Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt - Lafayette Square (Details)

v3.23.3
Long-Term Debt - Lafayette Square (Details)
9 Months Ended
Oct. 03, 2023
USD ($)
Jun. 01, 2023
Jul. 28, 2022
USD ($)
Dec. 03, 2021
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
Long-Term Debt              
Additional deferred financing costs         $ 442,181 $ 525,295  
Deferred financing costs         1,722,716   $ 2,115,161
Accrued interest         11,138   13,524
Delayed Draw Term Loan | Subsequent Event              
Long-Term Debt              
Face amount $ 3,587,274.03            
Proceeds from lines of credit $ 3,600,000            
Lafayette Square | SOFR | Interest period of one month              
Long-Term Debt              
Basis spread agreed (as a percent)   0.10%          
Lafayette Square | SOFR | Interest period of three months              
Long-Term Debt              
Basis spread agreed (as a percent)   0.15%          
Lafayette Square | SOFR | Interest period of six months              
Long-Term Debt              
Basis spread agreed (as a percent)   0.25%          
Lafayette Square | 2021 Credit Facility              
Long-Term Debt              
Borrowing capacity       $ 32,000,000      
Applicable impact discount       0.05%      
Outstanding borrowings         25,192,500    
Additional deferred financing costs         15,567 $ 520,682  
Deferred financing costs         1,722,716   2,115,161
Accrued interest         $ 0   $ 0
Quarterly maximum net leverage ratio         3.50    
Quarterly minimum fixed coverage ratio         1.50    
Lafayette Square | 2021 Credit Facility | London Interbank Offered Rate (LIBOR) | Consolidated Total Net Leverage Ratio is Less Than 2              
Long-Term Debt              
Spread on variable rate       6.50%      
Lafayette Square | 2021 Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum | Consolidated Total Net Leverage Ratio is Greater Than 4              
Long-Term Debt              
Spread on variable rate       9.00%      
Lafayette Square | Closing Date Term Loan              
Long-Term Debt              
Borrowing capacity       $ 22,000,000      
Lafayette Square | Delayed Draw Term Loan              
Long-Term Debt              
Borrowing capacity       $ 10,000,000      
Amount of proceeds     $ 4,260,000        
Lafayette Square | Delayed Draw Term Loan | December 31, 2022 through December 31, 2023              
Long-Term Debt              
Installment payments     26,250        
Lafayette Square | Delayed Draw Term Loan | March 31, 2024 through December 3, 2026              
Long-Term Debt              
Installment payments     $ 52,500