Interest Receivable (Tables)

12 Months Ended

Dec. 31, 2023

Interest Receivable [Abstract]

Schedule of Summarizes the Interest Receivable

The following table summarizes the interest receivable by the Company as of December 31, 2023 and 2022:

	As of December 31, 2023		As of December 31, 2022
Interest receivable	$	973,140	$	1,203,330
Unused fees receivable		31,000		1,082
Total interest receivable	$	1,004,140	$	1,204,412

Schedule of Aging Analyses of Past Due Loans (Including Non-Accrual Loans)

The following table presents aging analyses of past due loans (including non-accrual loans) by class as of December 31, 2023 and 2022, respectively:

	As of December 31, 2023
	Current Loans		31-60 Days Past Due		61-90 Days Past Due		90+ Days Past Due (and accruing)		Total Past Due		Total Loans		Non- Accrual(1)(2)
Interest receivable	$	838,537	$	62,189	$	66,335	$	37,079	$	165,603	$	1,004,140	$	165,603
Total	$	838,537	$	62,189	$	66,335	$	37,079	$	165,603	$	1,004,140	$	165,603

	As of December 31, 2022
	Current Loans		31-60 Days Past Due		61-90 Days Past Due		90+ Days Past Due (and accruing)		Total Past Due		Total Loans		Non- Accrual
Interest receivable	$	1,203,088	$	1,324	$	-	$	-	$	1,324	$	1,204,412	$	-
Total	$	1,203,088	$	1,324	$	-	$	-	$	1,324	$	1,204,412	$	-

(1)On May 1, 2023, Loan #9 was placed on non-accrual status with an outstanding principal amount of approximately $16.4 million. For the period from May 1, 2023, through December 31, 2023, the Company ceased the accrual and recognition of all interest. As of December 31, 2023, Loan #9 has principal greater than 90 days past due, however there is $0 of accrued interest receivable relating to Loan #9.

(2)On December 1, 2023, Loan #6 was placed on non-accrual status with an outstanding principal amount of approximately $4.3 million. As of December 31, 2023 there is approximately $0.2 million of accrued interest receivable relating to Loan #6. In March 2024, Loan #6 was amended brought to current status, and is no longer on non-accrual.