Annual report pursuant to Section 13 and 15(d)

Line of Credit and Mortgage Payable (Details)

v3.22.1
Line of Credit and Mortgage Payable (Details) - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Jul. 21, 2021
Number of unsecured unsubordinated notes 4    
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 $ 5,747,387 $ 4,866,058  
Long-term Line of Credit $ 33,178,031 $ 28,055,648  
Interest rate 4.25%    
Amortization period 20 years    
Spread on variable rate 1.75% 1.50%  
Amount borrowed under the facility $ 19,087,189    
Additional availability 6,300,000    
Unpaid principal balance 37,900,000    
Value of East Main Street Property $ 1,400,000    
Interest accrued period 72 months    
Term of Federal Home Loan Bank of Boston Classic Advance Rate 5 years    
Period for which only interest is payable 12 months    
Notes      
Aggregate amount outstanding $ 160,529,363    
Debt Issuance Costs, Net 5,747,387    
June 2024 Notes      
Aggregate amount outstanding $ 23,663,000    
Notes issued denomination $ 25.00    
Interest rate 7.125%    
December 2024 Notes      
Aggregate amount outstanding $ 34,500,000    
Interest rate 6.875%    
December 2025 Notes      
Aggregate amount outstanding $ 56,363,750    
Notes issued denomination $ 24.75    
Aggregate principal amount $ 28,000,000    
Interest rate 7.75%    
New Haven Mortgage      
Aggregate principal amount $ 1,400,000    
Amount outstanding $ 750,000    
Interest rate 3.75%    
Spread on variable rate 2.60%    
Number of first line mortgage loans 750,000    
Master Repurchase agreement      
Threshold asset coverage ratio 150.00%    
Percentage amount of repurchase obligation of unencumbered cash and cash equivalents 2.50%    
Debt Instrument, Repurchased Face Amount     $ 200,000,000
Interest rate     0.25%
Term of debt 180 days    
Minimum      
Term of debt 1 year    
Minimum | Master Repurchase agreement      
Interest rate 3.00%    
Maximum      
Term of debt 3 years    
Maximum | Master Repurchase agreement      
Interest rate 4.00%