Rand Capital (RAND) 10-K 5 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 05, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	RAND
Entity Registrant Name	Rand Capital Corporation
Entity Well-known Seasoned Issuer	No
Entity Central Index Key	0000081955
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Public Float			$ 10,780,000
Entity Common Stock, Shares Outstanding		2,581,021
Title of 12(b) Security	Common Stock, $0.10 par value
Security Exchange Name	NASDAQ
Entity File Number	814-00235
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	16-0961359
Entity Address, Address Line One	1405 Rand Building
Entity Address, City or Town	Buffalo
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14203
ICFR Auditor Attestation Flag	false
City Area Code	716
Local Phone Number	853-0802
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	317
Auditor Location	Buffalo, New York
Auditor Name	Freed Maxick CPAs, P.C.
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Corporation’s definitive proxy statement for the 2024 Annual Meeting of Shareholders are incorporated by reference into Part III of this report.

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Total Investments at Fair Value	$ 77,125,712	$ 61,504,259
Cash	3,295,321	1,368,996
Interest receivable	244,600	208,338
Prepaid income taxes	127,869	76,396
Deferred tax asset, net	39,179	28,160
Other assets	189,301	295,043
Total assets	81,021,982	63,481,192
Liabilities:
Due to investment adviser	$ 979,297	$ 562,221
Other Liability, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Accounts payable and accrued expenses	$ 145,516	$ 66,680
Line of credit (see Note 5)	16,250,000	2,550,000
Capital gains incentive fees	2,279,700	2,167,000
Deferred revenue	552,256	413,971
Total liabilities	20,206,769	5,759,872
Commitments and contingencies (See Note 7)
Stockholders' equity (net assets):
Common stock, $0.10 par; shares authorized 100,000,000; shares issued: 2,648,916; shares outstanding: 2,581,021 at 12/31/23 and 12/31/22	264,892	264,892
Capital in excess of par value	55,801,170	51,464,267
Treasury stock, at cost: 67,895 shares	(1,566,605)	(1,566,605)
Total distributable earnings	6,315,756	7,558,766
Total stockholders' equity (net assets) (per share - 2023: $23.53, 2022: $22.36)	60,815,213	57,721,320
Total liabilities and stockholders' equity (net assets)	81,021,982	63,481,192
Control Investments
ASSETS
Total Investments at Fair Value	4,148,960	3,536,207
Affiliate Investments
ASSETS
Total Investments at Fair Value	53,499,372	38,241,589
Non-Control/Non-Affiliate Investments
ASSETS
Total Investments at Fair Value	$ 19,477,380	$ 19,726,463

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - USD ($)		Dec. 31, 2023	Dec. 31, 2022
Investment at Cost		$ 68,365,606	$ 55,716,237
Common shares, par value		$ 0.1	$ 0.1
Common shares, authorized		100,000,000	100,000,000
Common shares, issued		2,648,916	2,648,916
Common shares, outstanding		2,581,021	2,581,021
Treasury stock, shares		67,895	67,895
Net assets (per share)	[1]	$ 23.56	$ 22.36
Control Investments
Investment at Cost		$ 5,272,770	$ 4,660,017
Affiliate Investments
Investment at Cost		45,720,974	30,204,160
Non-Control/Non-Affiliate Investments
Investment at Cost		$ 17,371,862	$ 20,852,060
[1] Per share data are based on shares outstanding and results are rounded .

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investment income:
Total interest from portfolio companies	$ 5,979,355	$ 4,152,802	$ 3,017,634
Total interest from other investments	933	131	13,876
Total dividend and other investment income	1,037,131	1,456,334	888,179
Total fee income	320,744	155,914	156,614
Total investment income	7,338,163	5,765,181	4,076,303
Operating Expenses [Abstract]
Base management fee (see Note 10)	1,057,166	927,226	858,144
Capital gains incentive fees (see Note 10)	804,700	(1,048,760)	4,200,000
Interest expense	1,044,831	69,960	617,270
Professional fees	547,456	729,967	578,577
Directors' fees	263,500	187,833	153,500
Stockholders and office operating	261,639	205,083	223,381
Administrative fees	149,000
Insurance	44,100	43,026	38,635
Corporate development	5,927	3,753	14,702
Other operating		1,141	1,106
Bad debt recovery			(15,000)
Total expenses	4,178,319	1,119,229	6,670,315
Net investment income (loss) before income taxes	3,159,844	4,645,952	(2,594,012)
Income taxes, including excise tax expense	192,111	215,542	10,896
Net investment income (loss)	2,967,733	4,430,410	(2,604,908)
Net realized gain on sales and dispositions of investments:
Net realized gain on sales and dispositions of investments, before income taxes	1,051,079	705,493	5,820,354
Income tax expense	359,682
Net realized gain on sales and dispositions of investments	691,397	705,493	5,820,354
Net change in unrealized appreciation/ depreciation on investments:
Change in unrealized appreciation/depreciation before income taxes	2,972,084	(5,909,772)	12,369,606
Deferred income tax expense (benefit)	104,564	107,980	(212,376)
Net change in unrealized appreciation/depreciation on investments	2,867,520	(6,017,752)	12,581,982
Net realized and unrealized gain (loss) on investments	3,558,917	(5,312,259)	18,402,336
Net increase (decrease) in net assets from operations	$ 6,526,650	$ (881,849)	$ 15,797,428
Weighted average shares outstanding, Basic	2,581,021	2,581,021	2,581,707
Weighted average shares outstanding, Diluted	2,581,021	2,581,021	2,581,707
Net (decrease) Increase in net assets from operations per share, Basic	$ 2.53	$ (0.34)	$ 6.12
Net (decrease) Increase in net assets from operations per share, Diluted	$ 2.53	$ (0.34)	$ 6.12
Control investments
Investment income:
Total interest from portfolio companies	$ 698,872	$ 279,055	$ 23,068
Total fee income	17,242	7,800
Net realized gain on sales and dispositions of investments:
Net realized gain on sales and dispositions of investments, before income taxes			(308,676)
Net change in unrealized appreciation/ depreciation on investments:
Change in unrealized appreciation/ depreciation before income taxes		(748,810)	1,151,021
Affiliate investments
Investment income:
Total interest from portfolio companies	3,858,696	2,366,955	1,541,507
Total dividend and other investment income	506,076	974,669	354,536
Total fee income	278,061	92,531	114,697
Net realized gain on sales and dispositions of investments:
Net realized gain on sales and dispositions of investments, before income taxes	2,574,829	167,159	192,645
Net change in unrealized appreciation/ depreciation on investments:
Change in unrealized appreciation/ depreciation before income taxes	(259,031)	4,740,353	3,414,050
Non-Control/Non-Affiliate investments
Investment income:
Total interest from portfolio companies	1,421,787	1,506,792	1,453,059
Total interest from other investments	933	131	13,876
Total dividend and other investment income	531,055	481,665	533,643
Total fee income	25,441	55,583	41,917
Net realized gain on sales and dispositions of investments:
Net realized gain on sales and dispositions of investments, before income taxes	(1,523,750)	538,334	5,936,385
Net change in unrealized appreciation/ depreciation on investments:
Change in unrealized appreciation/ depreciation before income taxes	$ 3,231,115	$ (9,901,315)	$ 7,804,535

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS	12 Months Ended
	Dec. 31, 2021 USD ($)
Statement of Stockholders' Equity [Abstract]
Net assets at beginning of year	$ 46,104,830
Net investment income (loss)	(2,604,908)
Net realized gain on sales and dispositions of investments	5,820,354
Net change in unrealized appreciation/ depreciation on investments	12,581,982
Net increase (decrease) in net assets from operations	15,797,428
Declaration of dividend	(1,136,071)
Purchase of treasury shares	(20,771)
Net assets at end of year	$ 60,745,416

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net increase (decrease) in net assets from operations	$ 6,526,650	$ (881,849)	$ 15,797,428
Adjustments to reconcile net increase (decrease) in net assets to net cash (used in) provided by operating activities:
Investments in portfolio companies	(20,347,522)	(7,026,086)	(19,650,079)
Proceeds from sale of portfolio investments	5,889,473	3,544,451	9,331,661
Proceeds from loan repayments	4,111,481	1,605,923	4,946,637
Net realized gain on portfolio investments	(1,051,079)	(705,493)	(5,820,354)
Change in unrealized appreciation/depreciation on investments	(2,972,084)	5,909,772	(12,369,606)
Deferred tax (benefit) expense	(11,019)	152,843	(302,144)
Amortization	25,000	12,500	175,412
Original issue discount accretion	(21,008)	(25,008)	(112,175)
Change in interest receivable allowance			(15,000)
Non-cash conversion of debenture interest	(1,225,773)	(739,355)	(346,045)
Changes in operating assets and liabilities:
(Increase) decrease in interest receivable	(36,262)	(80,291)	145,139
Decrease (Increase) in other assets	75,801	(1,087)	(107,358)
(Increase) decrease in prepaid income taxes	(51,473)	175,614	(31,270)
Increase (decrease) in accounts payable and accrued liabilities	78,836	14,991	(119,684)
Increase (decrease) in due to investment adviser	417,076	(328,881)	734,103
Increase (decrease) in capital gains incentive fees payable	112,700	(1,380,760)	3,547,760
Increase in deferred revenue	138,285	5,084	254,992
Total adjustments	(14,867,568)	1,134,217	(19,738,011)
Net cash (used in) provided by operating activities	(8,340,918)	252,368	(3,940,583)
Cash flows from financing activities:
Net proceeds from line of credit	13,700,000	2,550,000
Payment of cash dividend	(3,432,757)	(2,142,247)	(4,570,186)
Payment of closing fee		(125,000)
Purchase of treasury shares			(20,771)
Repayment of debentures guaranteed by the SBA			(11,000,000)
Net cash provided by (used in) financing activities	10,267,243	282,753	(15,590,957)
Net increase (decrease) in cash	1,926,325	535,121	(19,531,540)
Cash:
Beginning of year	1,368,996	833,875	20,365,415
End of year	$ 3,295,321	$ 1,368,996	$ 833,875

