Dividends declared per weighted average share of common stock (in dollars per share)	$ 0.26	$ 0.24