Note 7 - Notes Payable

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Debt Disclosure [Text Block]

Note 7. Notes Payable

The Company notes payable consist of the following:

	December 31, 2023		December 31, 2022
	Outstanding Balance		Outstanding Balance
BlueOrchard facility	$	—	$	9,000,000
DEG facility		—		9,000,000
Less: Unamortized debt issuance costs		—		(1,014,909	)
Total notes payable	$	—	$	16,985,091

DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH ("DEG") facility

On November 22, 2022, TGIFC entered into a $25 million Facility Agreement (the “Facility Agreement”) with DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH (“DEG”) as Lender. This leverage facility was fully repaid on August 31, 2023. For the years ended December 31, 2023 and 2022, the Company recognized approximately $454,000 and $39,000, respectively, in interest expense.

Blueorchard Microfinance Fund ("BlueOrchard") facility

On November 22, 2022, TGIFC entered into a $25 million Facility Agreement (the “Facility Agreement”) with Blueorchard Microfinance Fund ("BlueOrchard") as Lender. This leverage facility was fully repaid on August 31, 2023. For the years ended December 31, 2023 and 2022, the Company recognized approximately $418,000 and $39,000, respectively, in interest expense.