CONSOLIDATED SCHEDULE OF PORTFO

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS		12 Months Ended
		Dec. 31, 2023 USD ($) Units $ / shares shares		Dec. 31, 2022 USD ($) Units $ / shares shares		Dec. 31, 2021 USD ($) $ / shares
Schedule of Investments [Line Items]
Cost		$ 68,365,606		$ 55,716,237
Fair Value		$ 77,125,712		$ 61,504,259
Value of shares owned per share | $ / shares	[1]	$ 12.99		$ 13.32		$ 16.99
Investment, Identifier [Axis]: ACV Auctions, Inc, - 194,934 shares
Schedule of Investments [Line Items]
Date Acquired	[2],[3],[4],[5]	Aug. 12, 2016
Equity	[2],[3],[5],[6]	1%
Cost	[2],[3],[5]	$ 53,094
Fair Value	[2],[3],[5],[7],[8]	$ 2,953,250
Percent of Net Assets	[2],[3],[5]	4.90%
Number of Shares Owned | shares	[2],[3],[5],[9]	194,934
Value of shares owned per share | $ / shares	[2],[3],[5],[9]	$ 15.15
Investment, Identifier [Axis]: ACV Auctions, Inc, - 319,934 shares
Schedule of Investments [Line Items]
Date Acquired	[10],[11],[12],[13]			Aug. 12, 2016
Equity	[10],[11],[13],[14]			1%
Cost	[10],[11],[13]			$ 87,219
Fair Value	[10],[11],[13],[15],[16]			$ 2,517,881
Percent of Net Assets	[10],[11],[13]			4.40%
Number of Shares Owned | shares	[10],[11],[13],[17]			319,934
Value of shares owned per share | $ / shares	[10],[11],[13],[17]			$ 7.87
Investment, Identifier [Axis]: Affiliate Investments
Schedule of Investments [Line Items]
Fair Value		$ 53,499,372		$ 38,241,589		$ 30,279,873
Net Change in Unrealized Appreciation (Depreciation)		(259,031)		4,692,512
Gross Additions		20,605,795	[18]	7,592,100	[19]
Gross Reductions		(5,088,981)	[20]	(4,322,896)	[21]
Net Realized Gains (Losses)		2,574,829		167,159
Amount of Interest/Dividend/Fee Income		$ 4,642,833	[22]	$ 3,434,155	[23]
Investment, Identifier [Axis]: Affiliate Investments – Net assets
Schedule of Investments [Line Items]
Percent of Net Assets		88%	[2],[24]	66.30%	[10],[25]
Investment, Identifier [Axis]: Applied Image, Inc.
Schedule of Investments [Line Items]
Cost		$ 1,750,000	[2],[24],[26]	$ 1,750,000	[10],[25],[27]
Fair Value		1,750,000	[2],[7],[8],[24],[26]	1,750,000	[10],[15],[16],[25],[27]	1,750,000
Amount of Interest/Dividend/Fee Income		$ 183,536	[22]	$ 184,022	[23]
Investment, Identifier [Axis]: Applied Image, Inc. - $1,750,000 Term Note
Schedule of Investments [Line Items]
Date Acquired		Dec. 31, 2021	[2],[4],[24],[26]	Dec. 31, 2021	[10],[12],[25],[27]
Equity		12%	[2],[6],[24],[26]	12%	[10],[14],[25],[27]
Cost		$ 1,750,000	[2],[24],[26]	$ 1,750,000	[10],[25],[27]
Fair Value		$ 1,750,000	[2],[7],[8],[24],[26]	$ 1,750,000	[10],[15],[16],[25],[27]
Percent of Net Assets		2.90%	[2],[24],[26]	3%	[10],[25],[27]
Principle Amount	[10],[17],[25],[27]			$ 1,750,000
Interest Rate		10%	[2],[9],[24],[26]	10%	[10],[17],[25],[27]
Due Date		Feb. 01, 2029	[2],[9],[24],[26]	Feb. 01, 2029	[10],[17],[25],[27]
Investment owned face amount	[2],[9],[24],[26]	$ 1,750,000
Investment, Identifier [Axis]: Applied Image, Inc. - $1,750,000 Term Note at 10%
Schedule of Investments [Line Items]
Fair Value		$ 1,750,000		$ 1,750,000		1,750,000
Interest Rate		10%		10%
Due Date		Feb. 01, 2029		Feb. 01, 2029
Investment owned face amount		$ 1,750,000		$ 1,750,000
Amount of Interest/Dividend/Fee Income		$ 183,536	[22]	$ 184,022	[23]
Investment, Identifier [Axis]: Applied Image, Inc. - Warrant for 1,167 shares
Schedule of Investments [Line Items]
Date Acquired		Dec. 31, 2021	[2],[4],[24],[26]	Dec. 31, 2021	[10],[12],[25],[27]
Number of Shares Owned | shares		1,167		1,167	[10],[17],[25],[27]
Number of Warrants Owned | Units	[2],[9],[24],[26]	1,167
Investment, Identifier [Axis]: Ares Capital Corporation - 21,000 shares
Schedule of Investments [Line Items]
Date Acquired		Mar. 16, 2020	[2],[3],[4],[28]	Mar. 16, 2020	[10],[11],[12]
Equity		1%	[2],[3],[6],[28]	1%	[10],[11],[14]
Cost		$ 267,140	[2],[3],[28]	$ 267,140	[10],[11]
Fair Value		$ 420,630	[2],[3],[5],[7],[8],[28]	$ 389,130	[10],[11],[15],[16]
Percent of Net Assets		0.70%	[2],[3],[28]	0.70%	[10],[11]
Number of Shares Owned | shares		21,000	[2],[3],[9],[28]	21,000	[10],[11],[17]
Value of shares owned per share | $ / shares		$ 20.03	[2],[3],[9],[28]	$ 18.53	[10],[11],[17]
Investment, Identifier [Axis]: BMP Food Service Supply
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[29],[30],[31]	$ 6,784,953
Fair Value	[2],[7],[8],[24],[26],[29],[30],[31]	7,394,953
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC
Schedule of Investments [Line Items]
Cost	[10],[25],[27],[32]			$ 3,100,000
Fair Value		7,394,953		3,100,000	[10],[15],[16],[25],[27],[32]
Net Change in Unrealized Appreciation (Depreciation)		610,000
Gross Additions		4,535,000	[18]	3,100,000	[19]
Gross Reductions	[20]	(850,047)
Amount of Interest/Dividend/Fee Income		$ 643,615	[22]	33,533	[23]
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC $2,215,000 at 13% Second Amended and Restated Term Note
Schedule of Investments [Line Items]
Interest Rate		13%
Investment owned face amount		$ 2,215,000
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC $4,820,000 at 12% Second Amended and Restated Term Note
Schedule of Investments [Line Items]
Interest Rate		12%
Investment owned face amount		$ 4,820,000
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC $7,035,000 Second Amended and Restated Term Note, $4,820,000 at 12%, $2,215,000 at 13%
Schedule of Investments [Line Items]
Fair Value		$ 6,394,953		$ 2,500,000
Reference Rate and Spread (+), PIK		3%
Due Date		Nov. 22, 2027
Investment owned face amount		$ 7,035,000
Gross Additions	[18]	4,535,000
Gross Reductions	[20]	(640,047)
Amount of Interest/Dividend/Fee Income	[22]	$ 643,615
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - $2,500,000 Term Note
Schedule of Investments [Line Items]
Date Acquired	[10],[12],[25],[27],[32]			Nov. 22, 2022
Equity	[10],[14],[25],[27],[32]			24%
Cost	[10],[25],[27],[32]			$ 2,500,000
Fair Value	[10],[15],[16],[25],[27],[32]			$ 2,500,000
Percent of Net Assets	[10],[25],[27],[32]			5.40%
Principle Amount	[10],[17],[25],[27],[32]			$ 2,500,000
Interest Rate	[10],[17],[25],[27],[32]			12%
Due Date	[10],[17],[25],[27],[32]			Nov. 22, 2027
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - $2,500,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value				$ 2,500,000
Interest Rate				12%
Due Date				Nov. 22, 2027
Investment owned face amount				$ 2,500,000
Gross Additions	[19]			2,500,000
Amount of Interest/Dividend/Fee Income	[23]			33,533
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - 15.4% Preferred Interest
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30],[31]	Nov. 22, 2022
Cost	[2],[24],[26],[29],[30],[31]	$ 390,000
Fair Value	[2],[7],[8],[24],[26],[29],[30],[31]	$ 1,000,000
Membership Interest	[2],[9],[24],[26],[29],[30],[31]	15.40%
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - 24.83% Preferred Interest
Schedule of Investments [Line Items]
Cost	[10],[25],[32]			600,000
Fair Value	[10],[25],[32]			$ 600,000
Membership Interest	[10],[17],[25],[27],[32]			24.83%
Gross Additions	[19]			$ 600,000
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - 7,035,000 Second Amended and Restated Term Note
Schedule of Investments [Line Items]
Investment owned face amount	[2],[9],[24],[26],[29],[30],[31]	$ 7,035,000
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - 7,035,000 Second Amended and Restated Term Note, $2,215,000
Schedule of Investments [Line Items]
Principle Amount	[2],[9],[24],[26],[29],[30],[31]	$ 2,215,000
Interest Rate	[2],[9],[24],[26],[29],[30],[31]	13%
Reference Rate and Spread (+), PIK	[2],[9],[24],[26],[29],[30],[31]	3%
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC - 7,035,000 Second Amended and Restated Term Note, $4,820,000
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30],[31]	Nov. 22, 2022
Equity	[2],[6],[24],[26],[29],[30],[31]	15%
Cost	[2],[24],[26],[29],[30],[31]	$ 6,394,953
Fair Value	[2],[7],[8],[24],[26],[29],[30],[31]	$ 6,394,953
Percent of Net Assets	[2],[24],[26],[29],[30],[31]	12.20%
Interest Rate	[2],[9],[24],[26],[29],[30],[31]	12%
Due Date	[2],[9],[24],[26],[29],[30],[31]	Nov. 22, 2027
Investment owned face amount	[2],[9],[24],[26],[29],[30],[31]	$ 4,820,000
Investment, Identifier [Axis]: BMP Food Service Supply Holdco, LLC 15.4% Preferred Interest
Schedule of Investments [Line Items]
Fair Value		$ 1,000,000		600,000
Membership Interest		15.40%
Net Change in Unrealized Appreciation (Depreciation)		$ 610,000
Gross Reductions	[20]	(210,000)
Investment, Identifier [Axis]: BMP Swanson
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[29],[30]	1,933,448
Fair Value	[2],[7],[8],[24],[26],[29],[30]	2,200,115
Investment, Identifier [Axis]: BMP Swanson Holdco, LLC
Schedule of Investments [Line Items]
Cost	[10],[25],[27],[32]			1,833,333
Fair Value		2,200,115		1,833,333	[10],[15],[16],[25],[27],[32]	1,833,333
Net Change in Unrealized Appreciation (Depreciation)		266,667
Gross Additions	[18]	100,115
Amount of Interest/Dividend/Fee Income		206,918	[22]	201,334	[23]
Investment, Identifier [Axis]: BMP Swanson Holdco, LLC $1,600,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		$ 1,700,115		$ 1,600,000
Interest Rate		12%
Due Date		Sep. 04, 2026
Investment owned face amount		$ 1,600,000
Gross Additions	[18]	100,115
Amount of Interest/Dividend/Fee Income	[22]	$ 206,918
Investment, Identifier [Axis]: BMP Swanson Holdco, LLC - $1,600,000 Term Note
Schedule of Investments [Line Items]
Date Acquired		Mar. 04, 2021	[2],[3],[4],[24],[26],[29],[30]	Mar. 04, 2021	[10],[12],[25],[27],[32]
Equity		9%	[2],[3],[6],[24],[26],[29],[30]	9%	[10],[14],[25],[27],[32]
Cost		$ 1,700,115	[2],[3],[24],[26],[29],[30]	$ 1,600,000	[10],[25],[27],[32]
Fair Value		$ 1,700,115	[2],[3],[7],[8],[24],[26],[29],[30]	$ 1,600,000	[10],[15],[16],[25],[27],[32]
Percent of Net Assets		3.60%	[2],[3],[24],[26],[29],[30]	3.20%	[10],[25],[27],[32]
Principle Amount	[10],[17],[25],[27],[32]			$ 1,600,000
Interest Rate		12%	[2],[9],[24],[26],[29],[30]	12%	[10],[17],[25],[27],[32]
Due Date		Sep. 04, 2026	[2],[9],[24],[26],[29],[30]	Sep. 04, 2026	[10],[17],[25],[27],[32]
Investment owned face amount	[2],[9],[24],[26],[29],[30]	$ 1,600,000
Investment, Identifier [Axis]: BMP Swanson Holdco, LLC - $1,600,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value				$ 1,600,000		1,600,000
Interest Rate				12%
Due Date				Sep. 04, 2026
Investment owned face amount				$ 1,600,000
Amount of Interest/Dividend/Fee Income	[23]			$ 201,334
Investment, Identifier [Axis]: BMP Swanson Holdco, LLC - Preferred Membership Interest for 9.29%
Schedule of Investments [Line Items]
Date Acquired		Mar. 04, 2021	[2],[4],[24],[26],[29],[30]	Mar. 04, 2021	[10],[12],[25],[27],[32]
Cost		$ 233,333	[2],[24],[26],[29],[30]	$ 233,333	[10],[25],[27],[32]
Fair Value		$ 500,000	[2],[7],[8],[24],[26],[29],[30]	$ 233,333	[10],[15],[16],[25],[27],[32]	233,333
Membership Interest		9.29%	[2],[9],[24],[26],[29],[30]	9.29%	[10],[17],[25],[27],[32]
Investment, Identifier [Axis]: BMP Swanson Holdco, LLC Preferred Membership Interest for 9.29%
Schedule of Investments [Line Items]
Fair Value		$ 500,000		$ 233,333
Membership Interest		9.29%
Net Change in Unrealized Appreciation (Depreciation)		$ 266,667
Investment, Identifier [Axis]: Barings BDC, Inc. - 40,000 shares
Schedule of Investments [Line Items]
Date Acquired		Aug. 13, 2020	[2],[3],[4],[28]	Aug. 13, 2020	[10],[11],[12],[33]
Equity		1%	[2],[3],[6],[28]	1%	[10],[11],[14],[33]
Cost		$ 333,352	[2],[3],[28]	$ 333,352	[10],[11],[33]
Fair Value		$ 343,200	[2],[3],[5],[7],[8],[28]	$ 326,400	[10],[11],[15],[16],[33]
Percent of Net Assets		0.60%	[2],[3],[28]	0.60%	[10],[11],[33]
Number of Shares Owned | shares		40,000	[2],[3],[9],[28]	40,000	[10],[11],[17],[33]
Value of shares owned per share | $ / shares		$ 8.58	[2],[3],[9],[28]	$ 8.16	[10],[11],[17],[33]
Investment, Identifier [Axis]: Caitec, Inc.
Schedule of Investments [Line Items]
Cost		$ 4,257,010	[2],[3],[5],[26],[34]	$ 3,955,882	[10],[11],[27],[35]
Fair Value		$ 3,957,010	[2],[3],[5],[7],[8]	$ 3,955,882	[10],[11],[15],[16],[27],[35]
Investment, Identifier [Axis]: Caitec, Inc. - $1,750,000 Subordinated Secured Promissory Note
Schedule of Investments [Line Items]
Date Acquired		Nov. 06, 2020	[2],[3],[4],[5],[26],[30]	Nov. 06, 2020	[10],[11],[12],[27],[35]
Equity		4%	[2],[3],[5],[6],[26],[30]	4%	[10],[11],[14],[27],[35]
Cost		$ 1,942,244	[2],[3],[5],[26],[30]	$ 1,827,941	[10],[11],[27],[35]
Fair Value		$ 1,942,244	[2],[3],[5],[7],[8],[26],[30]	$ 1,827,941	[10],[11],[15],[16],[27],[35]
Percent of Net Assets		6.50%	[2],[3],[5],[26],[30]	6.90%	[10],[11],[27],[35]
Principle Amount		$ 1,750,000	[2],[3],[5],[9],[26],[30]	$ 1,750,000	[10],[11],[17],[27],[35]
Interest Rate	[10],[11],[17],[27],[35]			12%
Reference Rate and Spread (+), PIK	[10],[11],[17],[27],[35]			2%
Investment modified PIK	[2],[3],[5],[9],[26],[30]	14%
Due Date		Dec. 31, 2024	[2],[3],[5],[9],[26],[30]	Jun. 01, 2026	[10],[11],[17],[27],[35]
Investment, Identifier [Axis]: Caitec, Inc. - $1,750,000 Subordinated Secured Promissory Note One
Schedule of Investments [Line Items]
Date Acquired	[2],[3],[4],[5],[26],[30]	Nov. 06, 2020
Cost	[2],[3],[5],[26],[30]	$ 1,942,244
Fair Value	[2],[3],[5],[7],[8],[26],[30]	1,942,244
Principle Amount	[2],[3],[5],[9],[26],[30]	$ 1,750,000
Investment modified PIK	[2],[3],[5],[9],[26],[30]	14%
Due Date	[2],[3],[5],[9],[26],[30]	Dec. 31, 2024
Investment, Identifier [Axis]: Caitec, Inc. - $1,750,000 Subordinated Secured Promissory Note One to 12%
Schedule of Investments [Line Items]
Interest Rate	[2],[3],[5],[9],[26],[30]	12%
Reference Rate and Spread (+), PIK	[2],[3],[5],[9],[26],[30]	2%
Due Date	[2],[3],[5],[9],[26],[30]	Jun. 01, 2026
Investment, Identifier [Axis]: Caitec, Inc. - $1,750,000 Subordinated Secured Promissory Note to 12%
Schedule of Investments [Line Items]
Interest Rate	[2],[3],[5],[9],[26],[30]	12%
Reference Rate and Spread (+), PIK	[2],[3],[5],[9],[26],[30]	2%
Due Date	[2],[3],[5],[9],[26],[30]	Jun. 01, 2026
Investment, Identifier [Axis]: Caitec, Inc. - 150 Class A Units
Schedule of Investments [Line Items]
Date Acquired		Nov. 06, 2020	[2],[3],[4],[5],[26],[30]	Nov. 06, 2020	[10],[11],[12],[27],[35]
Cost		$ 150,000	[2],[3],[5],[26],[30]	$ 150,000	[10],[11],[27],[35]
Fair Value	[10],[11],[15],[16],[27],[35]			$ 150,000
Number of Shares Owned | shares		150	[2],[3],[5],[9],[26],[30]	150	[10],[11],[12],[17],[27],[35]
Number of Units Owned | Units	[10],[11],[17],[27],[35]			150
Investment, Identifier [Axis]: Caitec, Inc. - 150 Class A Units One
Schedule of Investments [Line Items]
Date Acquired	[2],[3],[4],[5],[26],[30]	Nov. 06, 2020
Cost	[2],[3],[5],[26],[30]	$ 150,000
Number of Shares Owned | shares	[2],[3],[5],[9],[26],[30]	150
Investment, Identifier [Axis]: Caitec, Inc. - 36,261 Series A Preferred
Schedule of Investments [Line Items]
Date Acquired	[2],[3],[4],[5],[26],[30]	Dec. 28, 2023
Cost	[2],[3],[5],[26],[30]	$ 36,261
Fair Value	[2],[3],[5],[7],[8],[26],[30]	$ 36,261
Number of Shares Owned | shares	[2],[3],[5],[9],[26],[30]	36,261
Investment, Identifier [Axis]: Caitec, Inc. - 36,261 Series A Preferred One
Schedule of Investments [Line Items]
Number of Shares Owned | shares	[2],[3],[5],[9],[26],[30]	36,261
Investment, Identifier [Axis]: Caitec, Inc. - 36,261 Series A Preferred.
Schedule of Investments [Line Items]
Date Acquired	[2],[3],[4],[5],[26],[30]	Dec. 28, 2023
Cost	[2],[3],[5],[26],[30]	$ 36,261
Fair Value	[2],[3],[5],[7],[8],[26],[30]	$ 36,261
Investment, Identifier [Axis]: Carlyle Secured Lending Inc. - 86,000 shares
Schedule of Investments [Line Items]
Date Acquired		Aug. 13, 2020	[2],[3],[4],[28]	Aug. 13, 2020	[10],[11],[12],[33]
Equity		1%	[2],[3],[6],[28]	1%	[10],[11],[14],[33]
Cost		$ 899,749	[2],[3],[28]	$ 899,749	[10],[11],[33]
Fair Value		$ 1,286,560	[2],[3],[5],[7],[8],[28]	$ 1,229,227	[10],[11],[15],[16],[33]
Percent of Net Assets		2.10%	[2],[3],[28]	2.10%	[10],[11],[33]
Number of Shares Owned | shares		86,000	[2],[3],[9],[28]	86,000	[10],[11],[17],[33]
Value of shares owned per share | $ / shares		$ 14.96	[2],[3],[9],[28]	$ 14.29	[10],[11],[17],[33]
Investment, Identifier [Axis]: Carolina Skiff LLC - 6.0825% Class A Common
Schedule of Investments [Line Items]
Date Acquired		Jan. 30, 2004	[2],[4],[5],[24],[26],[29]	Jan. 30, 2004	[10],[12],[25],[27],[32]
Equity		7%	[2],[5],[6],[24],[26],[29]	7%	[10],[14],[25],[27],[32]
Cost		$ 15,000	[2],[5],[24],[26],[29]	$ 15,000	[10],[25],[27],[32]
Fair Value		$ 1,708,000	[2],[5],[7],[8],[24],[26],[29]	$ 1,957,000	[10],[15],[16],[25],[27],[32]
Percent of Net Assets		2.80%	[2],[5],[24],[26],[29]	3.40%	[10],[25],[27],[32]
Membership Interest		6.0825%	[2],[5],[9],[24],[26],[29]	6.0825%	[10],[17],[25],[27],[32]
Investment, Identifier [Axis]: Carolina Skiff LLC - 6.0825% Class A Common Membership Interest
Schedule of Investments [Line Items]
Fair Value		$ 1,708,000		$ 1,957,000		1,300,000
Membership Interest		6.0825%		6.0825%
Net Change in Unrealized Appreciation (Depreciation)		$ (249,000)		$ 657,000
Amount of Interest/Dividend/Fee Income		372,173	[22]	653,437	[23]
Investment, Identifier [Axis]: Control Investments
Schedule of Investments [Line Items]
Fair Value		4,148,960		3,536,207
Net Change in Unrealized Appreciation (Depreciation)				(748,810)
Gross Additions		612,753	[18]	4,285,017	[19]
Amount of Interest/Dividend/Fee Income		$ 716,114	[22]	$ 286,855	[23]
Investment, Identifier [Axis]: Control Investments - 6.1% of net assets
Schedule of Investments [Line Items]
Percent of Net Assets	[36]			6.10%
Investment, Identifier [Axis]: Control Investments - 6.8% of net assets
Schedule of Investments [Line Items]
Percent of Net Assets	[2],[37]	6.80%
Investment, Identifier [Axis]: Control and Affiliate Investments
Schedule of Investments [Line Items]
Fair Value		$ 57,648,332		$ 41,777,796		30,279,873
Net Change in Unrealized Appreciation (Depreciation)		(259,031)		3,943,702
Gross Additions		21,218,548	[18]	11,877,117	[19]
Gross Reductions		(5,088,981)	[20]	(4,322,896)	[21]
Net Realized Gains (Losses)		2,574,829		167,159
Amount of Interest/Dividend/Fee Income		5,358,947	[22]	3,721,010	[23]
Investment, Identifier [Axis]: DSD
Schedule of Investments [Line Items]
Cost	[10],[25],[27],[32],[35]			4,207,282
Fair Value	[10],[15],[16],[25],[27],[32],[35]			5,093,980
Investment, Identifier [Axis]: DSD Operating, LLC
Schedule of Investments [Line Items]
Fair Value				5,093,980		3,826,683
Net Change in Unrealized Appreciation (Depreciation)		(886,698)		886,698
Gross Additions		31,652	[18]	380,599	[19]
Gross Reductions	[20]	(4,238,934)
Net Realized Gains (Losses)		2,459,819
Amount of Interest/Dividend/Fee Income		386,565	[22]	720,247	[23]
Investment, Identifier [Axis]: DSD Operating, LLC - $3,063,276 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value				3,139,782		2,759,183
Principle Amount		$ 3,063,276		$ 3,063,276
Interest Rate		12%		12%
Reference Rate and Spread (+), PIK		2%		2%
Due Date		Sep. 30, 2026		Sep. 30, 2026
Gross Additions		$ 31,652	[18]	$ 380,599	[19]
Gross Reductions	[20]	(3,171,434)
Amount of Interest/Dividend/Fee Income		$ 324,000	[22]	720,247	[23]
Investment, Identifier [Axis]: DSD Operating, LLC - 1,067 Class A Preferred shares
Schedule of Investments [Line Items]
Cost	[10],[25],[27],[32],[35]			1,067,500
Fair Value				$ 1,954,198	[10],[15],[16],[25],[27],[32],[35]	1,067,500
Number of Shares Owned | shares	[10],[17],[25],[27],[32],[35]			1,067
Net Change in Unrealized Appreciation (Depreciation)				$ 886,698
Investment, Identifier [Axis]: DSD Operating, LLC - 1,067 Class B Common shares
Schedule of Investments [Line Items]
Number of Shares Owned | shares				1,067
Investment, Identifier [Axis]: DSD Operating, LLC - 1,067 Class B Common sharesInvestments – 66.3% of net assets DSD Operating, LLC Type of Investment 1,067 Class B Preferred Shares.
Schedule of Investments [Line Items]
Number of Shares Owned | shares	[10],[17],[25],[27],[32],[35]			1,067
Investment, Identifier [Axis]: DSD Operating, LLC - 3,063,276 Term Note
Schedule of Investments [Line Items]
Date Acquired	[10],[12],[25],[27],[32],[35]			Sep. 30, 2021
Equity	[10],[14],[25],[27],[32],[35]			11%
Cost	[10],[25],[27],[32],[35]			$ 3,139,782
Fair Value	[10],[15],[16],[25],[27],[32],[35]			$ 3,139,782
Percent of Net Assets	[10],[25],[27],[32],[35]			8.80%
Principle Amount	[10],[17],[25],[27],[32],[35]			$ 3,063,276
Interest Rate	[10],[17],[25],[27],[32],[35]			12%
Reference Rate and Spread (+), PIK	[10],[17],[25],[27],[32],[35]			2%
Due Date	[10],[17],[25],[27],[32],[35]			Sep. 30, 2026
Investment, Identifier [Axis]: DSD Operating, LLC 1,067 Class A Preferred shares
Schedule of Investments [Line Items]
Fair Value				$ 1,954,198
Number of Shares Owned | shares		1,067
Net Change in Unrealized Appreciation (Depreciation)		$ (886,698)
Gross Reductions	[20]	(1,067,500)
Net Realized Gains (Losses)		2,459,819
Amount of Interest/Dividend/Fee Income	[22]	$ 62,565
Investment, Identifier [Axis]: DSD Operating, LLC 1,067 Class B Common shares
Schedule of Investments [Line Items]
Number of Shares Owned | shares		1,067
Investment, Identifier [Axis]: FCM Industries Holdco LLC
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[30]	$ 3,818,156
Fair Value	[2],[7],[8],[24],[26],[30]	3,818,156
Gross Additions	[18]	3,818,156
Amount of Interest/Dividend/Fee Income	[22]	223,234
Investment, Identifier [Axis]: FCM Industries Holdco LLC $3,380,000 Term Note at 13%
Schedule of Investments [Line Items]
Fair Value		3,380,000
Principle Amount		$ 3,380,000
Interest Rate		13%
Due Date		Jul. 31, 2028
Gross Additions	[18]	$ 3,380,000
Amount of Interest/Dividend/Fee Income	[22]	205,078
Investment, Identifier [Axis]: FCM Industries Holdco LLC $420,000 Convertible Note at 10%
Schedule of Investments [Line Items]
Fair Value		438,156
Principle Amount		$ 420,000
Reference Rate and Spread (+), PIK		10%
Due Date		Jul. 31, 2033
Gross Additions	[18]	$ 438,156
Amount of Interest/Dividend/Fee Income	[22]	$ 18,156
Investment, Identifier [Axis]: FCM Industries Holdco LLC - $3,380,000 Term Note at 13%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[30]	Jul. 31, 2023
Equity	[2],[6],[24],[26],[30]	12%
Cost	[2],[24],[26],[30]	$ 3,380,000
Fair Value	[2],[7],[8],[24],[26],[30]	$ 3,380,000
Percent of Net Assets	[2],[24],[26],[30]	6.30%
Interest Rate	[2],[9],[24],[26],[30]	13%
Due Date	[2],[9],[24],[26],[30]	Jul. 31, 2028
Investment owned face amount	[2],[9],[24],[26],[30]	$ 3,380,000
Investment, Identifier [Axis]: FCM Industries Holdco LLC - $420,000 Convertible Note at 10%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[30]	Jul. 31, 2023
Cost	[2],[24],[26],[30]	$ 438,156
Fair Value	[2],[7],[8],[24],[26],[30]	438,156
Principle Amount	[2],[9],[24],[26],[30]	$ 420,000
Reference Rate and Spread (+), PIK	[2],[9],[24],[26],[30]	10%
Due Date	[2],[9],[24],[26],[30]	Jul. 31, 2033
Investment, Identifier [Axis]: FS KKR Capital Corp. - 48,000 shares
Schedule of Investments [Line Items]
Date Acquired		Mar. 16, 2020	[2],[3],[4],[28]	Mar. 16, 2020	[10],[11],[12],[33]
Equity		1%	[2],[3],[6],[28]	1%	[10],[11],[14],[33]
Cost		$ 755,058	[2],[3],[28]	$ 755,058	[10],[11],[33]
Fair Value		$ 958,560	[2],[3],[5],[7],[8],[28]	$ 835,360	[10],[11],[15],[16],[33]
Percent of Net Assets		1.60%	[2],[3],[28]	1.40%	[10],[11],[33]
Number of Shares Owned | shares		48,000	[2],[3],[9],[28]	48,000	[10],[11],[17],[33]
Value of shares owned per share | $ / shares		$ 19.97	[2],[3],[9],[28]	$ 17.4	[10],[11],[17],[33]
Investment, Identifier [Axis]: Filterworks
Schedule of Investments [Line Items]
Cost	[10],[25],[27],[32],[35]			$ 3,398,580
Fair Value				3,029,331	[10],[15],[16],[25],[27],[32],[35]	2,703,611
Gross Additions	[19]			325,720
Amount of Interest/Dividend/Fee Income	[23]			358,545
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC
Schedule of Investments [Line Items]
Fair Value		$ 3,277,172		3,029,331
Gross Additions	[18]	247,841
Amount of Interest/Dividend/Fee Income	[22]	388,915
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC $2,283,702 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		2,880,946		2,633,105
Principle Amount		$ 2,283,702
Interest Rate		12%
Reference Rate and Spread (+), PIK		2%
Due Date		Aug. 30, 2024
Gross Additions	[18]	$ 247,841
Amount of Interest/Dividend/Fee Income	[22]	388,915
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC 417.7 shares Class A-0 Units
Schedule of Investments [Line Items]
Fair Value		$ 139,232		139,232
Number of Shares Owned | shares		417.7
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC 626.2 shares Class A-1 Units.
Schedule of Investments [Line Items]
Fair Value		$ 256,994		$ 256,994
Number of Shares Owned | shares		626.2
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC DBA Autotality - $2,283,702 Term Note
Schedule of Investments [Line Items]
Date Acquired	[10],[12],[25],[27],[32],[35]			Nov. 18, 2019
Equity	[10],[14],[25],[27],[32],[35]			8%
Cost	[10],[25],[27],[32],[35]			$ 2,633,105
Fair Value				$ 2,633,105	[10],[15],[16],[25],[27],[32],[35]	2,446,617
Percent of Net Assets	[10],[25],[27],[32],[35]			5.30%
Principle Amount	[10],[17],[25],[27],[32],[35]			$ 2,283,702
Interest Rate	[10],[17],[25],[27],[32],[35]			12%
Reference Rate and Spread (+), PIK	[10],[17],[25],[27],[32],[35]			2%
Investment interest payable rate	[10],[17],[25],[27],[32],[35]			6%
Investment modified PIK	[10],[17],[25],[27],[32],[35]			8%
Due Date	[10],[17],[25],[27],[32],[35]			Dec. 04, 2023
Gross Additions	[19]			$ 186,488
Amount of Interest/Dividend/Fee Income	[23]			$ 358,545
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC DBA Autotality - 626.2 shares Class A-1 Units
Schedule of Investments [Line Items]
Date Acquired	[10],[12],[25],[27],[32],[35]			Jun. 03, 2022
Cost	[10],[25],[27],[32],[35]			$ 626,243
Fair Value				$ 256,994	[10],[15],[16],[25],[27],[32],[35]	256,994
Number of Shares Owned | shares	[10],[17],[25],[27],[32],[35]			626.2
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC DBA Autotality -417.7 shares Class A-0 Units
Schedule of Investments [Line Items]
Date Acquired	[10],[12],[25],[27],[32],[35]			Sep. 30, 2022
Cost	[10],[25],[27],[32],[35]			$ 139,232
Fair Value	[10],[15],[16],[25],[27],[32],[35]			$ 139,232
Number of Shares Owned | shares	[10],[17],[25],[27],[32],[35]			417.7
Gross Additions	[19]			$ 139,232
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC d/b/a Autotality
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[29],[30]	$ 3,646,421
Fair Value	[2],[7],[8],[24],[26],[29],[30]	$ 3,277,172
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC d/b/a Autotality - $2,283,702 Term Note
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30]	Nov. 18, 2019
Equity	[2],[6],[24],[26],[29],[30]	8%
Cost	[2],[24],[26],[29],[30]	$ 2,880,946
Fair Value	[2],[7],[8],[24],[26],[29],[30]	$ 2,880,946
