Investments (Tables)

9 Months Ended

Sep. 30, 2017

Investments Debt And Equity Securities [Abstract]

Schedule of Investments

As of September 30, 2017, the Company’s investments consisted of the following: 

					Percentage
	Amortized Cost		Fair Value		of Total Investments
Senior secured term loans	$	62,845,636	$	62,845,636		20.2	%
Senior secured term loan participations		105,081,088		105,081,088		33.6	%
Senior secured trade finance participations		119,496,989		119,437,912		38.2	%
Short term notes		25,000,000		25,000,000		8.0	%
Total investments	$	312,423,713	$	312,364,636		100.0	%

As of December 31, 2016, the Company’s investments consisted of the following:

					Percentage
	Amortized Cost		Fair Value		of Total Investments
Senior secured term loans	$	28,673,487	$	28,673,487		14.1	%
Senior secured term loan participations		58,450,761		58,450,761		28.7	%
Senior secured trade finance participations		116,730,642		116,671,565		57.2	%
Total investments	$	203,854,890	$	203,795,813		100.0	%

Components of Investment Portfolio, Fair Value

The industry composition of the Company’s portfolio, at fair market value as of September 30, 2017 and December 31, 2016, was as follows:

	As of  September 30, 2017					As of December 31, 2016
	Fair		Percentage			Fair		Percentage
Industry	Value		of Total			Value		of Total
Agricultural Products	$	20,351,296		6.4	%	$	22,851,296		11.2	%
Bulk Fuel Stations and Terminals		16,259,084		5.2	%		15,437,474		7.6	%
Chemicals and Allied Products		15,000,000		4.8	%		—		—
Coal and Other Minerals and Ores		30,933,254		9.9	%		6,574,351		3.2	%
Commercial Fishing		437,814		0.1	%		1,058,273		0.5	%
Communications Equipment		—		0.0	%		6,111,941		3.0	%
Consumer Products		11,080,000		3.5	%		9,900,000		4.9	%
Drugs, Proprietaries, and Sundries		1,080,000		0.3	%		—		—
Electric Services		11,500,000		3.7	%		19,500,000		9.6	%
Farm Products		2,780,194		0.9	%		3,142,480		1.5	%
Fats and Oils		12,000,000		3.8	%		6,000,000		2.9	%
Fertilizer & Agricultural Chemicals		—		0.0	%		5,078,526		2.5	%
Financial services		10,000,000		3.2	%		—		—
Freight Transportation Arrangement		15,000,000		4.8	%		—		—
Fresh or Frozen Packaged Fish		2,087,005		0.7	%		5,037,134		2.5	%
Food Products		1,236,274		0.4	%		740,690		0.4	%
Groceries and Related Products		1,476,825		0.5	%		11,195,862		5.5	%
Hotels and Motels		15,667,791		5.0	%		17,000,000		8.3	%
Land Subdividers and Developers		14,874,108		4.8	%		—		—
Logging		3,700,000		1.2	%		—		—
Lumber and Other Construction Materials		—		0.0	%		11,483		0.0	%
Meat, Poultry & Fish		9,000,000		2.9	%		9,675,717		4.7	%
Metals & Mining		6,566,481		2.1	%		2,234,145		1.1	%
Miscellaneous Plastics Products		—		0.0	%		161,018		0.1	%
Packaged Foods & Meats		500,000		0.2	%		500,000		0.2	%
Personal Credit Institutions		1,479,786		0.5	%		—		—
Petroleum and Petroleum Products		30,500,000		9.8	%		—		—
Primary Nonferrous Metals		2,372,297		0.8	%		3,000,000		1.5	%
Primary Metal Industries		6,000,000		1.9	%		6,000,000		2.9	%
Programming and Data Processing		14,034,469		4.5	%		10,236,013		5.0	%
Rental of Railroad Cars		3,513,291		1.1	%		4,411,650		2.2	%
Secondary Nonferrous Metals		17,349,626		5.6	%		7,649,945		3.8	%
Soap, Detergents, and Cleaning		1,511,446		0.5	%		2,000,000		1.0	%
Street Construction		12,218,917		3.9	%		14,927,195		7.3	%
Telephone and Telegraph Apparatus		8,322,775		2.7	%		—		—
Water Transportation		13,531,903		4.3	%		13,360,620		6.6	%
Total	$	312,364,636		100.0	%	$	203,795,813		100.0	%

Schedule of Investment by Geographical Classification

The table below shows the portfolio composition by geographic classification at fair value as of September 30, 2017 and December 31, 2016:

	As of  September 30, 2017					As of December 31, 2016
	Fair		Percentage			Fair		Percentage
Country	Value		of Total			Value		of Total
Argentina	$	39,500,000		12.7	%	$	31,000,000		15.2	%
Brazil		16,885,765		5.4	%		13,087,309		6.4	%
Cabo Verde		15,667,791		5.0	%		17,000,000		8.3	%
Cayman Islands		10,000,000		3.2	%		—		—
Chile		1,326,687		0.4	%		2,234,915		1.1	%
China		10,000,000		3.2	%		—		—
Columbia		1,479,786		0.5	%		—		—
Ecuador		2,524,819		0.8	%		6,095,407		3.0	%
Ghana		27,000,000		8.6	%		19,500,000		9.6	%
Guatemala		907,565		0.3	%		907,565		0.4	%
Hong Kong		36,922,775		11.8	%		—		—
Indonesia		19,923,550		6.4	%		17,927,195		8.8	%
Kenya		15,000,000		4.8	%		161,018		0.1	%
Malaysia		15,000,000		4.8	%		—		—
Mauritius		6,476,825		2.1	%		11,195,862		5.5	%
Morocco		7,349,626		2.4	%		7,649,945		3.8	%
Namibia		15,374,108		4.9	%		500,000		0.2	%
New Zealand		3,700,000		1.2	%		—		—
Nigeria		13,531,903		4.3	%		13,360,620		6.6	%
Peru		21,339,084		6.8	%		19,337,474		9.5	%
Singapore		-		—			10,000,000		4.9	%
South Africa		5,474,165		1.8	%		14,174,143		7.0	%
United Arab Emirates		1,080,000		0.4	%		—		—
United Kingdom		17,333,254		5.6	%		6,585,834		3.2	%
Zambia		7,511,446		2.4	%		13,078,526		6.4	%
Uganda		545,942		0.2	%		—		—
Uruguay		509,545		0.2	%		—		—
Total	$	312,364,636		100.0	%	$	203,795,813		100.0	%