Notes Payable (Details) |
9 Months Ended | |||
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Sep. 30, 2020
USD ($)
loan
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Dec. 31, 2019
USD ($)
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Nov. 30, 2019
USD ($)
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Jun. 30, 2019
USD ($)
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Number of unsecured unsubordinated notes | loan | 3 | |||
Outstanding principal balance | $ 72,526,750 | |||
Aggregate amount outstanding | $ 69,452,636 | $ 55,475,810 | ||
Threshold percentage of taxable income to prohibit distribution | 90.00% | |||
Threshold asset coverage ratio | 150.00% | |||
Period of written notice to redeem notes without premium or penalty | 30 days | |||
Debt Issuance Costs, Net | $ 3,074,115 | 2,687,190 | ||
Unsecured subordinated notes | ||||
Debt Issuance Costs, Net | 3,600,000 | $ 2,700,000 | ||
June 2024 Notes | ||||
Aggregate Principal amount issued | $ 23,663,000 | |||
Interest rate | 7.125% | |||
December 2024 Notes | ||||
Aggregate Principal amount issued | $ 34,500,000 | |||
Interest rate | 6.875% | |||
September 2025 Notes | ||||
Aggregate Principal amount issued | $ 14,363,750 | |||
Interest rate | 7.75% |
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- Definition The number of series of unsecured unsubordinated Notes issued and outstanding during the period. No definition available.
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- Definition Period of written notice to redeem notes without premium or penalty. No definition available.
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- Definition Threshold asset coverage ratio. No definition available.
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- Definition Threshold percentage of taxable income to prohibit distribution. No definition available.
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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