Percent of Net Assets	[2],[24],[26],[29],[30]	5.40%
Interest Rate	[2],[9],[24],[26],[29],[30]	12%
Reference Rate and Spread (+), PIK	[2],[9],[24],[26],[29],[30]	2%
Due Date	[2],[9],[24],[26],[29],[30]	Aug. 30, 2024
Investment owned face amount	[2],[9],[24],[26],[29],[30]	$ 2,283,702
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC d/b/a Autotality - 626.2 shares Class A-1 Units
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30]	Jun. 03, 2022
Cost	[2],[24],[26],[29],[30]	$ 626,243
Fair Value	[2],[7],[8],[24],[26],[29],[30]	$ 256,994
Number of Shares Owned | shares	[2],[9],[24],[26],[29],[30]	626.2
Investment, Identifier [Axis]: Filterworks Acquisition USA, LLC d/b/a Autotality -417.7 shares Class A-0 Units
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30]	Sep. 30, 2022
Cost	[2],[24],[26],[29],[30]	$ 139,232
Fair Value	[2],[7],[8],[24],[26],[29],[30]	$ 139,232
Number of Shares Owned | shares	[2],[9],[24],[26],[29],[30]	417.7
Investment, Identifier [Axis]: GoNoodle, Inc.
Schedule of Investments [Line Items]
Cost		$ 1,426,001	[2],[3],[26],[34]	1,411,831	[10],[11],[27],[35],[38]
Fair Value		$ 1,426,001	[2],[3],[5],[7],[8],[26],[34]	$ 1,411,831	[10],[11],[15],[16],[27],[35],[38]
Investment, Identifier [Axis]: GoNoodle, Inc. - 1,500,000 Secured Note
Schedule of Investments [Line Items]
Date Acquired		Nov. 01, 2019	[2],[3],[4],[26],[34]	Nov. 01, 2019	[10],[11],[12],[27],[35],[38]
Equity		1%	[2],[3],[6],[26],[34]	1%	[10],[11],[14],[27],[35],[38]
Cost		$ 1,425,938	[2],[3],[26],[34]	$ 1,411,768	[10],[11],[27],[35],[38]
Fair Value		$ 1,425,938	[2],[3],[5],[7],[8],[26],[34]	$ 1,411,768	[10],[11],[15],[16],[27],[35],[38]
Percent of Net Assets		2.30%	[2],[3],[26],[34]	2.40%	[10],[11],[27],[35],[38]
Principle Amount		$ 1,500,000	[2],[3],[9],[26],[34]	$ 1,500,000	[10],[11],[17],[27],[35],[38]
Interest Rate		12%	[2],[3],[9],[26],[34]	12%	[10],[11],[17],[27],[35],[38]
Reference Rate and Spread (+), PIK		1%	[2],[3],[9],[26],[34]	1%	[10],[11],[17],[27],[35],[38]
Due Date		Sep. 30, 2025	[2],[3],[9],[26],[34]	Sep. 30, 2024	[10],[11],[17],[27],[35],[38]
Investment, Identifier [Axis]: GoNoodle, Inc. - Warrant for 21,948 Series D Preferred
Schedule of Investments [Line Items]
Date Acquired		Nov. 01, 2019	[2],[3],[4],[26],[34]	Nov. 01, 2019	[10],[11],[12],[27],[35],[38]
Cost		$ 38	[2],[3],[26],[34]	$ 38	[10],[11],[27],[35],[38]
Fair Value		$ 38	[2],[3],[5],[7],[8],[26],[34]	$ 38	[10],[11],[15],[16],[27],[35],[38]
Number of Warrants Owned | Units		21,948	[2],[3],[9],[26],[34]	21,948	[10],[11],[17],[27],[35],[38]
Investment, Identifier [Axis]: GoNoodle, Inc. - Warrant for 47,324 Series C Preferred
Schedule of Investments [Line Items]
Date Acquired		Mar. 01, 2015	[2],[3],[4],[26],[34]	Mar. 01, 2015	[10],[11],[12],[27],[35],[38]
Cost		$ 25	[2],[3],[26],[34]	$ 25	[10],[11],[27],[35],[38]
Fair Value		$ 25	[2],[3],[5],[7],[8],[26],[34]	$ 25	[10],[11],[15],[16],[27],[35],[38]
Number of Warrants Owned | Units		47,324	[2],[3],[9],[26],[34]	47,324	[10],[11],[17],[27],[35],[38]
Investment, Identifier [Axis]: HDI Acquisition LLC. - $1,245,119 Term Loan
Schedule of Investments [Line Items]
Date Acquired		Nov. 08, 2019	[2],[3],[4],[26],[30],[31]	Nov. 08, 2019	[10],[11],[12],[27],[35]
Equity		0%	[2],[3],[6],[26],[30],[31]	0%	[10],[11],[14],[27],[35]
Cost		$ 1,050,305	[2],[3],[26],[30],[31]	$ 1,327,782	[10],[11],[27],[35]
Fair Value		$ 1,050,305	[2],[3],[5],[7],[8],[26],[30],[31]	$ 1,327,782	[10],[11],[15],[16],[27],[35]
Percent of Net Assets		1.70%	[2],[3],[26],[30],[31]	2.30%	[10],[11],[27],[35]
Principle Amount		$ 1,245,119	[2],[3],[9],[26],[30],[31]	$ 1,245,119	[10],[11],[17],[27],[35]
Interest Rate		12%	[2],[3],[9],[26],[30],[31]	12%	[10],[11],[17],[27],[35]
Reference Rate and Spread (+), PIK		2%	[2],[3],[9],[26],[30],[31]	2%	[10],[11],[17],[27],[35]
Due Date		Jun. 30, 2025	[2],[3],[9],[26],[30],[31]	Jun. 20, 2023	[10],[11],[17],[27],[35]
Investment, Identifier [Axis]: Highland All About People Holdings, Inc.
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[30]	$ 4,049,187
Fair Value	[2],[7],[8],[24],[26],[30]	4,049,187
Gross Additions	[18]	4,049,187
Amount of Interest/Dividend/Fee Income	[22]	201,524
Investment, Identifier [Axis]: Highland All About People Holdings, Inc. $3,000,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		3,049,187
Principle Amount		$ 3,000,000
Interest Rate		12%
Reference Rate and Spread (+), PIK		4%
Due Date		Aug. 07, 2028
Gross Additions	[18]	$ 3,049,187
Amount of Interest/Dividend/Fee Income	[22]	$ 201,524
Investment, Identifier [Axis]: Highland All About People Holdings, Inc. - $3,000,000 Term Note at 12%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[30]	Aug. 07, 2023
Equity	[2],[6],[24],[26],[30]	12%
Cost	[2],[24],[26],[30]	$ 3,049,187
Fair Value	[2],[7],[8],[24],[26],[30]	$ 3,049,187
Percent of Net Assets	[2],[24],[26],[30]	6.70%
Interest Rate	[2],[9],[24],[26],[30]	12%
Reference Rate and Spread (+), PIK	[2],[9],[24],[26],[30]	4%
Due Date	[2],[9],[24],[26],[30]	Aug. 07, 2028
Investment owned face amount	[2],[9],[24],[26],[30]	$ 3,000,000
Investment, Identifier [Axis]: Highland All About People Holdings, Inc. - 1,000,000 Class A Units
Schedule of Investments [Line Items]
Cost		1,000,000
Fair Value		$ 1,000,000
Number of Shares Owned | shares	[2],[9],[24],[26],[30]	1,000,000
Investment, Identifier [Axis]: Highland All About People Holdings, Inc. 1,000,000 Class A Units
Schedule of Investments [Line Items]
Fair Value		$ 1,000,000
Number of Shares Owned | shares		1,000,000
Gross Additions	[18]	$ 1,000,000
Investment, Identifier [Axis]: ITA Acquisition, LLC
Schedule of Investments [Line Items]
Cost		5,272,770	[2],[26],[29],[34],[37]	$ 4,660,017	[27],[32],[35],[36]
Fair Value		4,148,960	[2],[7],[8],[26],[29],[34],[37]	3,536,207	[15],[16],[27],[32],[35],[36]
Net Change in Unrealized Appreciation (Depreciation)				(748,810)
Gross Additions		612,753	[18]	4,285,017	[19]
Amount of Interest/Dividend/Fee Income		716,114	[22]	286,855	[23]
Investment, Identifier [Axis]: ITA Acquisition, LLC $1,500,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		1,652,252		$ 1,560,091
Principle Amount		$ 1,500,000
Interest Rate		12%
Reference Rate and Spread (+), PIK		2%
Due Date		Jun. 21, 2026
Gross Additions	[18]	$ 92,161
Amount of Interest/Dividend/Fee Income	[22]	$ 295,615
Investment, Identifier [Axis]: ITA Acquisition, LLC - $1,500,000 Term Note
Schedule of Investments [Line Items]
Date Acquired		Jun. 22, 2021	[2],[4],[26],[34],[37]	Jun. 22, 2021	[12],[27],[32],[35],[36]
Cost		$ 1,652,252	[2],[26],[29],[34],[37]	$ 1,560,091	[27],[32],[35],[36]
Fair Value		$ 1,652,252	[2],[7],[8],[26],[29],[34],[37]	1,560,091	[15],[16],[27],[32],[35],[36]	1,516,152
Principle Amount	[17],[27],[32],[35],[36]			$ 1,500,000
Interest Rate		12%	[2],[9],[26],[29],[34],[37]	12%	[17],[27],[32],[35],[36]
Reference Rate and Spread (+), PIK		2%	[2],[9],[26],[29],[34],[37]	2%	[17],[27],[32],[35],[36]
Due Date		Jun. 21, 2026	[2],[9],[26],[29],[34],[37]	Jun. 21, 2026	[17],[27],[32],[35],[36]
Investment owned face amount	[2],[9],[26],[29],[34],[37]	$ 1,500,000
Gross Additions	[19]			$ 23,151
Gross Reductions	[21]			(1,539,303)
Amount of Interest/Dividend/Fee Income	[23]			110,373
Investment, Identifier [Axis]: ITA Acquisition, LLC - $1,500,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value				1,560,091
Principle Amount				$ 1,500,000
Interest Rate				12%
Reference Rate and Spread (+), PIK				2%
Gross Additions	[19]			$ 1,560,091
Amount of Interest/Dividend/Fee Income	[23]			$ 127,117
Investment, Identifier [Axis]: ITA Acquisition, LLC - $1,500,000 Term Note at 12% (+5% PIK) through September 30, 2024
Schedule of Investments [Line Items]
Interest Rate	[2],[9],[26],[29],[34],[37]	12%
Reference Rate and Spread (+), PIK	[2],[9],[26],[29],[34],[37]	5%
Investment, Identifier [Axis]: ITA Acquisition, LLC - $1,900,000 Term Note
Schedule of Investments [Line Items]
Date Acquired	[12],[27],[32],[35],[36]			Jun. 22, 2021
Equity	[14],[27],[32],[35],[36]			37%
Cost	[27],[32],[35],[36]			$ 1,976,116
Fair Value				$ 1,976,116	[15],[16],[27],[32],[35],[36]	1,920,459
Percent of Net Assets	[27],[32],[35],[36]			6.10%
Principle Amount	[17],[27],[32],[35],[36]			$ 1,900,000
Interest Rate	[17],[27],[32],[35],[36]			12%
Reference Rate and Spread (+), PIK	[17],[27],[32],[35],[36]			2%
Due Date	[17],[27],[32],[35],[36]			Jun. 21, 2026
Gross Additions	[19]			$ 29,324
Gross Reductions	[21]			(1,949,783)
Amount of Interest/Dividend/Fee Income	[23]			139,547
Investment, Identifier [Axis]: ITA Acquisition, LLC - $1,900,000 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value				1,976,116
Principle Amount				$ 1,900,000
Interest Rate				12%
Reference Rate and Spread (+), PIK				2%
Due Date				Jun. 21, 2026
Gross Additions	[19]			$ 1,976,116
Amount of Interest/Dividend/Fee Income	[23]			159,738
Investment, Identifier [Axis]: ITA Acquisition, LLC - $2,297,808 Amended and Restated Term Note at 12%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[26],[34],[37]	Jun. 22, 2021
Equity	[2],[6],[26],[29],[34],[37]	37%
Cost	[2],[26],[29],[34],[37]	$ 2,496,708
Fair Value		$ 2,496,708	[2],[7],[8],[26],[29],[34],[37]	$ 1,976,116
Percent of Net Assets	[26],[29],[34],[37]	6.80%
Principle Amount		$ 2,297,808
Interest Rate	[2],[9],[26],[29],[34],[37]	12%
Reference Rate and Spread (+), PIK	[2],[9],[26],[29],[34],[37]	2%
Due Date	[2],[9],[26],[29],[34],[37]	Jun. 21, 2026
Investment owned face amount	[2],[9],[26],[29],[34],[37]	$ 2,297,808
Gross Additions	[18]	520,592
Amount of Interest/Dividend/Fee Income	[22]	$ 420,499
Investment, Identifier [Axis]: ITA Acquisition, LLC - $2,297,808 Amended and Restated Term Note at 12% (+5% PIK) through September 30, 2024
Schedule of Investments [Line Items]
Interest Rate	[2],[9],[26],[29],[34],[37]	12%
Reference Rate and Spread (+), PIK	[2],[9],[26],[29],[34],[37]	5%
Investment, Identifier [Axis]: ITA Acquisition, LLC - 1,124 Class A Preferred Units
Schedule of Investments [Line Items]
Number of Shares Owned | shares		1,124	[2],[9],[26],[29],[34],[37]	1,124	[17],[27],[32],[35],[36]
Net Change in Unrealized Appreciation (Depreciation)				$ (748,810)
Gross Additions	[19]			$ 748,810
Investment, Identifier [Axis]: ITA Acquisition, LLC - 1,124 Class A Preferred Units and 1,924 Class B Common Units
Schedule of Investments [Line Items]
Date Acquired		Jun. 22, 2021	[2],[4],[26],[34],[37]	Jun. 22, 2021	[12],[27],[32],[35],[36]
Cost		$ 1,123,810	[2],[26],[29],[34],[37]	$ 1,123,810	[27],[32],[35],[36]
Fair Value						125,000
Gross Additions	[19]			623,810
Gross Reductions	[21]			$ (748,810)
Investment, Identifier [Axis]: ITA Acquisition, LLC - 1,924 Class B Common Units
Schedule of Investments [Line Items]
Number of Shares Owned | shares		1,924	[2],[9],[26],[29],[34],[37]	1,924	[17],[27],[32],[35],[36]
Investment, Identifier [Axis]: ITA Acquisition, LLC 1,124 ITA Acquisition, LLC - 1,924 Class B Common Units.
Schedule of Investments [Line Items]
Number of Shares Owned | shares		1,924
Investment, Identifier [Axis]: Inter-National Electronic Alloys LLC
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[29],[30]	$ 4,349,839
Fair Value	[2],[7],[8],[24],[26],[29],[30]	4,349,839
Gross Additions	[18]	4,349,839
Amount of Interest/Dividend/Fee Income	[22]	358,736
Investment, Identifier [Axis]: Inter-National Electronic Alloys LLC $3,288,235 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		3,338,074
Principle Amount		$ 3,288,235
Interest Rate		12%
Reference Rate and Spread (+), PIK		2%
Due Date		Apr. 04, 2028
Gross Additions	[18]	$ 3,338,074
Amount of Interest/Dividend/Fee Income	[22]	$ 358,736
Investment, Identifier [Axis]: Inter-National Electronic Alloys LLC - $3,288,235 Term Note at 12%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30]	Apr. 04, 2023
Equity	[2],[6],[24],[26],[29],[30]	6%
Cost	[2],[24],[26],[29],[30]	$ 3,338,074
Fair Value	[2],[7],[8],[24],[26],[29],[30]	$ 3,338,074
Percent of Net Assets	[2],[24],[26],[29],[30]	7.10%
Interest Rate	[2],[9],[24],[26],[29],[30]	12%
Reference Rate and Spread (+), PIK	[2],[9],[24],[26],[29],[30]	2%
Due Date	[2],[9],[24],[26],[29],[30]	Apr. 04, 2028
Investment owned face amount	[2],[9],[24],[26],[29],[30]	$ 3,288,235
Investment, Identifier [Axis]: Inter-National Electronic Alloys LLC - 75.3 Class B Preferred Units
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[29],[30]	Apr. 04, 2023
Cost	[2],[24],[26],[29],[30]	$ 1,011,765
Fair Value	[2],[7],[8],[24],[26],[29],[30]	$ 1,011,765
Number of Shares Owned | shares	[2],[9],[24],[26],[29],[30]	75.3
Investment, Identifier [Axis]: Inter-National Electronic Alloys LLC 75.3 Class B Preferred Units
Schedule of Investments [Line Items]
Fair Value		$ 1,011,765
Number of Shares Owned | shares		75.3
Gross Additions	[18]	$ 1,011,765
Investment, Identifier [Axis]: Investments - 106.6 %
Schedule of Investments [Line Items]
Cost	[10],[25]			$ 55,716,237
Fair Value	[15],[16]			$ 61,504,259
Percent of Net Assets				106.60%
Investment, Identifier [Axis]: Investments, NET ASSETS - 100%
Schedule of Investments [Line Items]
Net Assets		$ 60,815,213	[7],[8],[29],[34]	$ 57,721,320	[15],[16]
Percent of Net Assets		100%		100%
Investment, Identifier [Axis]: Knoa
Schedule of Investments [Line Items]
Cost	[10],[13],[25],[27]			$ 1,229,155
Fair Value	[10],[13],[15],[16],[25],[27]			100,000
Investment, Identifier [Axis]: Knoa Software, Inc.
Schedule of Investments [Line Items]
Cost	[2],[5],[24],[26]	$ 1,229,155
Fair Value		100,000	[2],[5],[7],[8],[24],[26]	100,000		479,155
Net Change in Unrealized Appreciation (Depreciation)				$ (379,155)
Amount of Interest/Dividend/Fee Income	[22]	$ 34,850
Investment, Identifier [Axis]: Knoa Software, Inc. - 1,876,922 Series B Preferred
Schedule of Investments [Line Items]
Date Acquired		Jun. 09, 2014	[2],[4],[5],[24],[26]	Jun. 09, 2014	[10],[12],[13],[25],[27]
Cost		$ 479,155	[2],[5],[24],[26]	$ 479,155	[10],[13],[25],[27]
Fair Value		$ 100,000	[2],[5],[7],[8],[24],[26]	$ 100,000	[10],[13],[15],[16],[25],[27]	479,155
Number of Shares Owned | shares		1,876,922	[2],[5],[9],[24],[26]	1,876,922	[10],[13],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ (379,155)
Investment, Identifier [Axis]: Knoa Software, Inc. - 973,533 Series A-1 Convertible Preferred
Schedule of Investments [Line Items]
Date Acquired		Nov. 20, 2012	[2],[4],[5],[24],[26]	Nov. 20, 2012	[10],[12],[13],[25],[27]
Equity		7%	[2],[5],[6],[24],[26]	7%	[10],[13],[14],[25],[27]
Cost		$ 750,000	[2],[5],[24],[26]	$ 750,000	[10],[13],[25],[27]
Percent of Net Assets		0.20%	[2],[5],[24],[26]	0.20%	[10],[13],[25],[27]
Number of Shares Owned | shares		973,533	[2],[5],[9],[24],[26]	973,533	[10],[13],[17],[25],[27]
Amount of Interest/Dividend/Fee Income	[22]	$ 34,850
Investment, Identifier [Axis]: LIABILITIES IN EXCESS OF OTHER ASSETS - (26.8%)
Schedule of Investments [Line Items]
Liabilities in Excess of Other Assets	[7],[8],[29],[34]	$ (16,310,499)
Percentage of Liabilities in excess of other assets		(26.80%)
Investment, Identifier [Axis]: LIABILITIES IN EXCESS OF OTHER ASSETS - (6.6%)
Schedule of Investments [Line Items]
Liabilities in Excess of Other Assets	[15],[16]			$ (3,782,939)
Percentage of Liabilities in excess of other assets				(6.60%)
Investment, Identifier [Axis]: Lumious - $850,000 Replacement Term Note
Schedule of Investments [Line Items]
Date Acquired		Nov. 16, 2018	[2],[3],[4],[26]	Nov. 16, 2018	[10],[11],[12],[27],[38]
Equity		0%	[2],[3],[6],[26]	0%	[10],[11],[14],[27],[38]
Cost		$ 789,944	[2],[3],[26]	$ 789,944	[10],[11],[27],[38]
Fair Value		$ 789,944	[2],[3],[5],[7],[8],[26]	$ 789,944	[10],[11],[15],[16],[27],[38]
Percent of Net Assets		1.30%	[2],[3],[26]	1.40%	[10],[11],[27],[38]
Principle Amount		$ 850,000	[2],[3],[9],[26]	$ 850,000	[10],[11],[17],[27],[38]
Interest Rate		14%	[2],[3],[9],[26]	14%	[10],[11],[17],[27],[38]
Due Date		Dec. 01, 2024	[2],[3],[9],[26]	Nov. 15, 2023	[10],[11],[17],[27],[38]
Investment, Identifier [Axis]: Mattison Avenue Holdings LLC. - $1,794,944 Third Amended, Restated and Consolidated Promissory Note
Schedule of Investments [Line Items]
Date Acquired		Jun. 23, 2021	[2],[3],[4],[26],[30]	Jun. 23, 2021	[10],[11],[12],[27],[35]
Equity		0%	[2],[3],[6],[26],[30]	0%	[10],[11],[14],[27],[35]
Cost		$ 1,894,470	[2],[3],[26],[30]	$ 1,856,536	[10],[11],[27],[35]
Fair Value		$ 1,894,470	[2],[3],[5],[7],[8],[26],[30]	$ 1,856,536	[10],[11],[15],[16],[27],[35]
Percent of Net Assets		3.10%	[2],[3],[26],[30]	3.20%	[10],[11],[27],[35]
Principle Amount		$ 1,794,944	[2],[3],[9],[26],[30]	$ 1,794,944	[10],[11],[17],[27],[35]
Interest Rate		12%	[2],[3],[9],[26],[30]	12%	[10],[11],[17],[27],[35]
Reference Rate and Spread (+), PIK		2%	[2],[3],[9],[26],[30]	2%	[10],[11],[17],[27],[35]
Due Date		Jan. 31, 2024	[2],[3],[9],[26],[30]	Dec. 09, 2023	[10],[11],[17],[27],[35]
Investment, Identifier [Axis]: Mezmeriz, Inc. - 1,554,565 Series Seed Preferred
Schedule of Investments [Line Items]
Date Acquired		May 14, 2015	[2],[4],[5],[24],[26]	May 14, 2015	[10],[12],[13],[25],[27]
Equity		12%	[2],[5],[6],[24],[26]	12%	[10],[13],[14],[25],[27]
Cost		$ 742,850	[2],[5],[24],[26]	$ 742,850	[10],[13],[25],[27]
Percent of Net Assets		0%	[2],[5],[24],[26]	0%	[10],[13],[25],[27]
Number of Shares Owned | shares		1,554,565	[2],[5],[9],[24],[26]	1,554,565	[10],[13],[17],[25],[27]
Investment, Identifier [Axis]: Microcision - Membership Interest Purchase Warrant for 5%
Schedule of Investments [Line Items]
Fair Value						85,000
Gross Reductions	[21]			$ (85,000)
Net Realized Gains (Losses)				$ 190,000
Investment, Identifier [Axis]: Microcision - Warrant for 4% Membership Interest
Schedule of Investments [Line Items]
Membership Interest				5%
Investment, Identifier [Axis]: Microcision LLC - Membership Interest Purchase Warrant for 5%
Schedule of Investments [Line Items]
Membership Interest		5%
Net Realized Gains (Losses)		$ 115,010
Investment, Identifier [Axis]: Nailbiter, Inc.
Schedule of Investments [Line Items]
Cost		2,250,000	[2],[3],[26]	$ 2,250,000	[10],[11],[27]
Fair Value		$ 2,250,000	[2],[3],[7],[8],[26]	$ 2,250,000	[10],[11],[15],[16],[27]
Investment, Identifier [Axis]: Nailbiter, Inc. - $2,250,000 Subordinated Secured Promissory Note
Schedule of Investments [Line Items]
Date Acquired		Nov. 22, 2021	[2],[3],[4],[26]	Nov. 22, 2021	[10],[11],[12],[27]
Equity		1%	[2],[3],[6],[26]	1%	[10],[11],[14],[27]
Cost		$ 2,250,000	[2],[3],[26]	$ 2,250,000	[10],[11],[27]
Fair Value		$ 2,250,000	[2],[3],[7],[8],[26]	$ 2,250,000	[10],[11],[15],[16],[27]
Percent of Net Assets		3.70%	[2],[3],[26]	3.90%	[10],[11],[27]
Principle Amount	[10],[11],[17],[27]			$ 2,250,000
Interest Rate		9%	[2],[3],[9],[26]	9%	[10],[11],[17],[27]
Due Date		Nov. 23, 2024	[2],[3],[9],[26]	Nov. 23, 2024	[10],[11],[17],[27]
Investment owned face amount	[2],[3],[9],[26]	$ 2,250,000
Investment, Identifier [Axis]: Nailbiter, Inc. - Interest Receivable $50,092
Schedule of Investments [Line Items]
Interest Receivable	[2],[3],[9],[26],[34]	$ 50,092
Investment, Identifier [Axis]: Nailbiter, Inc. - Warrants for Preferred Stock
Schedule of Investments [Line Items]
Date Acquired	[2],[3],[4],[26]	Nov. 22, 2021
Investment, Identifier [Axis]: New Monarch Machine Tool, Inc. - 22.84 Common
Schedule of Investments [Line Items]
Number of Shares Owned | shares				22.84
Net Realized Gains (Losses)				$ (22,841)
Investment, Identifier [Axis]: Non-Control/Non-Affiliate Investments - Net assets
Schedule of Investments [Line Items]
Percent of Net Assets		32%	[2],[3]	34.20%	[10],[11]
Investment, Identifier [Axis]: OnCore Golf Technology, Inc. - 300,483 Preferred AA
Schedule of Investments [Line Items]
Date Acquired		Nov. 30, 2018	[2],[3],[4],[5],[26]	Nov. 30, 2018	[10],[11],[12],[13],[27]
Equity		3%	[2],[3],[5],[6],[26]	3%	[10],[11],[13],[14],[27]
Cost		$ 752,712	[2],[3],[5],[26]	$ 752,712	[10],[11],[13],[27]
Fair Value		$ 100,000	[2],[3],[5],[7],[8],[26]	$ 100,000	[10],[11],[13],[15],[16],[27]
Percent of Net Assets		0.20%	[2],[3],[5],[26]	0.20%	[10],[11],[13],[27]
Number of Shares Owned | shares		300,483	[2],[3],[5],[9],[26]	300,483	[10],[11],[13],[17],[27]
Investment, Identifier [Axis]: Open Exchange
Schedule of Investments [Line Items]
Cost		$ 1,401,940	[2],[3],[5],[26]	$ 1,401,940	[10],[11],[13],[27]
Fair Value		$ 700,000	[2],[3],[5],[7],[8],[26]	$ 1,401,940	[10],[11],[13],[15],[16],[27]
Investment, Identifier [Axis]: Open Exchange, Inc - 397,899 Common
Schedule of Investments [Line Items]
Date Acquired		Oct. 22, 2019	[2],[3],[4],[5],[26]	Oct. 22, 2019	[10],[11],[12],[13],[27]
Cost		$ 208,243	[2],[3],[5],[26]	$ 208,243	[10],[11],[13],[27]
Fair Value	[10],[11],[13],[15],[16],[27]			$ 208,243
Number of Shares Owned | shares		397,899	[2],[3],[5],[9],[26]	397,899	[10],[11],[13],[17],[27]
Investment, Identifier [Axis]: Open Exchange, Inc - 397,899 Series C Preferred
Schedule of Investments [Line Items]
Date Acquired		Nov. 13, 2013	[2],[3],[4],[5],[26]	Nov. 13, 2013	[10],[11],[12],[13],[27]
Equity		3%	[2],[3],[5],[6],[26]	3%	[10],[11],[13],[14],[27]
Cost		$ 1,193,697	[2],[3],[5],[26]	$ 1,193,697	[10],[11],[13],[27]
Fair Value		$ 700,000	[2],[3],[5],[7],[8],[26]	$ 1,193,697	[10],[11],[13],[15],[16],[27]
Percent of Net Assets		1.10%	[2],[3],[5],[26]	2.40%	[10],[11],[13],[27]
Number of Shares Owned | shares		397,899	[2],[3],[5],[9],[26]	397,899	[10],[11],[13],[17],[27]
Investment, Identifier [Axis]: PennantPark Investment Corporation - 195,000 shares
Schedule of Investments [Line Items]
Date Acquired		Aug. 13, 2020	[2],[3],[4],[26],[28]	Aug. 13, 2020	[10],[11],[12],[33]
Equity		1%	[2],[3],[6],[26],[28]	1%	[10],[11],[14],[33]
Cost		$ 892,212	[2],[3],[26],[28]	$ 892,212	[10],[11],[33]
Fair Value		$ 1,347,450	[2],[3],[7],[8],[26],[28]	$ 1,109,550	[10],[11],[15],[16],[33]
Percent of Net Assets		2.20%	[2],[3],[26],[28]	1.90%	[10],[11],[33]
Number of Shares Owned | shares		195,000	[2],[3],[9],[26],[28]	195,000	[10],[11],[17],[33]
Value of shares owned per share | $ / shares		$ 6.91	[2],[3],[9],[26],[28]	$ 5.69	[10],[11],[17],[33]
Investment, Identifier [Axis]: PostProcess Technologies, Inc. - 360,002 Series A1 Preferred
Schedule of Investments [Line Items]
Date Acquired		Nov. 01, 2019	[2],[3],[4],[5],[26]	Nov. 01, 2019	[10],[11],[12],[13],[27]
Equity		1%	[2],[3],[5],[6],[26]	1%	[10],[11],[13],[14],[27]
Cost		$ 348,875	[2],[3],[5],[26]	$ 348,875	[10],[11],[13],[27]
Fair Value	[10],[11],[13],[15],[16],[27]			$ 100,000
Percent of Net Assets		0%	[2],[3],[5],[26]	0.20%	[10],[11],[13],[27]
Number of Shares Owned | shares		360,002	[2],[3],[5],[9],[26]	360,002	[10],[11],[13],[17],[27]
Investment, Identifier [Axis]: Pressure Pro, Inc.
Schedule of Investments [Line Items]
Cost	[2],[24],[26],[30]	$ 3,093,436
Fair Value	[2],[7],[8],[24],[26],[30]	3,093,436
Gross Additions	[18]	3,093,436
Amount of Interest/Dividend/Fee Income	[22]	$ 474,582
Investment, Identifier [Axis]: Pressure Pro, Inc. - $3,000,000 Term Note at 12%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[30]	Jan. 19, 2023
Equity	[2],[6],[24],[26],[30]	10%
Cost	[2],[24],[26],[30]	$ 3,063,436
Fair Value	[2],[7],[8],[24],[26],[30]	$ 3,063,436
Percent of Net Assets	[2],[24],[26],[30]	5.10%
Interest Rate	[2],[9],[24],[26],[30]	12%
Reference Rate and Spread (+), PIK	[2],[9],[24],[26],[30]	3%
Due Date	[2],[9],[24],[26],[30]	Jan. 19, 2028
Investment owned face amount	[2],[9],[24],[26],[30]	$ 3,000,000
Gross Additions	[18]	3,063,436
Amount of Interest/Dividend/Fee Income	[22]	$ 474,582
Investment, Identifier [Axis]: Pressure Pro, Inc. - Warrant for 10% Membership Interest
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26],[30]	Jan. 19, 2023
Cost	[2],[24],[26],[30]	$ 30,000
Fair Value	[2],[7],[8],[24],[26],[30]	$ 30,000
Membership Interest	[2],[9],[24],[26],[30]	10%
Gross Additions	[18]	$ 30,000
Investment, Identifier [Axis]: Rheonix, Inc.
Schedule of Investments [Line Items]
Cost	[10],[11],[13],[27]			$ 2,802,731
Investment, Identifier [Axis]: Rheonix, Inc. - 1,839,422 Series A Preferred
Schedule of Investments [Line Items]
Date Acquired	[10],[11],[12],[13],[27]			Dec. 12, 2013
Cost	[10],[11],[13],[27]			$ 2,099,999
Number of Shares Owned | shares	[10],[11],[13],[17],[27]			1,839,422
Investment, Identifier [Axis]: Rheonix, Inc. - 50,593 Common
Schedule of Investments [Line Items]
Date Acquired	[10],[11],[12],[13],[27]			Oct. 24, 2009
Number of Shares Owned | shares	[10],[11],[13],[17],[27]			50,593
Investment, Identifier [Axis]: Rheonix, Inc. - 589,420 Series B Preferred
Schedule of Investments [Line Items]
Date Acquired	[10],[11],[12],[13],[27]			Sep. 29, 2015
Cost	[10],[11],[13],[27]			$ 702,732
Number of Shares Owned | shares	[10],[11],[13],[17],[27]			589,420
Investment, Identifier [Axis]: Rheonix, Inc. - 9,676 Common
Schedule of Investments [Line Items]
Date Acquired	[10],[11],[12],[13],[27]			Oct. 29, 2009
Equity	[10],[11],[13],[14],[27]			4%
Percent of Net Assets	[10],[11],[13],[27]			0%
Number of Shares Owned | shares	[10],[11],[13],[17],[27]			9,676
Investment, Identifier [Axis]: SciAps
Schedule of Investments [Line Items]
Cost	[10],[25],[27]			$ 5,208,984
Fair Value	[10],[15],[16],[25],[27]			5,208,984
Investment, Identifier [Axis]: SciAps, Inc.
Schedule of Investments [Line Items]
Cost	[2],[24],[26]	5,213,984
Fair Value		5,213,984	[2],[7],[8],[24],[26]	5,208,984		2,451,000
Net Change in Unrealized Appreciation (Depreciation)				2,152,984
Gross Additions		5,000	[18]	605,000	[19]
Amount of Interest/Dividend/Fee Income		$ 261,300	[22]	231,520	[23]
Investment, Identifier [Axis]: SciAps, Inc. - $2,090,000 Second Amended and Restated Secured Subordinated Promissory Note at 12%
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26]	Aug. 20, 2021
Cost	[2],[24],[26]	$ 2,090,000
Fair Value		2,090,000	[2],[7],[8],[24],[26]	2,085,000		1,480,000
Principle Amount		$ 2,090,000		$ 2,090,000
Interest Rate		12%	[2],[9],[24],[26]	12%
Due Date		Aug. 20, 2024	[2],[9],[24],[26]	Aug. 20, 2024
Investment owned face amount	[2],[9],[24],[26]	$ 2,090,000
Gross Additions		5,000	[18]	$ 605,000	[19]
Amount of Interest/Dividend/Fee Income		$ 261,300	[22]	$ 231,520	[23]
Investment, Identifier [Axis]: SciAps, Inc. - $2,090,000 Subordinated Promissory Note
Schedule of Investments [Line Items]
Date Acquired	[10],[12],[25],[27]			Aug. 20, 2021
Cost	[10],[25],[27]			$ 2,085,000
Fair Value	[10],[15],[16],[25],[27]			2,085,000
Principle Amount	[10],[17],[25],[27]			$ 2,090,000
Interest Rate	[10],[17],[25],[27]			12%
Due Date	[10],[17],[25],[27]			Aug. 20, 2024
Investment, Identifier [Axis]: SciAps, Inc. - 113,636 Series C Convertible Preferred
Schedule of Investments [Line Items]
Date Acquired		Apr. 07, 2016	[2],[4],[24],[26]	Apr. 07, 2016	[10],[12],[25],[27]
Cost		$ 175,000	[2],[24],[26]	$ 175,000	[10],[25],[27]
Fair Value		$ 175,000	[2],[7],[8],[24],[26]	$ 175,000	[10],[15],[16],[25],[27]	84,000
Number of Shares Owned | shares		113,636	[2],[9],[24],[26]	113,636	[10],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ 91,000
Investment, Identifier [Axis]: SciAps, Inc. - 117,371 Series B Convertible Preferred
Schedule of Investments [Line Items]
Date Acquired		Aug. 31, 2015	[2],[4],[24],[26]	Aug. 31, 2015	[10],[12],[25],[27]
Cost		$ 250,000	[2],[24],[26]	$ 250,000	[10],[25],[27]
Fair Value		$ 250,000	[2],[7],[8],[24],[26]	$ 250,000	[10],[15],[16],[25],[27]	124,000
Number of Shares Owned | shares		117,371	[2],[9],[24],[26]	117,371	[10],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ 126,000
Investment, Identifier [Axis]: SciAps, Inc. - 147,059 Series D Convertible Preferred
Schedule of Investments [Line Items]
Date Acquired		May 09, 2017	[2],[4],[24],[26]	May 09, 2017	[10],[12],[25],[27]
Cost		$ 250,000	[2],[24],[26]	$ 250,000	[10],[25],[27]
Fair Value		$ 250,000	[2],[7],[8],[24],[26]	$ 250,000	[10],[15],[16],[25],[27]	250,000
Number of Shares Owned | shares		147,059	[2],[9],[24],[26]	147,059	[10],[17],[25],[27]
Investment, Identifier [Axis]: SciAps, Inc. - 187,500 Series A Preferred
Schedule of Investments [Line Items]
Date Acquired		Jul. 12, 2013	[2],[4],[24],[26]	Jul. 12, 2013	[10],[12],[25],[27]
Equity		6%	[2],[6],[24],[26]	6%	[10],[14],[25],[27]
Cost		$ 1,500,000	[2],[24],[26]	$ 1,500,000	[10],[25],[27]
Fair Value		$ 1,500,000	[2],[7],[8],[24],[26]	$ 1,500,000	[10],[15],[16],[25],[27]	210,000
Percent of Net Assets		8.60%	[2],[24],[26]	9%	[10],[25],[27]
Number of Shares Owned | shares		187,500	[2],[9],[24],[26]	187,500	[10],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ 1,290,000
Investment, Identifier [Axis]: SciAps, Inc. - 274,299 Series A1 Convertible Preferred
Schedule of Investments [Line Items]
Date Acquired		Apr. 04, 2014	[2],[4],[24],[26]	Apr. 04, 2014	[10],[12],[25],[27]
Cost		$ 504,710	[2],[24],[26]	$ 504,710	[10],[25],[27]
Fair Value		$ 504,710	[2],[7],[8],[24],[26]	$ 504,710	[10],[15],[16],[25],[27]	96,000
Number of Shares Owned | shares		274,299	[2],[9],[24],[26]	274,299	[10],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ 408,710
Investment, Identifier [Axis]: SciAps, Inc. - 369,698 Series C1 Convertible Preferred
Schedule of Investments [Line Items]
Date Acquired		Apr. 07, 2016	[2],[4],[24],[26]	Apr. 07, 2016	[10],[12],[25],[27]
Cost		$ 399,274	[2],[24],[26]	$ 399,274	[10],[25],[27]
Fair Value		$ 399,274	[2],[7],[8],[24],[26]	$ 399,274	[10],[15],[16],[25],[27]	207,000
Number of Shares Owned | shares		369,698	[2],[9],[24],[26]	369,698	[10],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ 192,274
Investment, Identifier [Axis]: SciAps, Inc. - Warrant to purchase Series D-1 Preferred
Schedule of Investments [Line Items]
Date Acquired		May 09, 2017	[2],[4],[24],[26]	May 09, 2017	[10],[12],[25],[27]
Cost		$ 45,000	[2],[24],[26]	$ 45,000	[10],[25],[27]
Fair Value		45,000	[2],[7],[8],[24],[26]	45,000	[10],[15],[16],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				45,000
Investment, Identifier [Axis]: Seybert’s
Schedule of Investments [Line Items]
Cost		5,994,530	[2],[24],[26],[30]	5,868,961	[10],[25],[27],[35]
Fair Value		5,994,530	[2],[7],[8],[24],[26],[30]	5,868,961	[10],[15],[16],[25],[27],[35]
Investment, Identifier [Axis]: Seybert’s Billiards Corporation
Schedule of Investments [Line Items]
Fair Value		5,994,530		5,868,961		3,364,465
Gross Additions		125,569	[18]	2,504,496	[19]
Amount of Interest/Dividend/Fee Income		$ 854,384	[22]	$ 749,097	[23]
Investment, Identifier [Axis]: Seybert’s Billiards Corporation - $1,435,435 Term Note
Schedule of Investments [Line Items]
Date Acquired		Jan. 19, 2021	[2],[4],[24],[26],[30]	Jan. 19, 2021	[10],[12],[25],[27],[35]
Cost		$ 1,475,613	[2],[24],[26],[30]	$ 1,440,855	[10],[25],[27],[35]
Fair Value		$ 1,475,613	[2],[7],[8],[24],[26],[30]	1,440,855	[10],[15],[16],[25],[27],[35]
Principle Amount	[10],[17],[25],[27],[35]			$ 1,435,435
Interest Rate		12%	[2],[9],[24],[26],[30]	12%	[10],[17],[25],[27],[35]
Reference Rate and Spread (+), PIK		2%	[2],[9],[24],[26],[30]	2%	[10],[17],[25],[27],[35]
Due Date		Jan. 19, 2026	[2],[9],[24],[26],[30]	Jan. 19, 2026	[10],[17],[25],[27],[35]
Investment owned face amount	[2],[9],[24],[26],[30]	$ 1,435,435
Investment, Identifier [Axis]: Seybert’s Billiards Corporation - $1,435,435 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		1,475,613		$ 1,440,855		1,406,690
Principle Amount		$ 1,435,435		$ 1,435,435
Interest Rate		12%		12%
Reference Rate and Spread (+), PIK		2%		2%
Due Date		Jan. 19, 2026		Jan. 19, 2026
Gross Additions		$ 34,758	[18]	$ 34,165	[19]
Amount of Interest/Dividend/Fee Income		220,890	[22]	216,720	[23]
Investment, Identifier [Axis]: Seybert’s Billiards Corporation - $4,139,444 Term Note at 12%
Schedule of Investments [Line Items]
Fair Value		4,274,917		4,184,106		1,907,775
Principle Amount		$ 4,139,444		$ 4,139,444
Interest Rate		12%		12%
Reference Rate and Spread (+), PIK		2%		2%
Due Date		Jan. 19, 2026		Jan. 19, 2026
Gross Additions		$ 90,811	[18]	$ 2,276,331	[19]
Amount of Interest/Dividend/Fee Income		$ 633,494	[22]	$ 532,377	[23]
Investment, Identifier [Axis]: Seybert’s Billiards Corporation - 4,139,444 Term Note
Schedule of Investments [Line Items]
Date Acquired		Nov. 22, 2021	[2],[4],[24],[26],[30]	Nov. 22, 2021	[10],[12],[25],[27],[35]
Equity		8%	[2],[6],[24],[26],[30]	8%	[10],[14],[25],[27],[35]
Cost		$ 4,274,917	[2],[24],[26],[30]	$ 4,184,106	[10],[25],[27],[35]
Fair Value		$ 4,274,917	[2],[7],[8],[24],[26],[30]	$ 4,184,106	[10],[15],[16],[25],[27],[35]
Percent of Net Assets		9.80%	[2],[24],[26],[30]	10.20%	[10],[25],[27],[35]
Principle Amount	[10],[17],[25],[27],[35]			$ 4,139,444
Interest Rate		12%	[2],[9],[24],[26],[30]	12%	[10],[17],[25],[27],[35]
Reference Rate and Spread (+), PIK		2%	[2],[9],[24],[26],[30]	2%	[10],[17],[25],[27],[35]
Due Date		Jan. 19, 2026	[2],[9],[24],[26],[30]	Jan. 19, 2026	[10],[17],[25],[27],[35]
Investment owned face amount	[2],[9],[24],[26],[30]	$ 4,139,444
Investment, Identifier [Axis]: Seybert’s Billiards Corporation - 5.82 Common shares
Schedule of Investments [Line Items]
Date Acquired		Oct. 24, 2022	[2],[4],[24],[26],[30]	Oct. 24, 2022	[10],[12],[25],[27],[35]
Cost		$ 194,000	[2],[24],[26],[30]	$ 194,000	[10],[25],[27],[35]
Fair Value		$ 194,000	[2],[7],[8],[24],[26],[30]	$ 194,000	[10],[15],[16],[25],[27],[35]
Number of Shares Owned | shares		5.82	[2],[9],[24],[26],[30]	5.82	[10],[17],[25],[27],[35]
Gross Additions	[19]			$ 194,000
Investment, Identifier [Axis]: Seybert’s Billiards Corporation - Warrant for 4% Membership Interest
Schedule of Investments [Line Items]
Date Acquired		Jan. 19, 2021	[2],[4],[24],[26],[30]	Jan. 19, 2021	[10],[12],[25],[27],[35]
Cost		$ 25,000	[2],[24],[26],[30]	$ 25,000	[10],[25],[27],[35]
Fair Value		$ 25,000	[2],[7],[8],[24],[26],[30]	$ 25,000	[10],[15],[16],[25],[27],[35]	25,000
Membership Interest		4%	[2],[9],[24],[26],[30]	4%	[10],[17],[25],[27],[35]
Investment, Identifier [Axis]: Somerset Gas Transmission Company, LLC - 26.5337 Units
Schedule of Investments [Line Items]
Date Acquired	[10],[11],[12],[13],[27],[32]			Apr. 01, 2005
Equity	[10],[11],[13],[14],[27],[32]			3%
Cost	[10],[11],[13],[27],[32]			$ 719,097
Fair Value	[10],[11],[13],[15],[16],[27],[32]			$ 125,000
Percent of Net Assets	[10],[11],[13],[27],[32]			0.20%
Number of Shares Owned | shares	[10],[11],[13],[17],[27],[32]			26.5337
Investment, Identifier [Axis]: Subtotal Affiliate Investments
Schedule of Investments [Line Items]
Cost		$ 45,720,974	[2],[24]	$ 30,204,160	[10],[25]
Fair Value		53,499,372	[2],[7],[8],[24]	38,241,589	[10],[15],[16],[25]
Investment, Identifier [Axis]: Subtotal Control Investments
Schedule of Investments [Line Items]
Cost		5,272,770	[2],[29],[34]	4,660,017	[36]
Fair Value		4,148,960	[2],[7],[8],[29],[34]	3,536,207	[15],[16],[36]
Investment, Identifier [Axis]: Subtotal Non-Control/Non-Affiliate Investments
Schedule of Investments [Line Items]
Cost		17,371,862	[2],[3]	20,852,060	[10],[11]
Fair Value		19,477,380	[2],[3],[7],[8]	19,726,463	[10],[11],[15],[16]
Investment, Identifier [Axis]: TOTAL INVESTMENTS – 126.8%
Schedule of Investments [Line Items]
Cost	[29],[34]	68,365,606
Fair Value	[7],[8],[29],[34]	$ 77,125,712
Percent of Net Assets		126.80%
Investment, Identifier [Axis]: Tilson Technology Management, Inc.
Schedule of Investments [Line Items]
Cost		$ 3,100,015	[2],[24],[26]	2,850,015	[10],[25],[27]
Fair Value		10,550,000	[2],[7],[8],[24],[26]	10,300,000	[10],[15],[16],[25],[27]	8,925,015
Net Change in Unrealized Appreciation (Depreciation)				1,374,985
Gross Additions	[18]	250,000
Amount of Interest/Dividend/Fee Income		$ 52,501	[22]	$ 52,500	[23]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - *120,000 Series B Preferred
Schedule of Investments [Line Items]
Date Acquired		Jan. 20, 2015	[2],[4],[24],[26]	Jan. 20, 2015	[10],[12],[25],[27]
Equity		9%	[2],[6],[24],[26]	9%	[10],[14],[25],[27]
Cost		$ 600,000	[2],[24],[26]	$ 600,000	[10],[25],[27]
Fair Value		$ 4,559,500	[2],[7],[8],[24],[26]	$ 4,559,500	[10],[15],[16],[25],[27]
Percent of Net Assets		17.30%	[2],[24],[26]	17.80%	[10],[25],[27]
Number of Shares Owned | shares		120,000	[2],[9],[24],[26]	120,000	[10],[17],[25],[27]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - *15,385 Series E Preferred
Schedule of Investments [Line Items]
Date Acquired		Mar. 15, 2019	[2],[4],[24],[26]	Mar. 15, 2019	[10],[12],[25],[27]
Cost		$ 500,012	[2],[24],[26]	$ 500,012	[10],[25],[27]
Fair Value		$ 584,500	[2],[7],[8],[24],[26]	$ 584,500	[10],[15],[16],[25],[27]
Number of Shares Owned | shares		15,385	[2],[9],[24],[26]	15,385	[10],[17],[25],[27]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - *2.5% dividend payable quarterly
Schedule of Investments [Line Items]
Dividend payable quarterly		2.50%	[2],[9],[24]	2.50%	[10],[17],[25]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - *21,391 Series C Preferred
Schedule of Investments [Line Items]
Date Acquired		Sep. 28, 2016	[2],[4],[24],[26]	Sep. 28, 2016	[10],[12],[25],[27]
Cost		$ 200,000	[2],[24],[26]	$ 200,000	[10],[25],[27]
Fair Value		$ 812,800	[2],[7],[8],[24],[26]	$ 812,800	[10],[15],[16],[25],[27]
Number of Shares Owned | shares		21,391	[2],[9],[24],[26]	21,391	[10],[17],[25],[27]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - *70,176 Series D Preferred
Schedule of Investments [Line Items]
Date Acquired		Sep. 29, 2017	[2],[4],[24],[26]	Sep. 29, 2017	[10],[12],[25],[27]
Cost		$ 800,000	[2],[24],[26]	$ 800,000	[10],[25],[27]
Fair Value		$ 2,666,400	[2],[7],[8],[24],[26]	$ 2,666,400	[10],[15],[16],[25],[27]
Number of Shares Owned | shares		70,176	[2],[9],[24],[26]	70,176	[10],[17],[25],[27]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 120,000 Series B Preferred
Schedule of Investments [Line Items]
Fair Value		$ 4,559,500		$ 4,559,500		3,900,000
Number of Shares Owned | shares		120,000		120,000
Net Change in Unrealized Appreciation (Depreciation)				$ 659,500
Amount of Interest/Dividend/Fee Income		$ 52,501	[22]	52,500	[23]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 15,385 Series E Preferred
Schedule of Investments [Line Items]
Fair Value		$ 584,500		$ 584,500		500,012
Number of Shares Owned | shares		15,385		15,385
Net Change in Unrealized Appreciation (Depreciation)				$ 84,488
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 21,391 Series C Preferred
Schedule of Investments [Line Items]
Fair Value		$ 812,800		$ 812,800		695,000
Number of Shares Owned | shares		21,391		21,391
Net Change in Unrealized Appreciation (Depreciation)				$ 117,800
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 211,567 A-1 Units of SQF Holdco LLC
Schedule of Investments [Line Items]
Fair Value		$ 800,000		$ 800,000
Number of Shares Owned | shares		211,567
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 211,567 A-1 Units of SQF Holdco LLC.
Schedule of Investments [Line Items]
Date Acquired		Mar. 15, 2019	[2],[4],[24],[26]	Mar. 15, 2019	[10],[12],[25],[27]
Fair Value		$ 800,000	[2],[7],[8],[24],[26]	$ 800,000	[10],[15],[16],[25],[27]
Number of Shares Owned | shares		211,567	[2],[9],[24],[26]	211,567	[10],[17],[25],[27]
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 211,567 Class A-1 Units of SQF Holdco LLC
Schedule of Investments [Line Items]
Fair Value				$ 800,000		800,000
Number of Shares Owned | shares				211,567
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 23,077 Series F Preferred
Schedule of Investments [Line Items]
Date Acquired		Jun. 15, 2020	[2],[4],[24],[26]	Jun. 15, 2020	[10],[12],[25],[27]
Cost		$ 750,003	[2],[24],[26]	$ 750,003	[10],[25],[27]
Fair Value		$ 876,800	[2],[7],[8],[24],[26]	$ 876,800	[10],[15],[16],[25],[27]	750,003
Number of Shares Owned | shares		23,077	[2],[9],[24],[26]	23,077	[10],[17],[25],[27]
Net Change in Unrealized Appreciation (Depreciation)				$ 126,797
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 250 Class D-1 Units of SQF Holdco LLC
Schedule of Investments [Line Items]
Date Acquired	[2],[4],[24],[26]	Feb. 16, 2023
Cost	[2],[24],[26]	$ 250,000
Fair Value	[2],[7],[8],[24],[26]	$ 250,000
Number of Shares Owned | shares	[2],[9],[24],[26]	250
Gross Additions	[18]	$ 250,000
Investment, Identifier [Axis]: Tilson Technology Management, Inc. - 70,176 Series D Preferred
Schedule of Investments [Line Items]
Fair Value		$ 2,666,400		$ 2,666,400		2,280,000
Number of Shares Owned | shares		70,176		70,176
Net Change in Unrealized Appreciation (Depreciation)				$ 386,400
Investment, Identifier [Axis]: Total ITA Acquisition, LLC
Schedule of Investments [Line Items]
Fair Value						$ 3,561,611
Gross Additions	[19]			676,285
Gross Reductions	[21]			(4,237,896)
Amount of Interest/Dividend/Fee Income	[23]			$ 249,920
[1] Per share data are based on shares outstanding and results are rounded . All of the Corporation’s portfolio assets are pledged as collateral for purposes of securing th e Corporation’s senior secured revolving credit facility pursuant to a general security agreement, dated June 27, 2022, between the Corporation, the subsidiaries listed therein, and the Lender (as defined herein). Non-Control/Non-Affiliate Investments are investments that are neither Control Investments nor Affiliate Investments. The Date Acquired column indicates the date on which the Corporation first acquired an investment. These investments are non-income producing. All other investments are income producing. Non-income producing investments have not generated cash payments of interest or dividends including LLC tax-related distributions within the last twelve months or are not expected to do so going forward. If a debt or a preferred equity investment fails to make its most recent payment, then the investment will also be classified as non-incom e producing. Each equity percentage estimates the Corporation’s ownership interest in the applicable portfolio investment. The estimated ownership is calculated based on the percent of outstanding voting securities held by the Corporation or the potential percentage of voting securities held by the Corporation upon exercise of warrants or conversion of debentures, or other available data. If applicable, the symbol “<1%” indicates that the Corporation holds an equity interest of less than one percent. As of December 31, 2023 , the total cost of investment securities was approximately $ 68.4 million. Net unrealized appreciation was approximately $ 8.8 million, which was comprised of $ 14.1 million of unrealized appreciation of investment securities and ($ 5.4 ) million of unrealized depreciation of investment securities. At December 31, 2023 , the aggregate gross unrealized gain for federal income tax purposes was approximately $ 14.1 million and the aggregate gross unrealized loss for federal income tax purposes was approximately ($ 4.2 ) million. The net unrealized gain for federal income tax purposes was approximately $ 9.9 million based on a tax cost of approximately $ 68 million. The Corporation’s investments are carried at fair value in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820 “Fair Value Measurements and Disclosures,” which defines fair value and establishes guidelines for measuring fair value. At December 31, 2023 , ASC 820 designates 91 % of the Corporation’s investments as “Level 3” assets. Under the valuation policy of the Corporation, unrestricted publicly traded securities are valued at the closing price for these securities on the last trading day of the reporting period. Restricted securities are subject to restrictions on resale and are valued at fair value as determined in good faith by our external investment advisor Rand Capital Management, LLC (“RCM”) and approved by the Board of Directors. Fair value is considered to be the amount that the Corporation may reasonably expect to receive for portfolio securities when sold on the valuation date. Valuations as of any particular date, however, are not necessarily indicative of amounts which may ultimately be realized as a result of future sales or other dispositions of securities and these favorable or unfavorable differences could be material. Among the factors considered in determining the fair value of restricted securities are the financial condition and operating results, projected operations, and other analytical data relating to the investment. Also considered are the market prices for unrestricted securities of the same class (if applicable) and other matters which may have an impact on the value of the portfolio company (see Note 2. “Investments” to the Consolidated Financial Statements). At December 31, 2023 , restricted securities represented 91 % of the fair value of the investment portfolio. Restricted securities are subject to one or more restrictions on resale and are not freely marketable. Type of investment for equity position is in the form of shares unless otherwise noted as units or interests, i.e., preferred shares, common shares. All of the Corporation’s portfolio assets are pledged as collateral for purposes of securing the Corporation’s senior secured revolving credit facility pursuant to a general security agreement, dated June 27, 2022, between the Corporation, the subsidiaries listed therein, and the Lender (as defined herein). Non-Control/Non-Affiliate Investments are investments that are neither Control Investments nor Affiliate Investments. The Date Acquired column indicates the date on which the Corporation first acquired an investment. These investments are non-income producing. All other investments are income producing. Non-income producing investments have not generated cash payments of interest or dividends including LLC tax-related distributions within the last twelve months or are not expected to do so going forward. If a debt or a preferred equity investment fails to make its most recent payment, then the investment will also be classified as non-income producing. Each equity percentage estimates the Corporation’s ownership interest in the applicable portfolio investment. The estimated ownership is calculated based on the percent of outstanding voting securities held by the Corporation or the potential percentage of voting securities held by the Corporation upon exercise of warrants or conversion of debentures, or other available data. If applicable, the symbol “<1%” indicates that the Corporation holds an equity interest of less than one percent. As of December 31, 2022, the total cost of investment securities was approximately $ 55.7 million. Net unrealized appreciation was approximately $ 5.8 million, which was comprised of $ 13.5 million of unrealized appreciation of investment securities and ($ 7.7 ) million of unrealized depreciation of investment securities. At December 31, 2022, the aggregate gross unrealized gain for federal income tax purposes was $ 13.2 million and the aggregate gross unrealized loss for federal income tax purposes was ($ 6.7 ) million. The net unrealized gain for federal income tax purposes was $ 6.5 million based on a tax cost of $ 55.0 million. The Corporation’s investments are carried at fair value in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820 “Fair Value Measurements and Disclosures,” which defines fair value and establishes guidelines for measuring fair value. At December 31, 2022, ASC 820 designates 90 % of the Corporation’s investments as “Level 3” assets. Under the valuation policy of the Corporation, unrestricted publicly traded securities are valued at the closing price for these securities on the last trading day of the reporting period. Restricted securities are subject to restrictions on resale and are valued at fair value as determined in good faith by our external investment advisor Rand Capital Management, LLC (“RCM”) and approved by the Board of Directors. Fair value is considered to be the amount that the Corporation may reasonably expect to receive for portfolio securities when sold on the valuation date. Valuations as of any particular date, however, are not necessarily indicative of amounts which may ultimately be realized as a result of future sales or other dispositions of securities and these favorable or unfavorable differences could be material. Among the factors considered in determining the fair value of restricted securities are the financial condition and operating results, projected operations, and other analytical data relating to the investment. Also considered are the market prices for unrestricted securities of the same class (if applicable) and other matters which may have an impact on the value of the portfolio company (see Note 2. “Investments” to the Consolidated Financial Statements). At December 31, 2022, restricted securities represented 90 % of the fair value of the investment portfolio. Restricted securities are subject to one or more restrictions on resale and are not freely marketable. Type of investment for equity position is in the form of shares unless otherwise noted as units or interests, i.e., preferred shares, common shares. Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow on investments, capitalized interest and the accretion of discounts. Gross additions also include the movement of an existing portfolio company into this category and out of another category. Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow on investments, capitalized interest and the accretion of discounts. Gross additions also include the movement of an existing portfolio company into this category and out of another category. Gross reductions include decreases in the cost basis of investments resulting from principal repayments, sales, note conversions, the exchange of existing securities for new securities and the movement of an existing portfolio company out of this category and into another category. Gross reductions include decreases in the cost basis of investments resulting from principal repayments, sales, note conversions, the exchange of existing securities for new securities and the movement of an existing portfolio company out of this category and into another category. Represents the total amount of interest, fees or dividends credited to income for the portion of the period an investment was included in “Control or Affiliate” categories, respectively. Represents the total amount of interest, fees or dividends credited to income for the portion of the period an investment was included in “Control or Affiliate” categories, respectively. Affiliate Investments are defined by the Investment Company Act of 1940, as amended (“1940 Act”), as those Non-Control investments in companies in which between 5 % and 25 % of the voting securities are owned by the Corporation. Affiliate Investments are defined by the Investment Company Act of 1940, as amended (“1940 Act”), as those Non-Control investments in companies in which between 5 % and 25 % of the voting securities are owned by the Corporation. Investments classified as Level 3 for purposes of the fair value determination by RCM and approved by the Board of Directors. Investments classified as Level 3 for purposes of the fair value determination by RCM and approved by the Board of Directors. Indicates assets that the Company believes do not represent “qualifying assets” under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70 % of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. Of the Company’s total assets, 5.38 % were non-qualifying assets as of December 31, 2023 . Equity holdings are held in a wholly owned ( 100 %) “blocker corporation” subsidiary of Rand Capital Corporation for federal income tax and Regulated Investment Company (RIC) compliance. Payment in kind (PIK) represents earned interest that is added to the cost basis of the investment and due at maturity. The amount of PIK earned is included in the interest rate detailed in the “Type of Investment” column, unless it has been noted with a (+), in which case the PIK is in addition to the face amount of interest due on the security. Reduction in cost and value from previously reported balances reflects current principal repayment. Equity holdings are held in a wholly owned ( 100 %) “blocker corporation” of Rand Capital Corporation or Rand Capital Sub LLC for federal income tax and Regulated Investment Company (RIC) compliance. Indicates assets that the Company believes do not represent “qualifying assets” under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70 % of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. Of the Company’s total assets, 6.12 % were non-qualifying assets as of December 31, 2022 . Represents interest due (amounts over $ 50,000 ) from investments included as interest receivable on the Corporation’s Consolidated Statements of Financial Position. Payment in kind (PIK) represents earned interest that is added to the cost basis of the investment and due at maturity. The amount of PIK earned is included in the interest rate detailed in the “Type of Investment” column, unless it has been noted with a (+), in which case the PIK is in addition to the face amount of interest due on the security. Control Investments are defined by the 1940 Act as investments in companies in which more than 25 % of the voting securities are owned by the Corporation or where greater than 50 % of the board representation is maintained. Control Investments are defined by the 1940 Act as investments in companies in which more than 25 % of the voting securities are owned by the Corporation or where greater than 50 % of the board representation is maintained. Reduction in cost and value from previously reported balances reflects current principal repayment.

CONSOLIDATED SCHEDULE OF PORT_2

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Percentage of fair value level 3 investments	91%	90%
Investment at Cost	$ 68,365,606	$ 55,716,237
Interest due from investments	$ 244,600	$ 208,338
Minimum percentage of total assets in qualifying assets	70%	70%
Percentage of aggregate assets in non-qualifying assets	5.38%	6.12%
Blocker corporation
Schedule of Investments [Line Items]
Equity owned percentage	100%	100%
Fair Value
Schedule of Investments [Line Items]
Investment at Cost	$ 68,400,000	$ 55,700,000
Net unrealized appreciation	8,800,000	5,800,000
Unrealized appreciation of investment securities	14,100,000	13,500,000
Unrealized depreciation of investment securities	5,400,000	7,700,000
Aggregate gross unrealized gain for federal income tax	14,100,000	13,200,000
Aggregate gross unrealized loss for federal income tax	4,200,000	6,700,000
Net unrealized gain for federal income tax	9,900,000	6,500,000
Tax cost	68,000,000	55,000,000
Minimum
Schedule of Investments [Line Items]
Interest due from investments	$ 50,000	$ 50,000
Percentage of voting securities	5%	5%
Percentage of board representation	50%	50%
Maximum
Schedule of Investments [Line Items]
Percentage of voting securities	25%	25%

CONSOLIDATED SCHEDULE OF PORT_3

CONSOLIDATED SCHEDULE OF PORTFOLIO INVESTMENTS (Schedule of Percentage of Total Investments) - Investments At Fair Value - Industry Concentration Risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	100%	100%
Professional Services
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)		31.40%
Professional and Business Services
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	41.70%
Manufacturing
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	22%	22.60%
Consumer Product
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	13%	16.20%
Software
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	7.70%	10.10%
BDC Investment Funds
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	5.70%	6.30%
Distribution
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	5.60%
Automotive
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)	4.30%	13.20%
Oil and Gas
Schedule of Investments [Line Items]
Percentage of Total Investments (at fair value)		0.20%

FINANCIAL HIGHLIGHTS SCHEDULE

FINANCIAL HIGHLIGHTS SCHEDULE - USD ($)		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019	[2],[3]
Investment Company, Financial Highlights [Line Items]
Net asset value, beginning of year	[1]	$ 22.36	$ 23.54		$ 17.86		$ 32.93	[2],[3]	$ 44.88
Net investment income (loss)	[1]	1.15	1.72		(1.01)		0.68		(0.06)
Net increase (decrease) in net assets from operations	[1]	2.53	(0.34)		6.12		0.29		(1.41)
Purchase of treasury shares	[1]	0	0		0		(0.03)		0
Effect of the stock dividend	[1]	0	0		0		(12.16)		0
Dilutive effect of issuance of common stock	[1]	0	0		0		0		(10.54)
Payment of cash dividend	[1]	(1.33)	(0.83)		(0.44)		(3.17)		0
Increase (decrease) in net assets	[1]	1.2	(1.18)		5.68		(15.07)		(11.95)
Net asset value, end of year	[1]	23.56	22.36		23.54		17.86		32.93
Per share market value, end of year	[1]	$ 12.99	$ 13.32		$ 16.99		$ 17.6		$ 24.12
Total return based on market value	[4]	7.26%	(16.99%)	[1]	6.51%	[1]	(22.64%)	[1]	7.20%	[1]
Total return based on net asset value	[5]	11.31%	(1.45%)	[1]	34.28%	[1]	(40.87%)	[1]	(26.61%)	[1]
Supplemental data:
Net assets, end of period		$ 60,815,213	$ 57,721,320		$ 60,745,416		$ 46,104,830		$ 53,628,516
Ratio of expenses before income taxes to average net assets		7.05%	1.89%		12.49%		3.96%		7.70%
Ratio of expenses including taxes to average net assets		10.88%	2.25%		12.11%		6.62%		6%
Ratio of net investment income (loss) to average net assets		5.01%	7.48%		(4.88%)		3.52%		(0.24%)
Portfolio turnover		29.40%	11.20%		37.80%		29.40%		8.80%
Total amount of senior securities outstanding, exclusive of treasury securities		$ 16,250,000	$ 2,550,000
Asset coverage per unit	[6]	474.20%	2,363.60%
Net Realized Gains (Losses)
Investment Company, Financial Highlights [Line Items]
Net realized gain (losses) and Net change in unrealized appreciation (depreciation)	[1]	$ 0.27	$ 0.27		$ 2.26		$ (2.32)		$ 0.54
Net Change In Unrealized (Depreciation) Appreciation
Investment Company, Financial Highlights [Line Items]
Net realized gain (losses) and Net change in unrealized appreciation (depreciation)	[1]	$ 1.11	$ (2.33)		$ 4.87		$ 1.93		$ (1.89)
[1] Per share data are based on shares outstanding and results are rounded . Average net assets are computed on a quarterly basis for 2019. Share and per share data included in this schedule has been retroactively restated to reflect the effect of the Reverse Stock Split in May 2020. Total return based on market is calculated as the change in market value per share during the period plus declared dividends per share, assuming reinvestment of dividends, divided by the beginning market value per share Total return based on net asset value is calculated as the change in net asset value per share during the period plus declared dividends per share, divided by the beginning net asset value per share. Asset coverage per unit is the ratio of the carrying value of the Corporation's total consolidated assets, less liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness.

N-2

N-2 - USD ($)

3 Months Ended

12 Months Ended

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Sep. 30, 2022

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2023

Dec. 31, 2021

[1]

Dec. 31, 2020

[1]

Dec. 31, 2019

[1],[2],[3]

Dec. 31, 2018

[1],[2],[3]

Cover [Abstract]

Entity Central Index Key

0000081955

Amendment Flag

false

Securities Act File Number

814-00235

Document Type

10-K

Entity Registrant Name

Rand Capital Corporation

Entity Address, Address Line One

1405 Rand Building

Entity Address, City or Town

Buffalo

Entity Address, State or Province

NY

Entity Address, Postal Zip Code

14203

City Area Code

716

Local Phone Number

853-0802

Entity Well-known Seasoned Issuer

No

Entity Emerging Growth Company

false

Fee Table [Abstract]

Sales Load [Percent]

0%

Other Transaction Expenses [Abstract]

Other Transaction Expense 1 [Percent]

0%

Other Transaction Expenses [Percent]

0%

Annual Expenses [Table Text Block]

Fees and Expenses The following table is intended to assist you in understanding the fees and expenses that an investor in our common stock will bear, directly or indirectly. We caution you that some of the percentages indicated in the table below are estimates and may vary. The following table should not be considered a representation of our future expenses. Actual expenses may be greater or less than shown. Except where the context suggests otherwise, whenever this Form 10-K contains a reference to fees or expenses, paid by “us” or that “we” will pay fees or expenses, our shareholders will indirectly bear such fees or expenses as investors in us. Shareholder transaction expenses (as a percentage of offering price): Sales load — (1) Offering expenses — (2) Total shareholder transaction expenses — Annual expenses (as a percentage of net assets attributable to common stock): Base Management Fees 1.98 % (3) Incentive Fees 1.06 % (4) Interest payments on borrowed funds 2.76 % (5) Other expenses 3.21 % (6) Total annual expenses 9.01 % (1) In the event that the securities are sold to or through underwriters or agents, the applicable prospectus or prospectus supplement will disclose the applicable sales load (underwriting discount or commission) to be borne by us and our shareholders. (2) The applicable prospectus or prospectus supplement will disclose the estimated amount of offering expenses, the offering price and the offering expenses borne by us as a percentage of the offering price. (3) We are externally managed by RCM, and the Base Management Fee is calculated at an annual rate of 1.50% of our total assets (other than cash or cash equivalents but including assets purchased with borrowed funds). Consequently, if we have borrowings outstanding, the Base Management Fee as a percentage of net assets attributable to common shares would be higher than if we did not utilize leverage. (4) The portion of Incentive Fees paid with respect to net investment income and capital gains, if any, is based on actual amounts incurred during the year ended December 31, 2023 and paid during the first quarter of 2024. Such Incentive Fees are based on performance, vary from period to period and are not paid unless our performance exceeds specified thresholds. Incentive Fees in respect of net investment income do not include incentive fees in respect of net capital gains. See “Item 1. Business – Incentive Fees.” As we cannot predict our future net investment income or capital gains, the Incentive Fee paid in future periods, if any, may be substantially different than the fee reported during the year ended December 31, 2023 . (5) Assumes borrowings representing approximately 29% of our average net assets at an average annual interest rate of 8.2%. The amount of leverage that we may employ at any particular time will depend on, among other things, our Board’s and RCM’s assessment of market and other factors at the time of any proposed borrowing. (6) Other expenses in this table represents our estimated operating expenses and income tax expenses for the fiscal year ending December 31, 2024 , including the Acquired Funds Fees and Expenses of the business development company stocks in our investment portfolio.

Management Fees [Percent]

1.98%

Interest Expenses on Borrowings [Percent]

2.76%

Incentive Fees [Percent]

1.06%

Other Annual Expenses [Abstract]

Other Annual Expenses [Percent]

3.21%

Total Annual Expenses [Percent]

9.01%

Expense Example [Table Text Block]

Example The following example demonstrates the projected dollar amount of total cumulative expenses that would be incurred over various periods with respect to a hypothetical investment in our common stock. In calculating the following expense amounts, we have assumed that our interest payments on borrowed funds, capital gains incentive fees paid, and other annual operating expenses would remain at the levels set forth in the table above. The example assumes that all dividends and other distributions are reinvested at NAV. 1 year 3 years 5 years 10 years You would pay the following expenses on a $1,000 common stock investment, assuming a 5% annual return $ 94 $ 270 $ 434 $ 788

Expense Example, Year 01

$ 94

Expense Example, Years 1 to 3

270

Expense Example, Years 1 to 5

434

Expense Example, Years 1 to 10

$ 788

Other Expenses, Note [Text Block]

(6) Other expenses in this table represents our estimated operating expenses and income tax expenses for the fiscal year ending December 31, 2024 , including the Acquired Funds Fees and Expenses of the business development company stocks in our investment portfolio.

Acquired Fund Incentive Allocation, Note [Text Block]

(4) The portion of Incentive Fees paid with respect to net investment income and capital gains, if any, is based on actual amounts incurred during the year ended December 31, 2023 and paid during the first quarter of 2024. Such Incentive Fees are based on performance, vary from period to period and are not paid unless our performance exceeds specified thresholds. Incentive Fees in respect of net investment income do not include incentive fees in respect of net capital gains. See “Item 1. Business – Incentive Fees.” As we cannot predict our future net investment income or capital gains, the Incentive Fee paid in future periods, if any, may be substantially different than the fee reported during the year ended December 31, 2023 .

Financial Highlights [Abstract]

Senior Securities, Note [Text Block]

See “Note 5. Senior Secured Revolving Credit Facility” in the Notes to the Consolidated Financial Statements for additional information regarding the terms of our Credit Facility.

General Description of Registrant [Abstract]

Investment Objectives and Practices [Text Block]

Our Investment Objectives and Strategy Our investment activities are managed by our external investment adviser, RCM. Our investment objective is to generate current income and, when possible, complement this current income with capital appreciation. As a result, the investments made by Rand during 2023 were, and the investments to be made by Rand in the future are expected to be, made primarily in debt instruments. At times when excess cash is available on our balance sheet, we may also invest in high yielding publicly traded equity instruments that provide income through dividends and are relatively more liquid than our private company equity investments. We expect to co-invest in privately held, lower middle market companies with committed and experienced management in a broad variety of industries. We seek to invest in businesses that have sustainable, differentiated and market-accepted products and have revenue of greater than $10 million and a path to free cash flow or are already generating greater than $1.5 million in EBITDA. We primarily provide funding to companies that need growth or expansion capital or are looking to finance an ownership transition. We typically are a minority investor and work with other lenders, investment partners and sponsors to source and fund investment opportunities. Going forward, our initial investment in any one portfolio company is expected to be in the range of $2 million to $4 million . The debt instruments we invest in are not expected to be rated by any rating agency and, if they were, would be expected to be below investment grade. Because of the higher risk nature of our investments, we seek board observation or information rights and may require a board seat. The maximum size of our investment in any single portfolio company and the diversification of our overall portfolio is subject to compliance with SEC and IRS regulation requirements. We may engage in various investment strategies to achieve our investment objectives based on the types of opportunities we discover and the competitive landscape. We expect to focus on current cash yields in order to achieve our income producing goals.

Risk Factors [Table Text Block]

Item 1A. Ris k Factors Investing in our securities involves a high degree of risk. In addition to the other information contained in this annual report on Form 10-K, the following information should be carefully considered before making an investment in our common stock. The risk factors described below are the principal risk factors associated with an investment in our securities, as well as those factors generally associated with a business development company with investment objectives, investment policies, capital structure or trading markets similar to ours. The risks set out below are not the only risks we face. Additional risks and uncertainties not presently known to us or not presently deemed material by us might also impair our operations and performance. If any of the following events occur, our business, financial condition and results of operations could be materially and adversely affected. In such case, our NAV and the trading price of our common stock could decline, resulting in potential investment loss. We have listed below the risk factors applicable to us grouped into the following categories: Risks related to our Business and Structure, Risks related to our Investments, Risks related to our Indebtedness, Risks related to our Common Stock and Risks Relating to U.S. Federal Income Tax. Risks related to our Business and Structure We are dependent upon RCM for our future success. Our day-to-day investment operations are managed by our investment adviser and administrator, RCM, subject to oversight by our Board. After the completion of the Transaction, we no longer have any employees, and, as a result, RCM’s investment team evaluates, negotiates, structures, closes and monitors our investments. We depend on the diligence, skill, investment expertise and network of business contacts of RCM’s investment professionals, and the Investment Committee to source appropriate investments for us. We also depend on members of RCM’s investment team and the Investment Committee to analyze potential investments for us and monitor those investments, and on members of the Investment Committee to make investment decisions for us. Our future success depends on the continued availability of members of RCM’s investment team and the Investment Committee and the other investment professionals available to RCM. The Corporation does not have any employment agreements with key personnel of RCM, including members of the Investment Committee, and we cannot provide any assurance that unforeseen business, medical, personal or other circumstances would not lead any such individual to terminate his or her relationship with RCM. In addition, it is not expected that members of RCM's investment team and the Investment Committee will devote all of their business time to our operations and each such person will have other demands on their time as a result of their other activities. As a result, RCM may need to hire, train, supervise and manage new investment professionals to participate in our investment selection and monitoring process and may not be able to find investment professionals in a timely manner or at all. The loss of a material number of investment professionals to which RCM has access or members of the Investment Committee, could have a material adverse effect on our ability to achieve our investment objectives as well as on our financial condition and results of operations. Our financial results will depend on RCM’s skill to manage and deploy capital effectively. Our ability to achieve long-term capital appreciation on our equity investments and to maintain a current cash flow from our debt investments while shifting our portfolio to contain a greater percentage of interest-yielding debt securities depends on RCM’s capability to effectively identify, invest, and manage our capital. Accomplishing this investment objective effectively and on a cost effective basis will be based on RCM’s handling of the investment process, starting with its ability to find investments that offer favorable terms and meet our investment objective, and its ability to provide competent, attentive and efficient services to us. RCM will also need to monitor our portfolio companies’ performance and may be called upon to provide managerial assistance. These competing demands on their time may slow the rate of investment or the effective deployment of capital. Even if RCM is able to grow and build on our investment portfolio, any failure by RCM to manage the growth of our portfolio effectively could have a material adverse effect on our business, financial condition, results of operations and prospects. If RCM cannot successfully manage our investment portfolio or implement our investment objectives, this could negatively impact our results of operation and financial condition. We are subject to risks created by our highly regulated environment. We are regulated by the SEC as a BDC and subject to the requirements applicable to BDCs under the 1940 Act. The 1940 Act imposes numerous constraints on the operations of BDCs and their external advisers. Changes in the laws or regulations that govern BDCs could significantly affect our business. Regulations and laws may be changed periodically, and the interpretations of the relevant regulations and laws are also subject to change. Any change in the regulations and laws governing our business could have a material impact on our financial condition and our results of operations. Moreover, the laws and regulations that govern BDCs may place conflicting demands on the manner in which we operate, and the resolution of those conflicts may restrict or otherwise adversely affect our operations. Furthermore, any failure to comply with the requirements imposed on BDCs by the 1940 Act could cause the SEC to bring an enforcement action against us and/or expose us to claims of private litigants. The 1940 Act permits us to issue senior securities, which include borrowing money from banks or other financial institutions, in amounts such that our asset coverage, as defined in the 1940 Act, equals at least 200% after each issuance of senior securities, subject to certain disclosure requirements. On January 24, 2024, the Board, including a “required majority” (as such term is defined in Section 57(o) of the 1940 Act) of the Board, approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the 1940 Act, as amended by the Small Business Credit Availability Act. Therefore, the Company’s asset coverage requirements for senior securities will automatically be changed from 200% to 150%, effective January 24, 2025. If our asset coverage is not at least 200% or, beginning January 24, 2025, at least 150%, we are not permitted to pay distributions or issue additional senior securities. As a result and if we are unable to comply with our asset coverage requirement under the 1940 Act, we could have difficulty meeting the distribution requirements necessary to maintain RIC tax treatment. Moreover, if the value of our assets declines, we may also be unable to satisfy this asset coverage test. If that happens, we may be required to liquidate a portion of our investments and repay a portion of our indebtedness at a time when we may be unable to do so or unable to do so on favorable terms. We are subject to risks created by the valuation of our portfolio investments. At December 31, 2023, 91% of our investments are in private securities that are not publicly traded. There is typically no public market for securities of the small privately held companies in which we typically invest. Investments are valued on a quarterly basis in accordance with our established valuation policy and are stated at fair value and approved by our Board. The inputs into the determination of fair value of these investments may require significant judgment or estimation. In the absence of a readily ascertainable market value, the estimated value of our investment portfolio may differ significantly, favorably or unfavorably, from the values that would be placed on the portfolio if a ready market for the securities existed and may fluctuate significantly over short periods of time. Any changes in estimated value of our investments are recorded in our consolidated statement of operations as “Net change in unrealized appreciation/depreciation on investments.” In addition, the participation of RCM’s investment professionals in our valuation process may result in a conflict of interest as RCM’s Base Management Fee under the Investment Management Agreement is based, in part, on the value of our gross assets, and the Incentive Fees payable under the Investment Management Agreement are based, in part, on realized gains and realized and unrealized losses. RCM, acting as our investment adviser, operates in a competitive market for investment opportunities. RCM faces significant competition in effecting our investing activities from many entities including private venture capital funds, investment affiliates of large companies, wealthy individuals and other domestic or foreign investors. The competition is not limited to entities that operate in the same general geographical areas as we do. Many of our competitors are substantially larger and have considerably greater financial, technical and marketing resources than we do. For example, some competitors have a lower cost of capital and access to funding sources that are not available to us, including from the Small Business Administration. In addition, increased competition for attractive investment opportunities allows debtors to demand more favorable terms and offer fewer contractual protections to creditors. Some of our competitors have higher risk tolerances or different risk assessments than we do. These characteristics have allowed, and could continue to allow our competitors to consider a wider variety of investments, establish more relationships and offer better pricing and more flexible structuring than we are able to offer. We may lose investment opportunities if we do not match our competitors’ pricing, terms and structure. If we choose to match our competitors’ pricing, terms and structure, we may not be able to achieve acceptable returns on our investments or may bear substantial risk of capital loss. As a regulated BDC, we are also required to disclose quarterly and annually the name and business description of our portfolio companies and the value of their portfolio securities. Most of our competitors are not subject to this public disclosure requirement or similar types of disclosure requirements. This obligation to disclose this information could hinder RCM’s ability to invest in potential portfolio companies on our behalf. Additionally, other regulations, current and future, may make us less attractive as a potential investor to a given portfolio company than a private fund that is not subject to these regulations. There are potential conflicts of interest, including the management of other investment funds and accounts by the principals and certain members of the Investment Committee of RCM, which could impact our investment returns. The principals and certain members of the Investment Committee of RCM manage other funds and accounts, including for entities affiliated with members of the Investment Committee. Accordingly, they have obligations to those investors, the fulfillment of which may not be in the best interests of, or may be adverse to the interests of, us or our shareholders. Although the principals, members of the Investment Committee and other professional staff of RCM are expected to devote as much time to our management as appropriate to enable RCM to perform its duties in accordance with the Investment Management Agreement, the members of the Investment Committee and investment professionals of RCM may have conflicts in allocating their time and services among RCM, on the one hand, and the other managed investment vehicles, on the other hand. RCM, including members of its Investment Committee, may face conflicts in allocating investment opportunities between us and other investment vehicles affiliated with members of the Investment Committee that have overlapping investment objectives with ours. Although RCM, including members of the Investment Committee, and its affiliates that manage other investment portfolios will endeavor to allocate investment opportunities in a fair and equitable manner in accordance with its written allocation policies and procedures, it is possible that, in the future, we may not be given the opportunity to participate in investments made by investment funds managed by RCM or members of the Investment Committee given the requirements or application of such allocation policies and procedures or if such investment is prohibited by laws that are applicable to us. RCM and its affiliates, including some of our officers and directors, face conflicts of interest caused by compensation arrangements with us, which could result in actions that are not in the best interests of our shareholders. RCM and its affiliates receive fees from us in return for their services, including certain incentive fees based on the performance of our investments. These fees could influence the advice provided to us. Generally, the greater the risk assumed by us with respect to our investments, the greater the potential for growth in our assets and profits, and, correlatively, the fees payable by us to RCM under the terms of the Investment Management Agreement. These compensation arrangements could affect RCM or its affiliates’ judgment with respect to investments made by us, which allows RCM to earn increased asset management fees. Our ability to enter into transactions with our affiliates is restricted. We are prohibited under the 1940 Act from participating in certain transactions with certain of our affiliates without the prior approval of the “required majority” of our directors as defined in Section 57(o) of the 1940 Act and, in some cases, the SEC. Any person that owns, directly or indirectly, 5% or more of our outstanding voting securities will be our affiliate for purposes of the 1940 Act, and we will generally be prohibited from buying from, or selling to, such affiliate any securities, absent the prior approval of the “required majority” of our directors as defined in Section 57(o) of the 1940 Act. The 1940 Act also prohibits certain “joint” transactions with certain of our affiliates, including other funds or clients advised by RCM or its affiliates, which in certain circumstances could include investments in the same portfolio company (whether at the same or different times to the extent the transaction involves a joint investment), without prior approval of our Board and, in some cases, the SEC. If a person acquires more than 25% of our voting securities, or is otherwise deemed to control, be controlled by, or be under common control with us, we will be prohibited from buying from, or selling to, such person or certain of that person’s affiliates any securities, or entering into prohibited joint transactions with such persons, absent the prior approval of the SEC. For example, given East’s approximately 64% ownership position in our common stock, this prohibition impacts our ability to participate in certain transactions or investments where East is involved, including with respect to certain of the loans and other securities that were contributed to us by East as part of the consideration for East’s purchase of our common stock in the Transaction, to the extent such loans and other securities are also held by East or another one of our affiliates. Similar restrictions limit our ability to transact business with our officers or directors or their affiliates or anyone who is under common control with us. As a result of these restrictions, we may also be prohibited from buying securities from, or selling securities to, any portfolio company that is controlled by a fund managed by either RCM or its affiliates without the prior approval of the SEC, which may limit the scope of investment or disposition opportunities that would otherwise be available to us. The analysis of whether a particular transaction constitutes a joint transaction requires a review of the relevant facts and circumstances then existing. On October 7, 2020, we, RCM and certain of our affiliates received the Order from the SEC to permit us to co-invest in portfolio companies with certain other affiliates, including other BDCs and registered investment companies, managed by RCM and certain of its affiliates in a manner consistent with our investment objective, subject to compliance with certain conditions. On March 29, 2021, the SEC granted us, RCM, Callodine, and certain of their affiliates the New Order that superseded the Order and permits us to co-invest with affiliates managed by RCM and Callodine. The New Order was sought in connection with the completion of the Adviser Change of Control. After the Adviser Change of Control, Callodine held a controlling interest in RCM. Pursuant to the New Order, we generally are permitted to co-invest with affiliates covered by the New Order if a “required majority” (as defined in Section 57(o) of the 1940 Act) of our independent directors make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transaction, including the consideration to be paid, are reasonable and fair to us and our shareholders and do not involve overreaching of us or our shareholders on the part of any person concerned, (2) the transaction is consistent with the interests of our shareholders and is consistent with our investment objective and strategies, and (3) the investment by our affiliates would not disadvantage us, and our participation would not be on a basis different from or less advantageous than that on which our affiliates are investing. In addition, on September 6, 2022, the SEC granted an amendment to the New Order to permit us to participate in follow-on investments in our existing portfolio companies with certain Affiliated Funds (as defined in the New Order) that do not hold any investments in such existing portfolio companies. In situations when co-investment with funds managed by RCM or its affiliates is not permitted under the 1940 Act and related rules, existing or future staff guidance, or the terms and conditions of the exemptive relief granted to us by the SEC, RCM and its affiliates will need to decide which client or clients (including us) will proceed with the investment. Generally, we will not be entitled to make a co-investment in these circumstances and, to the extent that a client (other than us) is granted the opportunity to proceed with the investment, we will not be permitted to participate in the investment we otherwise may have made. RCM may be paid incentive compensation even if we incur a net loss, and we cannot recover any portion of the incentive fee previously paid. RCM is entitled to incentive compensation under our Investment Management Agreement for each fiscal quarter under the Income Based Fee in an amount equal to a percentage of our pre-incentive fee net investment income, subject to a hurdle rate, a catch-up provision, a cap and a deferral mechanism. For purposes of calculating the Income Based Fee, our pre-incentive fee net investment income excludes realized and unrealized capital losses that we may incur in the fiscal quarter, even if such capital losses result in a net loss for that quarter. Thus, we may be required to pay RCM incentive compensation under the Income Based Fee for a fiscal quarter even if we incur a net loss for that quarter. In addition, if we pay the Capital Gains Fee and thereafter experience additional realized capital losses or unrealized capital losses, we will not be able to recover any portion of the incentive fee previously paid. RCM’s liability is limited under the Investment Management Agreement and the Administration Agreement, and we are required to indemnify RCM against certain liabilities, which may lead RCM to act in a riskier manner on our behalf than it would when acting for its own account. Under the Investment Management Agreement and the Administration Agreement, RCM does not assume any responsibility to us other than to render the services described in the Investment Management Agreement and Administration Agreement, as applicable, and it is not responsible for any action of our Board in declining to follow RCM’s advice or recommendations. Pursuant to the Investment Management Agreement and the Administration Agreement, RCM, its members and their respective officers, managers, partners, agents, employees, controlling persons, members and any other person affiliated with any of them are not liable to us for their acts under the Investment Management Agreement and Administration Agreement, as applicable, absent willful misfeasance, bad faith, gross negligence or reckless disregard in the performance of their duties. We have agreed to indemnify, defend and protect RCM, its members and their respective officers, managers, partners, agents, employees, controlling persons and any other person affiliated with any of them with respect to all damages, liabilities, costs and expenses arising out of or otherwise based upon the performance of any of RCM’s duties or obligations under the Investment Management Agreement or Administration Agreement, as applicable, or otherwise as investment adviser or administrator, as applicable, for us, and not arising out of willful misfeasance, bad faith, gross negligence or reckless disregard in the performance of their duties under the Investment Management Agreement or the Administration Agreement. These protections may lead RCM to act in a riskier manner when acting on our behalf than it would when acting for its own account. Our investment adviser and administrator, RCM, has the right to resign on 60 days’ written notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations. Our investment adviser and administrator, RCM, has the right, under both the Investment Management Agreement and the Administration Agreement, to resign at any time upon not less than 60 days’ written notice, whether we have found a replacement or not. If RCM resigns, we may not be able to find a new investment adviser or administrator or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations are likely to be adversely affected and the market price of our common stock may decline. Even if we are able to retain comparable management, whether internal or external, the integration of such management and their lack of familiarity with our investment objectives may result in additional costs and time delays that may adversely affect our financial condition, business and results of operations. If we do not invest a sufficient portion of our assets in qualifying assets, we could fail to maintain our qualification as a BDC or be precluded from investing according to our current business strategy. As a BDC, we may not acquire any assets other than “qualifying assets” unless, at the time of and after giving effect to such acquisition, at least 70% of our total assets are qualifying assets. We believe that most of the investments that we may acquire in the future will constitute qualifying assets. However, we may be precluded from investing in what we believe to be attractive investments if such investments are not qualifying assets for purposes of the 1940 Act. If we do not invest a sufficient portion of our assets in qualifying assets, we could violate the 1940 Act provisions applicable to BDCs. As a result of such violation, specific rules under the 1940 Act could prevent us, for example, from making follow-on investments in existing portfolio companies (which could result in the dilution of our position) or could require us to dispose of investments at inappropriate times in order to come into compliance with the 1940 Act. If we need to dispose of such investments quickly, it could be difficult to dispose of such investments on favorable terms. We may not be able to find a buyer for such investments and, even if we do find a buyer, we may have to sell the investments at a substantial loss. Any such outcomes could have a material adverse effect on our business, financial condition, results of operations and cash flows. If we do not maintain our status as a BDC, we would be subject to regulation as a registered closed-end investment company under the 1940 Act. As a registered closed-end investment company, we would be subject to substantially more regulatory restrictions under the 1940 Act, which would significantly decrease our operating flexibility. The fee structure under the Investment Management Agreement may induce RCM to pursue investments and incur leverage, which may not be in the best interests of the shareholders. Under the terms of the Investment Management Agreement, the Base Management Fee is payable even if the value of our investment portfolio declines. The Base Management Fee is calculated based on the total assets (other than cash or cash equivalents but including assets purchased with borrowed funds), as determined according to procedures duly adopted by the Board. Accordingly, the Base Management Fee is payable regardless of whether the value of Rand’s total assets or investment portfolio has decreased during the then-current quarter and creates an incentive for RCM to incur leverage, such as borrowings under our Credit Facility, which may not be consistent with our shareholders’ interests. The Incentive Fee payable to RCM is calculated based on a percentage of our return on invested capital. The terms of the Incentive Fee calculation may create an incentive for RCM to make investments on our behalf that are risky or more speculative than would be the case in the absence of such compensation arrangement. Unlike the Base Management Fee, the Income Based Fee is payable only if the hurdle rate is achieved. Because the portfolio earns investment income on gross assets while the hurdle rate is based on net assets, and because the use of leverage, such as borrowings under our Credit Facility, increases gross assets without any corresponding increase in net assets, RCM may be incentivized to incur leverage to grow the portfolio, which will tend to enhance returns where our portfolio has positive returns and increase the chances that the hurdle rate is achieved. Conversely, the use of leverage may increase losses where our portfolio has negative returns, which would impair the value of our common stock. In addition, RCM receives the Incentive Fees based, in part, upon net capital gains realized on our investments under the Capital Gains Fee. Unlike the Income Based Fee, there is no hurdle rate applicable to the Capital Gains Fee. As a result, RCM may have an incentive to invest more capital in investments that are likely to result in capital gains as compared to income producing securities. Such a practice could result in our investing in more speculative equity securities than would otherwise be the case, which could result in higher investment losses, particularly during economic downturns. We may need to raise additional capital to grow. We may need additional capital to fund new investments and grow. We may access the capital markets periodically to issue equity securities as a means to raise additional capital. Pursuant to the restrictions of the 1940 Act, we are not generally able to issue and sell our common stock at a price below net asset value per share. We may, however, sell our common stock at a price below the then-current net asset value of our common stock if our Board determines that such sale is in the best interests of the Corporation and our shareholders, and our shareholders also approve the sale, giving us the authority to do so. Although we currently do not have such authorization, we may seek such authorization in the future. In addition to amounts available to be borrowed under our Credit Facility, we may also issue debt securities or borrow additional amounts from financial institutions in order to obtain such additional capital, up to the maximum amount permitted by the 1940 Act. The 1940 Act permits us to issue debt securities or incur indebtedness only in amounts such that our asset coverage, as defined in the 1940 Act, equals at least 200%, or beginning after January 24, 2025, at least 150%, immediately after such issuance or incurrence. Unfavorable economic conditions could increase our funding costs and limit our access to the capital markets or result in a decision by lenders not to extend credit to us. Furthermore, the debt capital that may be available to us in the future, if any is available at all, may be at a higher costs and on less favorable terms and conditions. A reduction in the availability of new capital could limit our ability to grow. In addition, we are required to distribute at least 90% of our net ordinary income and net short-term capital gains in excess of net long-term capital losses, if any, to our shareholders to maintain our RIC election. As a result, our earnings may not be able to be retained by the Corporation to fund new investments and, instead, may need to be distributed to shareholders. If we are unable to access the capital markets or if we are unable to borrow from financial institutions, we may be unable to grow our business and execute our business strategy fully, and our earnings, if any, could decrease, which could have an adverse effect on the value of our common stock. We are subject to cybersecurity risks and incidents that may adversely affect our operations, the operations of RCM or the companies in which we invest. A failure in our, or RCM’s, cybersecurity systems could impair our ability to conduct business and damage our business relationships, compromise or corrupt our confidential information and ultimately negatively impact business, financial condition and operating results. Our and RCM’s operations are dependent on secure information technology systems for data processing, storage and reporting. Increased cybersecurity vulnerabilities, threats and more sophisticated and targeted cyber-attacks pose a risk to the security of our and RCM’s information and the information of our portfolio companies. Like other companies, we or RCM may experience threats to our data and systems, including malware and computer virus attacks, unauthorized access, system failures and disruptions. If one or more of these events occurs, it could potentially jeopardize the confidential, proprietary and other information stored in, or transmitted through, our or RCM’s computer systems and networks, or otherwise cause interruptions or malfunctions in our or RCM’s operations, which could result in damage to our or RCM’s reputation, financial losses, litigation, increased costs or regulatory penalties. Furthermore, if one of these events were to occur at one of our portfolio companies, it could impact their business, financial condition and results of operations, which could negatively impact our investment. In addition, these cyber-attacks could affect our and RCM’s computer network, our website or our other service providers (such as, but not limited to, accountants, lawyers, and transfer agents) and could result in operating disruptions or information misappropriation, which could have a material adverse effect on our business operations and the integrity and availability of our financial information. We and RCM have attempted to mitigate these cybersecurity risks by employing a number of processes, procedures and internal controls within our organization and RCM, but we remain potentially vulnerable to additional known and unknown threats. We may experience fluctuations in our annual and quarterly results. We could experience fluctuations in our annual and quarterly operating results due to a number of factors, some of which are beyond our control, including RCM’s ability or inability to make investments in companies that meet our investment criteria, RCM’s transition of our portfolio to include more interest-yielding securities, the interest rate payable on the debt securities acquired and the default

Share Price [Table Text Block]

The following table sets forth, for each fiscal quarter for the fiscal years ended December 31, 2023 and 2022, the net asset value per share of our common stock, the range of high and low closing sales prices of our common stock, the closing sales price as a premium (discount) to net asset value and the dividends or distributions declared by us. Net Asset Price Range High Sales Price Discount to Net Asset Low Sales Price Discount to Net Asset Cash Dividend Value (1) High Low Value (2) Value (2) Per Share Year ended December 31, 2022 First Quarter $ 23.23 $ 17.49 $ 13.71 ( 24.71 )% ( 40.98 )% $ 0.15 Second Quarter $ 22.34 $ 15.90 $ 14.00 ( 28.83 )% ( 37.33 )% $ 0.15 Third Quarter $ 22.62 $ 18.80 $ 13.04 ( 16.89 )% ( 42.35 )% $ 0.15 Fourth Quarter $ 22.36 $ 16.92 $ 13.29 ( 24.33 )% ( 40.56 )% $ 0.38 Year ended December 31, 2023 First Quarter $ 23.00 $ 14.22 $ 13.42 ( 38.17 )% ( 41.65 )% $ 0.20 Second Quarter $ 23.79 $ 13.55 $ 12.66 ( 43.04 )% ( 46.78 )% $ 0.25 Third Quarter $ 23.77 $ 13.97 $ 13.00 ( 41.23 )% ( 45.31 )% $ 0.25 Fourth Quarter $ 23.56 $ 14.54 $ 12.70 ( 38.29 )% ( 46.10 )% $ 0.63 (1) Net asset value per share is determined as of the last day in the relevant quarter and therefore may not reflect the net asset value per share on the date of the high and low closing sales prices. The net asset values shown are based on outstanding shares at the end of the relevant quarter. (2) Calculated as the respective high or low closing sales price less net asset value, divided by net asset value (in each case, as of the applicable quarter).

Lowest Price or Bid

$ 12.7

$ 13

$ 12.66

$ 13.42

$ 13.29

$ 13.04

$ 14

$ 13.71

Highest Price or Bid

$ 14.54

$ 13.97

$ 13.55

$ 14.22

$ 16.92

$ 18.8

$ 15.9

$ 17.49

Highest Price or Bid, Premium (Discount) to NAV [Percent]

(38.29%)

41.23%

(43.04%)

(38.17%)

(24.33%)

(16.89%)

(28.83%)

(24.71%)

Lowest Price or Bid, Premium (Discount) to NAV [Percent]

(46.10%)

(45.31%)

(46.78%)

(41.65%)

(40.56%)

(42.35%)

(37.33%)

(40.98%)

NAV Per Share

$ 23.56

[1]

$ 23.77

$ 23.79

$ 23

$ 22.36

[1]

$ 22.62

$ 22.34

$ 23.23

$ 23.56

[1]

$ 23.54

$ 17.86

$ 32.93

$ 44.88

Capital Stock, Long-Term Debt, and Other Securities [Abstract]

Security Dividends [Text Block]

The Board declared and we paid the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special

Security Preemptive and Other Rights [Text Block]

SEC Exemptive Order On October 7, 2020, Rand, RCM and certain of their affiliates received an exemptive order from the SEC to permit the Corporation to co-invest in portfolio companies with certain affiliates, including other BDCs and registered investment companies, managed by RCM and certain of its affiliates, in a manner consistent with the Corporation’s investment objective, positions, policies, strategies and restrictions as well as regulatory requirements, subject to compliance with certain conditions (the “Order”). On March 29, 2021, the SEC granted Rand, RCM, Callodine, which holds a controlling interest in RCM, and certain of their affiliates a new exemptive order (the “New Order”) that superseded the Order and permits Rand to co-invest with affiliates managed by RCM and Callodine. Pursuant to the New Order, the Corporation is generally permitted to co-invest with affiliates covered by the New Order if a “required majority” (as defined in Section 57(o) of the 1940 Act) of Rand’s independent directors makes certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transaction, including the consideration to be paid, are reasonable and fair to Rand and its shareholders and do not involve overreaching in respect of Rand or its shareholders on the part of any person concerned, (2) the transaction is consistent with the interests of the Rand’s shareholders and is consistent with Rand’s investment objective and strategies and (3) the investment by Rand’s affiliates would not disadvantage Rand, and Rand’s participation would not be on a basis different from or less advantageous than that on which Rand’s affiliates are investing. In addition, on September 6, 2022, the SEC granted an amendment to the New Order to permit us to participate in follow-on investments in our existing portfolio companies with certain Affiliated Funds (as defined in the New Order) that do not hold any investments in such existing portfolio companies.

Risks Related to Our Business and Structure [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risks related to our Business and Structure We are dependent upon RCM for our future success. Our day-to-day investment operations are managed by our investment adviser and administrator, RCM, subject to oversight by our Board. After the completion of the Transaction, we no longer have any employees, and, as a result, RCM’s investment team evaluates, negotiates, structures, closes and monitors our investments. We depend on the diligence, skill, investment expertise and network of business contacts of RCM’s investment professionals, and the Investment Committee to source appropriate investments for us. We also depend on members of RCM’s investment team and the Investment Committee to analyze potential investments for us and monitor those investments, and on members of the Investment Committee to make investment decisions for us. Our future success depends on the continued availability of members of RCM’s investment team and the Investment Committee and the other investment professionals available to RCM. The Corporation does not have any employment agreements with key personnel of RCM, including members of the Investment Committee, and we cannot provide any assurance that unforeseen business, medical, personal or other circumstances would not lead any such individual to terminate his or her relationship with RCM. In addition, it is not expected that members of RCM's investment team and the Investment Committee will devote all of their business time to our operations and each such person will have other demands on their time as a result of their other activities. As a result, RCM may need to hire, train, supervise and manage new investment professionals to participate in our investment selection and monitoring process and may not be able to find investment professionals in a timely manner or at all. The loss of a material number of investment professionals to which RCM has access or members of the Investment Committee, could have a material adverse effect on our ability to achieve our investment objectives as well as on our financial condition and results of operations. Our financial results will depend on RCM’s skill to manage and deploy capital effectively. Our ability to achieve long-term capital appreciation on our equity investments and to maintain a current cash flow from our debt investments while shifting our portfolio to contain a greater percentage of interest-yielding debt securities depends on RCM’s capability to effectively identify, invest, and manage our capital. Accomplishing this investment objective effectively and on a cost effective basis will be based on RCM’s handling of the investment process, starting with its ability to find investments that offer favorable terms and meet our investment objective, and its ability to provide competent, attentive and efficient services to us. RCM will also need to monitor our portfolio companies’ performance and may be called upon to provide managerial assistance. These competing demands on their time may slow the rate of investment or the effective deployment of capital. Even if RCM is able to grow and build on our investment portfolio, any failure by RCM to manage the growth of our portfolio effectively could have a material adverse effect on our business, financial condition, results of operations and prospects. If RCM cannot successfully manage our investment portfolio or implement our investment objectives, this could negatively impact our results of operation and financial condition. We are subject to risks created by our highly regulated environment. We are regulated by the SEC as a BDC and subject to the requirements applicable to BDCs under the 1940 Act. The 1940 Act imposes numerous constraints on the operations of BDCs and their external advisers. Changes in the laws or regulations that govern BDCs could significantly affect our business. Regulations and laws may be changed periodically, and the interpretations of the relevant regulations and laws are also subject to change. Any change in the regulations and laws governing our business could have a material impact on our financial condition and our results of operations. Moreover, the laws and regulations that govern BDCs may place conflicting demands on the manner in which we operate, and the resolution of those conflicts may restrict or otherwise adversely affect our operations. Furthermore, any failure to comply with the requirements imposed on BDCs by the 1940 Act could cause the SEC to bring an enforcement action against us and/or expose us to claims of private litigants. The 1940 Act permits us to issue senior securities, which include borrowing money from banks or other financial institutions, in amounts such that our asset coverage, as defined in the 1940 Act, equals at least 200% after each issuance of senior securities, subject to certain disclosure requirements. On January 24, 2024, the Board, including a “required majority” (as such term is defined in Section 57(o) of the 1940 Act) of the Board, approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the 1940 Act, as amended by the Small Business Credit Availability Act. Therefore, the Company’s asset coverage requirements for senior securities will automatically be changed from 200% to 150%, effective January 24, 2025. If our asset coverage is not at least 200% or, beginning January 24, 2025, at least 150%, we are not permitted to pay distributions or issue additional senior securities. As a result and if we are unable to comply with our asset coverage requirement under the 1940 Act, we could have difficulty meeting the distribution requirements necessary to maintain RIC tax treatment. Moreover, if the value of our assets declines, we may also be unable to satisfy this asset coverage test. If that happens, we may be required to liquidate a portion of our investments and repay a portion of our indebtedness at a time when we may be unable to do so or unable to do so on favorable terms. We are subject to risks created by the valuation of our portfolio investments. At December 31, 2023, 91% of our investments are in private securities that are not publicly traded. There is typically no public market for securities of the small privately held companies in which we typically invest. Investments are valued on a quarterly basis in accordance with our established valuation policy and are stated at fair value and approved by our Board. The inputs into the determination of fair value of these investments may require significant judgment or estimation. In the absence of a readily ascertainable market value, the estimated value of our investment portfolio may differ significantly, favorably or unfavorably, from the values that would be placed on the portfolio if a ready market for the securities existed and may fluctuate significantly over short periods of time. Any changes in estimated value of our investments are recorded in our consolidated statement of operations as “Net change in unrealized appreciation/depreciation on investments.” In addition, the participation of RCM’s investment professionals in our valuation process may result in a conflict of interest as RCM’s Base Management Fee under the Investment Management Agreement is based, in part, on the value of our gross assets, and the Incentive Fees payable under the Investment Management Agreement are based, in part, on realized gains and realized and unrealized losses. RCM, acting as our investment adviser, operates in a competitive market for investment opportunities. RCM faces significant competition in effecting our investing activities from many entities including private venture capital funds, investment affiliates of large companies, wealthy individuals and other domestic or foreign investors. The competition is not limited to entities that operate in the same general geographical areas as we do. Many of our competitors are substantially larger and have considerably greater financial, technical and marketing resources than we do. For example, some competitors have a lower cost of capital and access to funding sources that are not available to us, including from the Small Business Administration. In addition, increased competition for attractive investment opportunities allows debtors to demand more favorable terms and offer fewer contractual protections to creditors. Some of our competitors have higher risk tolerances or different risk assessments than we do. These characteristics have allowed, and could continue to allow our competitors to consider a wider variety of investments, establish more relationships and offer better pricing and more flexible structuring than we are able to offer. We may lose investment opportunities if we do not match our competitors’ pricing, terms and structure. If we choose to match our competitors’ pricing, terms and structure, we may not be able to achieve acceptable returns on our investments or may bear substantial risk of capital loss. As a regulated BDC, we are also required to disclose quarterly and annually the name and business description of our portfolio companies and the value of their portfolio securities. Most of our competitors are not subject to this public disclosure requirement or similar types of disclosure requirements. This obligation to disclose this information could hinder RCM’s ability to invest in potential portfolio companies on our behalf. Additionally, other regulations, current and future, may make us less attractive as a potential investor to a given portfolio company than a private fund that is not subject to these regulations. There are potential conflicts of interest, including the management of other investment funds and accounts by the principals and certain members of the Investment Committee of RCM, which could impact our investment returns. The principals and certain members of the Investment Committee of RCM manage other funds and accounts, including for entities affiliated with members of the Investment Committee. Accordingly, they have obligations to those investors, the fulfillment of which may not be in the best interests of, or may be adverse to the interests of, us or our shareholders. Although the principals, members of the Investment Committee and other professional staff of RCM are expected to devote as much time to our management as appropriate to enable RCM to perform its duties in accordance with the Investment Management Agreement, the members of the Investment Committee and investment professionals of RCM may have conflicts in allocating their time and services among RCM, on the one hand, and the other managed investment vehicles, on the other hand. RCM, including members of its Investment Committee, may face conflicts in allocating investment opportunities between us and other investment vehicles affiliated with members of the Investment Committee that have overlapping investment objectives with ours. Although RCM, including members of the Investment Committee, and its affiliates that manage other investment portfolios will endeavor to allocate investment opportunities in a fair and equitable manner in accordance with its written allocation policies and procedures, it is possible that, in the future, we may not be given the opportunity to participate in investments made by investment funds managed by RCM or members of the Investment Committee given the requirements or application of such allocation policies and procedures or if such investment is prohibited by laws that are applicable to us. RCM and its affiliates, including some of our officers and directors, face conflicts of interest caused by compensation arrangements with us, which could result in actions that are not in the best interests of our shareholders. RCM and its affiliates receive fees from us in return for their services, including certain incentive fees based on the performance of our investments. These fees could influence the advice provided to us. Generally, the greater the risk assumed by us with respect to our investments, the greater the potential for growth in our assets and profits, and, correlatively, the fees payable by us to RCM under the terms of the Investment Management Agreement. These compensation arrangements could affect RCM or its affiliates’ judgment with respect to investments made by us, which allows RCM to earn increased asset management fees. Our ability to enter into transactions with our affiliates is restricted. We are prohibited under the 1940 Act from participating in certain transactions with certain of our affiliates without the prior approval of the “required majority” of our directors as defined in Section 57(o) of the 1940 Act and, in some cases, the SEC. Any person that owns, directly or indirectly, 5% or more of our outstanding voting securities will be our affiliate for purposes of the 1940 Act, and we will generally be prohibited from buying from, or selling to, such affiliate any securities, absent the prior approval of the “required majority” of our directors as defined in Section 57(o) of the 1940 Act. The 1940 Act also prohibits certain “joint” transactions with certain of our affiliates, including other funds or clients advised by RCM or its affiliates, which in certain circumstances could include investments in the same portfolio company (whether at the same or different times to the extent the transaction involves a joint investment), without prior approval of our Board and, in some cases, the SEC. If a person acquires more than 25% of our voting securities, or is otherwise deemed to control, be controlled by, or be under common control with us, we will be prohibited from buying from, or selling to, such person or certain of that person’s affiliates any securities, or entering into prohibited joint transactions with such persons, absent the prior approval of the SEC. For example, given East’s approximately 64% ownership position in our common stock, this prohibition impacts our ability to participate in certain transactions or investments where East is involved, including with respect to certain of the loans and other securities that were contributed to us by East as part of the consideration for East’s purchase of our common stock in the Transaction, to the extent such loans and other securities are also held by East or another one of our affiliates. Similar restrictions limit our ability to transact business with our officers or directors or their affiliates or anyone who is under common control with us. As a result of these restrictions, we may also be prohibited from buying securities from, or selling securities to, any portfolio company that is controlled by a fund managed by either RCM or its affiliates without the prior approval of the SEC, which may limit the scope of investment or disposition opportunities that would otherwise be available to us. The analysis of whether a particular transaction constitutes a joint transaction requires a review of the relevant facts and circumstances then existing. On October 7, 2020, we, RCM and certain of our affiliates received the Order from the SEC to permit us to co-invest in portfolio companies with certain other affiliates, including other BDCs and registered investment companies, managed by RCM and certain of its affiliates in a manner consistent with our investment objective, subject to compliance with certain conditions. On March 29, 2021, the SEC granted us, RCM, Callodine, and certain of their affiliates the New Order that superseded the Order and permits us to co-invest with affiliates managed by RCM and Callodine. The New Order was sought in connection with the completion of the Adviser Change of Control. After the Adviser Change of Control, Callodine held a controlling interest in RCM. Pursuant to the New Order, we generally are permitted to co-invest with affiliates covered by the New Order if a “required majority” (as defined in Section 57(o) of the 1940 Act) of our independent directors make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transaction, including the consideration to be paid, are reasonable and fair to us and our shareholders and do not involve overreaching of us or our shareholders on the part of any person concerned, (2) the transaction is consistent with the interests of our shareholders and is consistent with our investment objective and strategies, and (3) the investment by our affiliates would not disadvantage us, and our participation would not be on a basis different from or less advantageous than that on which our affiliates are investing. In addition, on September 6, 2022, the SEC granted an amendment to the New Order to permit us to participate in follow-on investments in our existing portfolio companies with certain Affiliated Funds (as defined in the New Order) that do not hold any investments in such existing portfolio companies. In situations when co-investment with funds managed by RCM or its affiliates is not permitted under the 1940 Act and related rules, existing or future staff guidance, or the terms and conditions of the exemptive relief granted to us by the SEC, RCM and its affiliates will need to decide which client or clients (including us) will proceed with the investment. Generally, we will not be entitled to make a co-investment in these circumstances and, to the extent that a client (other than us) is granted the opportunity to proceed with the investment, we will not be permitted to participate in the investment we otherwise may have made. RCM may be paid incentive compensation even if we incur a net loss, and we cannot recover any portion of the incentive fee previously paid. RCM is entitled to incentive compensation under our Investment Management Agreement for each fiscal quarter under the Income Based Fee in an amount equal to a percentage of our pre-incentive fee net investment income, subject to a hurdle rate, a catch-up provision, a cap and a deferral mechanism. For purposes of calculating the Income Based Fee, our pre-incentive fee net investment income excludes realized and unrealized capital losses that we may incur in the fiscal quarter, even if such capital losses result in a net loss for that quarter. Thus, we may be required to pay RCM incentive compensation under the Income Based Fee for a fiscal quarter even if we incur a net loss for that quarter. In addition, if we pay the Capital Gains Fee and thereafter experience additional realized capital losses or unrealized capital losses, we will not be able to recover any portion of the incentive fee previously paid. RCM’s liability is limited under the Investment Management Agreement and the Administration Agreement, and we are required to indemnify RCM against certain liabilities, which may lead RCM to act in a riskier manner on our behalf than it would when acting for its own account. Under the Investment Management Agreement and the Administration Agreement, RCM does not assume any responsibility to us other than to render the services described in the Investment Management Agreement and Administration Agreement, as applicable, and it is not responsible for any action of our Board in declining to follow RCM’s advice or recommendations. Pursuant to the Investment Management Agreement and the Administration Agreement, RCM, its members and their respective officers, managers, partners, agents, employees, controlling persons, members and any other person affiliated with any of them are not liable to us for their acts under the Investment Management Agreement and Administration Agreement, as applicable, absent willful misfeasance, bad faith, gross negligence or reckless disregard in the performance of their duties. We have agreed to indemnify, defend and protect RCM, its members and their respective officers, managers, partners, agents, employees, controlling persons and any other person affiliated with any of them with respect to all damages, liabilities, costs and expenses arising out of or otherwise based upon the performance of any of RCM’s duties or obligations under the Investment Management Agreement or Administration Agreement, as applicable, or otherwise as investment adviser or administrator, as applicable, for us, and not arising out of willful misfeasance, bad faith, gross negligence or reckless disregard in the performance of their duties under the Investment Management Agreement or the Administration Agreement. These protections may lead RCM to act in a riskier manner when acting on our behalf than it would when acting for its own account. Our investment adviser and administrator, RCM, has the right to resign on 60 days’ written notice, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business and results of operations. Our investment adviser and administrator, RCM, has the right, under both the Investment Management Agreement and the Administration Agreement, to resign at any time upon not less than 60 days’ written notice, whether we have found a replacement or not. If RCM resigns, we may not be able to find a new investment adviser or administrator or hire internal management with similar expertise and ability to provide the same or equivalent services on acceptable terms within 60 days, or at all. If we are unable to do so quickly, our operations are likely to experience a disruption, our financial condition, business and results of operations are likely to be adversely affected and the market price of our common stock may decline. Even if we are able to retain comparable management, whether internal or external, the integration of such management and their lack of familiarity with our investment objectives may result in additional costs and time delays that may adversely affect our financial condition, business and results of operations. If we do not invest a sufficient portion of our assets in qualifying assets, we could fail to maintain our qualification as a BDC or be precluded from investing according to our current business strategy. As a BDC, we may not acquire any assets other than “qualifying assets” unless, at the time of and after giving effect to such acquisition, at least 70% of our total assets are qualifying assets. We believe that most of the investments that we may acquire in the future will constitute qualifying assets. However, we may be precluded from investing in what we believe to be attractive investments if such investments are not qualifying assets for purposes of the 1940 Act. If we do not invest a sufficient portion of our assets in qualifying assets, we could violate the 1940 Act provisions applicable to BDCs. As a result of such violation, specific rules under the 1940 Act could prevent us, for example, from making follow-on investments in existing portfolio companies (which could result in the dilution of our position) or could require us to dispose of investments at inappropriate times in order to come into compliance with the 1940 Act. If we need to dispose of such investments quickly, it could be difficult to dispose of such investments on favorable terms. We may not be able to find a buyer for such investments and, even if we do find a buyer, we may have to sell the investments at a substantial loss. Any such outcomes could have a material adverse effect on our business, financial condition, results of operations and cash flows. If we do not maintain our status as a BDC, we would be subject to regulation as a registered closed-end investment company under the 1940 Act. As a registered closed-end investment company, we would be subject to substantially more regulatory restrictions under the 1940 Act, which would significantly decrease our operating flexibility. The fee structure under the Investment Management Agreement may induce RCM to pursue investments and incur leverage, which may not be in the best interests of the shareholders. Under the terms of the Investment Management Agreement, the Base Management Fee is payable even if the value of our investment portfolio declines. The Base Management Fee is calculated based on the total assets (other than cash or cash equivalents but including assets purchased with borrowed funds), as determined according to procedures duly adopted by the Board. Accordingly, the Base Management Fee is payable regardless of whether the value of Rand’s total assets or investment portfolio has decreased during the then-current quarter and creates an incentive for RCM to incur leverage, such as borrowings under our Credit Facility, which may not be consistent with our shareholders’ interests. The Incentive Fee payable to RCM is calculated based on a percentage of our return on invested capital. The terms of the Incentive Fee calculation may create an incentive for RCM to make investments on our behalf that are risky or more speculative than would be the case in the absence of such compensation arrangement. Unlike the Base Management Fee, the Income Based Fee is payable only if the hurdle rate is achieved. Because the portfolio earns investment income on gross assets while the hurdle rate is based on net assets, and because the use of leverage, such as borrowings under our Credit Facility, increases gross assets without any corresponding increase in net assets, RCM may be incentivized to incur leverage to grow the portfolio, which will tend to enhance returns where our portfolio has positive returns and increase the chances that the hurdle rate is achieved. Conversely, the use of leverage may increase losses where our portfolio has negative returns, which would impair the value of our common stock. In addition, RCM receives the Incentive Fees based, in part, upon net capital gains realized on our investments under the Capital Gains Fee. Unlike the Income Based Fee, there is no hurdle rate applicable to the Capital Gains Fee. As a result, RCM may have an incentive to invest more capital in investments that are likely to result in capital gains as compared to income producing securities. Such a practice could result in our investing in more speculative equity securities than would otherwise be the case, which could result in higher investment losses, particularly during economic downturns. We may need to raise additional capital to grow. We may need additional capital to fund new investments and grow. We may access the capital markets periodically to issue equity securities as a means to raise additional capital. Pursuant to the restrictions of the 1940 Act, we are not generally able to issue and sell our common stock at a price below net asset value per share. We may, however, sell our common stock at a price below the then-current net asset value of our common stock if our Board determines that such sale is in the best interests of the Corporation and our shareholders, and our shareholders also approve the sale, giving us the authority to do so. Although we currently do not have such authorization, we may seek such authorization in the future. In addition to amounts available to be borrowed under our Credit Facility, we may also issue debt securities or borrow additional amounts from financial institutions in order to obtain such additional capital, up to the maximum amount permitted by the 1940 Act. The 1940 Act permits us to issue debt securities or incur indebtedness only in amounts such that our asset coverage, as defined in the 1940 Act, equals at least 200%, or beginning after January 24, 2025, at least 150%, immediately after such issuance or incurrence. Unfavorable economic conditions could increase our funding costs and limit our access to the capital markets or result in a decision by lenders not to extend credit to us. Furthermore, the debt capital that may be available to us in the future, if any is available at all, may be at a higher costs and on less favorable terms and conditions. A reduction in the availability of new capital could limit our ability to grow. In addition, we are required to distribute at least 90% of our net ordinary income and net short-term capital gains in excess of net long-term capital losses, if any, to our shareholders to maintain our RIC election. As a result, our earnings may not be able to be retained by the Corporation to fund new investments and, instead, may need to be distributed to shareholders. If we are unable to access the capital markets or if we are unable to borrow from financial institutions, we may be unable to grow our business and execute our business strategy fully, and our earnings, if any, could decrease, which could have an adverse effect on the value of our common stock. We are subject to cybersecurity risks and incidents that may adversely affect our operations, the operations of RCM or the companies in which we invest. A failure in our, or RCM’s, cybersecurity systems could impair our ability to conduct business and damage our business relationships, compromise or corrupt our confidential information and ultimately negatively impact business, financial condition and operating results. Our and RCM’s operations are dependent on secure information technology systems for data processing, storage and reporting. Increased cybersecurity vulnerabilities, threats and more sophisticated and targeted cyber-attacks pose a risk to the security of our and RCM’s information and the information of our portfolio companies. Like other companies, we or RCM may experience threats to our data and systems, including malware and computer virus attacks, unauthorized access, system failures and disruptions. If one or more of these events occurs, it could potentially jeopardize the confidential, proprietary and other information stored in, or transmitted through, our or RCM’s computer systems and networks, or otherwise cause interruptions or malfunctions in our or RCM’s operations, which could result in damage to our or RCM’s reputation, financial losses, litigation, increased costs or regulatory penalties. Furthermore, if one of these events were to occur at one of our portfolio companies, it could impact their business, financial condition and results of operations, which could negatively impact our investment. In addition, these cyber-attacks could affect our and RCM’s computer network, our website or our other service providers (such as, but not limited to, accountants, lawyers, and transfer agents) and could result in operating disruptions or information misappropriation, which could have a material adverse effect on our business operations and the integrity and availability of our financial information. We and RCM have attempted to mitigate these cybersecurity risks by employing a number of processes, procedures and internal controls within our organization and RCM, but we remain potentially vulnerable to additional known and unknown threats. We may experience fluctuations in our annual and quarterly results. We could experience fluctuations in our annual and quarterly operating results due to a number of factors, some of which are beyond our control, including RCM’s ability or inability to make investments in companies that meet our investment criteria, RCM’s transition of our portfolio to include more interest-yielding securities, the interest rate payable on the debt securities acquired and the default rate on such securities, the level of our expenses, variations in and the timing of the recognition of realized and unrealized gains or losses and the timing of RCM’s decision to exit from certain of our investments, the degree to which we encounter competition in the markets in which we operate and general economic conditions. As a result of these factors, results for any period should not be relied upon as being indicative of performance in future quarters or any future fiscal years. We are subject to risks related to corporate social responsibility. Our business and the businesses of our portfolio companies are facing increasing public scrutiny related to environmental, social and governance (“ESG”) activities. We risk damage to our reputation if we fail to act responsibly in several areas, such as diversity, equity and inclusion, environmental stewardship, support for local communities, corporate governance and transparency, and having RCM consider ESG factors in their investment processes on our behalf. Failure to act responsibly with respect to ESG activities could negatively impact our reputation, our relationship with existing and future portfolio companies, and our relationships with our investors, all of which could adversely affect our business and results of operations. Additionally, new regul

Risks Related to Our Investments [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risks related to our Investments We have a limited number of companies in our portfolio of investments and may be subjected to greater risk if any of these companies default. Our portfolio investment values are concentrated in a small number of companies and as such, we may experience a significant loss in our net asset value if one or more of these companies performs poorly or goes out of business. The unrealized or realized depreciation in the value of the securities of any one of these companies would negatively impact our net asset value. The lack of liquidity in our investments may adversely affect our business. RCM, on our behalf, invests, and we expect that RCM will continue, on our behalf, to invest, primarily in portfolio companies whose securities are not publicly traded and may be subject to restrictions on resale, and as a result will be less liquid than publicly traded securities. Most of our investments are or will be either equity securities or debt securities acquired directly from small, private companies. The illiquidity of most of our portfolio may adversely affect our ability to dispose of the securities at times when it may be advantageous for us to liquidate investments. In addition, we may not realize the full value of these private investments if we have to liquidate all or a part of our portfolio investment quickly, given the lack of available markets for their sale. Economic downturns or recessions may adversely affect our portfolio companies’ financial performance and therefore harm our operating results. The United States economy has periodically experienced periods of instability and recessions, including as a result of the COVID-19 pandemic, and the financial results of the small companies in which we invest could be more acutely affected negatively by this instability and suffer deterioration in operational or financial results. This deterioration may have a negative effect on our financial performance. Investing in private companies involves a high degree of risk. We typically invest a substantial portion of our assets in small private companies. These private businesses may be thinly capitalized, unproven companies with risky technologies, products or services, may lack management depth, and may not have attained profitability. Because of the speculative nature and the lack of a public market for these investments, there is significantly greater risk of loss than is the case with securities traded on a public exchange. We expect that some of our investments will become worthless and that some will appear likely to become successful but will never realize their potential. We have historically been risk seeking rather than risk averse in our approach to our investments. Given the incentive compensation components of our arrangement with RCM under the Investment Management Agreement, RCM may have similar incentives to be risk seeking rather than risk averse in making its investment decisions on our behalf. Even if our portfolio companies are able to develop commercially viable technologies, products or services, the market for those new technologies, products and services is likely to be highly competitive and rapidly changing. Commercial success is difficult to predict and the marketing and other efforts of our portfolio companies may not be successful. Any unrealized losses we experience in our portfolio may be an indication of future realized losses, which could reduce our income available for distribution . As a BDC, we are required to carry our investments at fair value as determined in good faith by our Board. Decreases in the fair values of our investments are recorded as unrealized depreciation. Any unrealized losses in our portfolio of debt investments could be an indication of a portfolio company’s inability to meet its debt repayment obligations to us with respect to the affected investments. Any unrealized losses in our portfolio of equity investments could be an indication of operating or other problems at a portfolio company and the possibility that this investment may become worthless in the future. In either such case, this could result in realized losses in the future and ultimately in reductions of our income available for distribution in future periods. We may be subject to risks associated with our origination of, or investment in, covenant-lite loans to our portfolio companies. We have originated or invested in, and may in the future originate or invest in, covenant-lite loans to our portfolio companies, which means the loan agreement or other debt instrument governing these debt obligations contains fewer maintenance covenants than other loan agreements or debt obligations, or no maintenance covenants, and may not include covenants that we could use to monitor the financial performance of the portfolio company borrower, including covenants based upon compliance with financial ratios, and declare a default under the loan agreement or other debt instrument if the specified covenants are breached. While these loans or other debt obligations to portfolio company borrowers may still contain other collateral protections, a covenant-lite loan may carry more risk than a covenant-heavy loan made to the same portfolio company borrower as it does not require this borrower to provide affirmation that certain specific financial tests have been satisfied on a routine basis, as is generally required under a covenant-heavy loan agreement or other debt instrument. Generally, covenant-lite loans or other debt instruments provide borrowers more freedom, which may negatively impact lenders because these covenants, if any, tend to be incurrence-based, meaning they are only tested and can only be breached following an affirmative action of the borrower, rather than by deterioration in the borrower’s financial condition. Should the financial condition of a portfolio company borrower begin to deteriorate, our investment in or origination of covenant-lite loans or other debt instruments to such portfolio company borrower may potentially reduce our ability to restructure such problematic loan and mitigate potential loss. As a result of our investment in or origination of covenant-lite loans, our exposure to losses may be increased, which could result in an adverse impact on the Corporation’s revenues, net income and NAV per share. We provide debt and equity capital primarily to small companies, which may present a greater risk of loss than providing debt and equity capital to larger companies. Our portfolio consists primarily of debt and equity investments in small companies. Compared to larger companies, small companies generally have more limited access to capital and higher funding costs, may be in a weaker financial position and may need more capital to expand, compete and operate their business. They also typically have fewer administrative resources, which can lead to greater uncertainty in their ability to generate accurate and reliable financial data, including their ability to deliver audited financial statements. In addition, many small companies may be unable to obtain financing from the public capital markets or other traditional sources, such as commercial banks, in part because loans made to these types of companies entail higher risks than loans made to companies that have larger businesses, greater financial resources or are otherwise able to access traditional credit sources on more attractive terms. A variety of factors may affect the ability of borrowers to make scheduled payments on debt securities or loans, including failure to satisfy financial targets and covenants, a downturn in a borrower’s industry or changes in the economy in general. In addition, investing in small companies in general involves a number of significant risks, including that small companies: • may have limited financial resources and may be unable to meet their obligations under their debt securities that we hold, which may be accompanied by a deterioration in the value of any collateral and a reduction in the likelihood of us realizing any guarantees we may have obtained in connection with our investment; • typically have shorter operating histories, narrower product lines and smaller market shares than larger businesses, which tend to render small companies more vulnerable to competitors’ actions and market conditions, as well as general economic downturns; • are more likely to depend on the management talents and efforts of a small group of persons; therefore, the death, disability, resignation or termination of one or more of these persons could have a material adverse impact on our portfolio company and, in turn, on us; • generally have less predictable operating results, may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence, and may require substantial additional capital to support their operations, finance expansion or maintain their competitive position; • may from time to time be parties to litigation; • may have difficulty accessing the capital markets to meet future capital needs, which may limit their ability to grow or to repay their outstanding indebtedness upon maturity; and • may be particularly vulnerable to changes in customer preferences and market conditions, depend on a limited number of customers, and face intense competition, including from companies with greater financial, technical, managerial and marketing resources. Any of these factors or changes thereto could impair a small company’s financial condition, results of operation, cash flow or result in other adverse events, such as bankruptcy, any of which could limit a borrower’s ability to make scheduled payments on our debt securities. This, in turn, could result in losses in our investments and a decrease in our net interest income and NAV per share. We may have limited access to information about privately held companies in which we invest. We invest primarily in privately held companies. Generally, little public information exists about these companies, and we are required to rely on the ability of RCM’s investment professionals to obtain adequate information to evaluate the potential returns from investing in these companies. These companies and their financial information are not subject to the Sarbanes-Oxley Act of 2002 and other rules that govern public companies. If we are unable to uncover all material information about these companies, RCM may not make a fully informed investment decision, and we may lose money on our investment. Prepayments of our debt investments by our portfolio companies could adversely impact our results of operations and reduce our returns on equity. We are subject to the risk that investments intended to be held over long periods are, instead, repaid prior to maturity. When this occurs, we will generally reinvest these proceeds in temporary investments that will typically have substantially lower yields than the debt being prepaid or repay outstanding borrowings under our Credit Facility that has a lower interest rate than the yield of the debt being prepaid, and we could experience significant delays in reinvesting these amounts. Any future investment may also be at lower yields or on less favorable terms than the debt that was repaid. As a result, our results of operations could be materially adversely affected if one or more of our portfolio companies elects to prepay amounts owed by them. Additionally, prepayments could negatively impact our return on equity, which could result in a decline in the market price of our common stock. Our portfolio companies may incur debt that ranks equal with, or senior to, our investments in such companies. We invest primarily in debt securities issued by our portfolio companies. In some cases portfolio companies are permitted to have other debt that ranks equal with, or senior to, the debt securities in which we invest. By their terms, such debt instruments may provide that the holders thereof are entitled to receive payment of interest or principal on or before the dates on which we are entitled to receive payments in respect of the debt securities in which we invest. Also, in the event of insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company, holders of debt instruments ranking senior to our investment in that portfolio company would typically be entitled to receive payment in full before we receive any distribution in respect of our investment. After repaying such senior creditors, such portfolio company may not have any remaining assets to use for repaying its obligation to us. In the case of debt ranking equal with debt securities in which we invest, we would have to share on an equal basis any distributions with other creditors holding such debt in the event of an insolvency, liquidation, dissolution, reorganization or bankruptcy of a portfolio company. There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims. Even though we may have structured certain of our investments as senior loans, if one of our portfolio companies were to go bankrupt, depending on the facts and circumstances, including the size of our investment and the extent to which we actually provided managerial assistance to that portfolio company, a bankruptcy court might recharacterize our debt investment and subordinate all or a portion of our claim to that of other creditors. In addition, lenders can be subject to lender liability claims for actions taken by them where they become too involved in the borrower’s business or exercise control over the borrower. It is possible that we could become subject to a lender’s liability claim, including as a result of actions taken in rendering significant managerial assistance. We generally do not control our portfolio companies. We do not have an expectation to control the decision making in our portfolio companies, even though we may have a board seat or board observation rights. Because of this, we are subject to the risk that our portfolio companies will make business decisions with which we disagree or will incur risks or otherwise act in ways that do not maximize their value and serve our interests as minority debt and equity holders. Due to the lack of liquidity in our investments in these private companies, we may not be able to dispose of our investment in these portfolio companies as freely as we would like or at a valuation that we believe is appropriate. As a result, a portfolio company may make decisions that could decrease the value of our portfolio holdings. We typically are a minority shareholder in our portfolio companies in which we have made equity investments. In connection with equity investments, we typically invest as a minority shareholder in our portfolio companies. As a minority shareholder, we are unable to require the company to seek or entertain liquidity events as a way to exit our investments. This may cause us to hold equity investments longer than planned or to seek a sale that may not reflect the full value of our equity investment. We may not have the funds or ability to make follow-on investments in our portfolio companies. We may not have the funds or ability to make additional investments in our portfolio companies. After our initial investment in a company, we may be asked to participate in another round of financing by the company. There is no assurance that we will make, have sufficient funds to make or be permitted to make under the 1940 Act, these follow-on investments. Any decision to not make an additional investment in a portfolio company may have a negative impact on the portfolio company in need of the capital and have a negative impact on our investment in the company.

Risks Related to Our Indebtedness [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risks related to our Indebtedness We borrow money, which magnifies the potential for loss on amounts invested and increases the risk of investing with us. Leverage is generally considered a speculative investment technique, and we intend to continue to borrow money as part of our business plan. The use of leverage magnifies the potential for gain or loss on amounts invested and, therefore, increases the risks associated with investing in us. Lenders of senior debt securities, such as under our Credit Facility, have fixed dollar claims on our assets that are superior to the claims of our shareholders. We have outstanding existing indebtedness and, subject to the limitations imposed under our Credit Agreement, may in the future borrow additional money under our Credit Facility with M&T Bank, as lender, which magnifies the potential for gain or loss on amounts invested and may increase the risk of investing with us. Our ability to service our existing and potential future debt depends largely on our financial performance, which is impacted by the financial performance of our portfolio companies, and is subject to prevailing economic conditions and competitive pressures. If the fair value of our consolidated assets decreases while we have debt outstanding, leveraging would cause our NAV to decline more sharply than it otherwise would have had we not leveraged. In addition, if the fair value of our consolidated assets declines substantially, we may fail to maintain the asset coverage ratios imposed upon us by the 1940 Act or our Lender. Similarly, any decrease in our consolidated income while we have debt outstanding would cause net income to decline more sharply than it would have had we not borrowed. Such a decline could negatively affect our ability to pay distributions to shareholders and the price of our common stock. On January 24, 2024, the Board, including a “required majority” (as such term is defined in Section 57(o) of the 1940 Act) of the Board, approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the 1940 Act, as amended by the Small Business Credit Availability Act (“SBCAA”). Therefore, the Company’s asset coverage requirements for senior securities will automatically be changed from 200% to 150%, effective January 24, 2025. As a result, if we comply with certain disclosure requirements, we will be able to incur additional indebtedness, which may increase the risk of investing in us. As of December 31, 2023, we had $16.25 million in principal amount of outstanding indebtedness under our Credit Facility, which had an annualized interest cost of 8.72%. For us to cover these annualized interest payments on indebtedness, we must achieve annual returns on our investments of at least 8.72%. Since we pay interest at a floating rate on our Credit Facility, an increase in interest rates will generally increase our borrowing costs. We expect that our annualized interest cost and returns required to cover interest will increase if we issue additional debt securities. In order to assist investors in understanding the effects of leverage, the following table illustrates the effect of leverage on returns from an investment in our common stock assuming our asset coverage equals (i) our actual asset coverage as of December 31, 2023, (ii) 200% asset coverage as of December 31, 2023, and (iii) 150% asset coverage as of December 31, 2023, at various annual returns, net of expenses. Leverage generally magnifies the return of shareholders when the portfolio return is positive and magnifies their losses when the portfolio return is negative. Actual returns may be greater or less than those appearing in the table. The calculations in the table below are hypothetical and actual returns may be higher or lower than those appearing below. Effects of Leverage Based on Actual Amount of Borrowings Incurred by us as of December 31, 2023 Assumed Return on Our Portfolio (net of expenses) (1) -10% -5% 0% 5% 10% 15% Corresponding return to a shareholder assuming actual asset coverage as of December 31, 2023 (2) -15.7 % -9.0 % -2.3 % 4.3 % 11.0 % 17.7 % Corresponding return to a shareholder assuming 200% asset coverage as of December 31, 2023 (3) -28.7 % -18.7 % -8.7 % 1.3 % 11.3 % 21.3 % Corresponding return to a shareholder assuming 150% asset coverage as of December 31, 2023 (4) -47.4 % -32.4 % -17.4 % -2.4 % 12.6 % 27.6 % (1) The assumed portfolio return is required by SEC regulations and is not a prediction of, and does not represent, our projected or actual performance. Actual returns may be greater or less than those appearing in the table. Pursuant to SEC regulations, this table is calculated as of December 31, 2023. As a result, it has not been updated to take into account any changes in assets or leverage since December 31, 2023. (2) In order to compute the “Corresponding return to a shareholder assuming actual asset coverage as of December 31, 2023,” the “Assumed Return on Our Portfolio” is multiplied by the total value of our assets at December 31, 2023 to obtain an assumed return to us. From this amount, the interest expense (calculated by multiplying the weighted average stated interest rate of 8.72% by the approximately $16.25 million of principal debt outstanding as of December 31, 2023) is subtracted to determine the return available to shareholders. The return available to shareholders is then divided by the total value of our net assets as of December 31, 2023 to determine the “Corresponding return to a shareholder assuming actual asset coverage as of December 31, 2023.” (3) In order to compute the “Corresponding return to a shareholder assuming 200% asset coverage as of December 31, 2023,” the “Assumed Return on Our Portfolio” is multiplied by the total value of our assets at December 31, 2023 to obtain an assumed return to us. From this amount, the interest expense (calculated by multiplying the weighted average stated interest rate of 8.72% by the approximately $41 million of principal debt outstanding, assuming 200% asset coverage) is subtracted to determine the return available to shareholders. The return available to shareholders is then divided by the total value of our net assets as of December 31, 2023, assuming 200% asset coverage to determine the “Corresponding return to a shareholder assuming 200% asset coverage as of December 31, 2023.” (4) In order to compute the “Corresponding return to a shareholder assuming 150% asset coverage as of December 31, 2023,” the “Assumed Return on Our Portfolio” is multiplied by the total value of our assets at December 31, 2023 to obtain an assumed return to us. From this amount, the interest expense (calculated by multiplying the weighted average stated interest rate of 8.72% by the approximately $54 million of principal debt outstanding, assuming 150% asset coverage) is subtracted to determine the return available to shareholders. The return available to shareholders is then divided by the total value of our net assets as of December 31, 2023, assuming 150% asset coverage to determine the “Corresponding return to a shareholder assuming 150% asset coverage as of December 31, 2023.” Because we often borrow money to make our investments, if market interest rates continue to increase, our cost of capital under our Credit Facility is likely to also increase, which could reduce our net investment income. Because we often borrow money to make investments, our net investment income will depend, in part, upon the difference between the rate at which we borrow funds under our Credit Facility (which is variable rate indebtedness) to make an investment and the rate at which we invest those funds (which, with respect to our debt investments, is fixed rate indebtedness). When interest rates increase, our debt service obligations under our Credit Facility increase even though the amount borrowed remains the same. As a result, an increase in market interest rates, as has occurred in the recent past, may have an adverse effect on our net investment income in the event we use debt to finance our investments and those debt investments carry a fixed interest rate. In periods of rising interest rates, our cost of funds would increase with respect to amounts borrowed under our Credit Facility, but the interest income received from our portfolio companies under our fixed interest rate debt investments will remain constant, which has reduced, and could in the future continue to reduce, our net investment income. Legislation allows us to incur additional leverage. Under the 1940 Act, a BDC generally is not permitted to incur borrowings, issue debt securities or issue preferred stock unless immediately after the borrowing or issuance the ratio of total assets (less total liabilities other than indebtedness) to total indebtedness plus preferred stock is at least 200%. However, under the SBCAA, which became law in March 2018, BDCs have the ability to elect to become subject to a lower asset coverage requirement of 150%, subject to the receipt of the requisite board or shareholder approvals under the SBCAA and satisfaction of certain other conditions. On January 24, 2024, the Board, including a “required majority” (as such term is defined in Section 57(o) of the 1940 Act) of the Board, approved the application of the modified asset coverage requirements set forth in Section 61(a)(2) of the 1940 Act, as amended by the SBCAA. Therefore, the Company’s asset coverage requirements for senior securities will automatically be changed from 200% to 150%, effective January 24, 2025. Pursuant to Section 61(a) of the 1940 Act, as amended by the SBCAA, we will be permitted to potentially increase our maximum debt-to-equity ratio from an effective level of one-to-one to two-to-one. As a result, you may face increased investment risk. We may not be able to implement our strategy to utilize additional leverage successfully. Provisions in our Credit Facility or any other future borrowing facility limit our discretion in operating our business. The Credit Facility is, and any future borrowing facility may be, backed by all of our portfolio company investments on which the lenders will or, in the case of a future facility, may have a security interest. We expect that any security interests we grant will be set forth in a pledge and security agreement and evidenced by the filing of financing statements by the agent for the lenders. If we were to default under the terms of any debt instrument, including under the Credit Facility, the agent for the lenders would be able to assume control of the timing of disposition of any or all of our assets securing such debt, which would have a material adverse effect on our business, financial condition, results of operations and cash flows. In addition, any security interests as well as negative covenants under the Credit Facility or any other borrowing facility may limit our ability to create liens on assets to secure additional debt and may make it difficult for us to restructure or refinance indebtedness at or prior to maturity or obtain additional debt or equity financing. In addition, if our borrowing base under the Credit Facility or any other borrowing facility were to decrease, we would be required to secure additional assets in an amount equal to any borrowing base deficiency. In the event that all of our assets are secured at the time of such a borrowing base deficiency, we could be required to repay advances under the Credit Facility or any other borrowing facility, which could have a material adverse impact on our ability to fund future investments and to make distributions to shareholders. An event of default under the Credit Facility or any other borrowing facility could result in an accelerated maturity date for all amounts outstanding thereunder, which could have a material adverse effect on our business and financial condition. This could reduce our liquidity and cash flows and impair our ability to grow our business and maintain our qualification as a RIC.

Risks Related to Our Common Stock [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risks related to our Common Stock East exercises significant influence over us in connection with its ownership of our common stock. East beneficially owns approximately 64% of Rand’s outstanding common stock. As a result, East is able to direct the outcome of any matters submitted for shareholder action, including approval of significant corporate transactions, such as amendments to our governing documents, business combinations, consolidations, and mergers. East has substantial influence on us and could exercise its influence in a manner that conflicts with the interests of other shareholders. The presence of a significant shareholder may also have the effect of making it more difficult for a third party to acquire us or for the Board to discourage a third party from seeking to acquire us. In addition, pursuant to the terms of the Shareholder Agreement, East has the right to designate two or three persons, depending upon the size of the Board, for nomination for election to the Board. East has the right to designate (i) up to two persons if the size of the Board is composed of fewer than seven directors; or (ii) up to three persons if the size of the Board is composed of seven or more directors. Under the terms of the Shareholder Agreement, East has designated Adam S. Gusky and Benjamin E. Godley for nomination for election to the Board. The designation right provided to East under the terms of the Shareholder Agreement provides East with a significant presence on the Board and direct influence on matters presented to the Board, although all directors, whether or not nominated by East, owe fiduciary duties to all shareholders. Our shares often trade at a discount to our net asset value. Shares of business development companies may trade at a market price that is less than the net asset value that is attributable to those shares and our shares have often traded at such a discount. Our common stock has continued to trade below our net asset value per share during historical periods and may continue this trend of trading below our net asset value per share during future periods. This characteristic of closed-end investment companies is separate and distinct from the risk that our net asset value per share may decline. It is not possible to predict if, or when, our shares will trade at, above, or below net asset value. Investing in our shares may be inappropriate for an investor's risk tolerance. Our investments, in accordance with our investment objective and principal strategies, result in a greater than average amount of risk and volatility and may result in loss of principal. Our investments in portfolio companies are often highly speculative and aggressive and, therefore, an investment in our shares may not be suitable for investors for whom such risk is inappropriate. Neither our investments nor an investment in our shares constitutes a balanced investment program. Sales of substantial amounts of our common stock may have an adverse effect on the market price of our securities. Sales of substantial amounts of our common stock, or the availability of such securities for sale, could adversely affect the prevailing market prices for our common stock.

Risks Related to U.S. Federal Income Tax [Member]

General Description of Registrant [Abstract]

Risk [Text Block]

Risks related to U.S. Federal Income Tax In connection with our RIC election, we may not be able to pay distributions to our shareholders, our distributions may not grow over time and a portion of our distributions may be a return of capital. In connection with our RIC election, we intend to continue to pay distributions in the form of cash dividends to our shareholders out of assets legally available for distribution. However, we cannot assure shareholders that we will achieve investment results that will allow us to make a specified level of cash distributions or results in year over year increases in cash distribution amounts. Our ability to pay distributions might be adversely affected by, among other things, the impact of one or more of the risk factors described herein. In addition, the inability to satisfy the asset coverage test applicable to us as a BDC can limit our ability to pay distributions. All distributions will be paid at the discretion of our Board and will depend on our earnings, our financial condition, maintenance of our RIC status, compliance with applicable BDC regulations and state corporate law requirements and such other factors as our Board may deem relevant from time to time. We cannot assure shareholders that we will pay distributions on our common stock in the future. When we make distributions, we are required to determine the extent to which such distributions are paid out of current or accumulated earnings and profits. Distributions in excess of current and accumulated earnings and profits will be treated as a non-taxable return of capital to the extent of an investor’s basis in our stock and, assuming that an investor holds our stock as a capital asset, thereafter as a capital gain. Generally, a non-taxable return of capital will reduce an investor’s basis in our stock for federal tax purposes, which will result in higher tax liability when the stock is sold. Shareholders should read any written disclosure accompanying a distribution carefully and should not assume that the source of any distribution is our ordinary income or gains. In connection with our RIC Election, we will be subject to corporate-level income tax if we are unable to satisfy certain RIC qualification requirements under Subchapter M of the Code or do not satisfy the annual distribution requirement. No assurance can be given that we will be able to maintain RIC status, and we will be subject to corporate-level U.S. federal income tax if we are unable to maintain qualification as a RIC under Subchapter M of the Code. In order to satisfy the requirements for RIC tax treatment, we must meet the following annual distribution, income source and asset diversification requirements to be relieved of federal taxes on income and gains distributed to our shareholders. • The annual distribution requirement for a RIC will be satisfied if we distribute to our shareholders on an annual basis at least 90% of our net ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses, if any. If we are unable to obtain cash from sources in order to make these distributions, we could fail to qualify for RIC tax treatment and thus become subject to corporate-level U.S. federal income tax. • The income source requirement will only be satisfied if we obtain at least 90% of our income for each year from dividends, interest, gains from the sale of stock or securities or similar sources. • The asset diversification requirement will only be satisfied if we meet certain asset diversification requirements at the end of each quarter of our taxable year. To satisfy this requirement, at least 50% of the value of our assets must consist of cash, cash equivalents, U.S. Government securities, securities of other regulated investment companies, and investments in other securities that, with respect to one issuer, do not represent more than 5% of our total assets or 10% of the voting securities of the issuer; and no more than 25% of the value of our assets can be invested in the securities, other than U.S. Government securities or securities of other regulated investment companies, of one issuer, of two or more issuers that are controlled, as determined under applicable Code rules, by us and that are engaged in the same or similar or related trades or businesses or of certain “qualified publicly traded partnerships.” Failure to meet these requirements may result in our having to dispose of certain investments quickly in order to prevent the loss of regulated investment company status. Because most of our investments will be in private companies, and therefore will be relatively illiquid, any such dispositions could be made at disadvantageous prices and could result in substantial losses. If we fail to satisfy certain RIC qualification requirements under Subchapter M of the Code or to meet the annual distribution requirement for any reason and are subject to corporate-level U.S. federal income tax, the resulting corporate taxes could substantially reduce our net assets, the amount of income available for distribution and the amount of our distributions, if any. Such a failure would have a material adverse effect on us and our shareholders. In connection with our RIC Election, we may have difficulty paying required distributions to shareholders if we recognize income before or without receiving cash representing such income. In connection with our RIC Election, we are required to distribute annually at least 90% of our ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses to maintain our eligibility for RIC tax treatment. For U.S. federal income tax purposes, we include in taxable income certain amounts that we have not yet received in cash, such as contracted payment-in-kind (“PIK”) interest, which represents contractual interest added to the loan balance and due at the end of the loan term. The increases in loan balances as a result of contracted PIK arrangements are included in income in advance of receiving cash payment and are separately identified on our consolidated statements of cash flows. We also may be required to include in income certain other amounts that we will not receive in cash. Any warrants that we receive in connection with our debt investments will generally be valued as part of the negotiation process with the particular portfolio company. As a result, a portion of the aggregate purchase price for the debt investments and warrants will be allocated to the warrants that we receive. This will generally result in our debt instruments having original issue discount (“OID”) for tax purposes, which we must recognize as ordinary income as such original issue discount accrues regardless of whether we have received any corresponding payment of such discount. Other features of debt instruments that we hold may also cause such instruments to generate original issue discount. Since in certain cases we may recognize income before or without receiving cash representing such income, we could have difficulty meeting the requirement to distribute at least 90% of our ordinary income and realized net short-term capital gains in excess of realized net long-term capital losses to maintain our eligibility for RIC tax treatment. Accordingly, we may have to use cash on hand or sell some of our assets, raise additional equity capital or reduce new investment originations to meet these distribution requirements. If we do not have sufficient cash on hand or are unable to obtain cash from other sources to satisfy such distribution requirements, we may fail to qualify for RIC tax treatment and thus may become subject to corporate-level income tax.

[1] Per share data are based on shares outstanding and results are rounded . Average net assets are computed on a quarterly basis for 2019. Share and per share data included in this schedule has been retroactively restated to reflect the effect of the Reverse Stock Split in May 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1. - SUMMARY OF SIGNI FICANT ACCOUNTING POLICIES Nature of Business - Rand Capital Corporation (“Rand” or the “Corporation”) was incorporated under the laws of New York in 1969. Beginning in 1971, Rand operated as a publicly traded, closed-end, management company that was registered under Section 8 of the Investment Company Act of 1940 (the “1940 Act”). In 2001, Rand elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). As a BDC, Rand is required to comply with certain regulatory requirements specified in the 1940 Act. For instance, it generally has to invest at least 70 % of total assets in “qualifying assets” and provide managerial assistance to the portfolio companies in which it invests. In 2002, Rand formed a wholly owned subsidiary Rand Capital SBIC, Inc. (“Rand SBIC”) for the purpose of operating it as a small business investment company (“SBIC”) licensed by the U.S. Small Business Administration (“SBA”) and received an SBA license to operate as an SBIC in 2002. In 2012, the SEC granted an Order of Exemption for Rand with respect to the operations of Rand SBIC. At that time, although Rand SBIC was operated as if it were a BDC, it was registered as an investment company under the 1940 Act. Upon Rand’s receipt of the order granting the exemptions, Rand SBIC filed an election to be regulated as a BDC under the 1940 Act. In November 2021, Rand SBIC repaid its $ 11,000,000 in outstanding debentures to the SBA and received approval from the SBA to surrender its SBA license. This subsidiary was renamed Rand Capital Sub, Inc., and merged with and into Rand Capital Sub LLC (“Rand Sub”). All of Rand’s investments going forward are expected to be made out of Rand Capital Corporation. In November 2019, Rand completed a stock sale transaction (the “Closing”) with East Asset Management (“East”). The transaction consisted of a $ 25 million investment in Rand by East, in exchange for approximately 8.3 million shares of Rand common stock. The consideration paid by East for the shares of Rand common stock was comprised of approximately $ 15.5 million of cash and a contribution of $ 9.5 million of portfolio assets (the “Contributed Assets”). Concurrent with the Closing, Rand’s management and staff became employees of Rand Capital Management, LLC (“RCM”), a registered investment adviser that has been retained by Rand as its external investment adviser. In connection with retaining RCM as investment adviser, on November 8, 2019, Rand entered into an investment advisory and management agreement (the “Prior Investment Management Agreement”) and an administration agreement (the “Prior Administration Agreement”) with RCM pursuant to which RCM serves as Rand’s investment adviser and administrator (the Closing and the retention of RCM as investment adviser and administrator are collectively referred to herein as the “Transaction”). In connection with a change of control of RCM, Rand’s shareholders were asked to approve a new investment advisory and management agreement (the “Investment Management Agreement”) with RCM at a special meeting of shareholders held on December 16, 2020 (the “Special Meeting”). The terms of the Investment Management Agreement are identical to those contained in the Prior Investment Management Agreement, with RCM continuing to provide investment advisory and management services to Rand. Following approval by Rand’s shareholders at the Special Meeting, Rand, on December 31, 2020, entered into the Investment Management Agreement and a new administration agreement (the “Administration Agreement”) with RCM and terminated the Prior Administration Agreement. Pursuant to the terms of the Investment Management Agreement, Rand pays RCM a base management fee and may pay an incentive fee, if specified benchmarks are met. Rand is an externally managed, closed-end, non-diversified management investment company. In connection with the completion of the Transaction, Rand shifted to an investment strategy focused on higher yielding debt investments and elected U.S. Federal tax treatment as a regulated investment company (“RIC”) as of January 1, 2020 on its U.S. Federal tax return for the 2020 tax year. As required for the RIC election, Rand paid a special dividend to shareholders to distribute all of its accumulated earnings and profits since inception to 2019. Rand’s Board of Directors declared a special dividend of $ 23.7 million, or approximately $ 1.62 per share, on March 3, 2020 . The cash and shares of Rand’s common stock comprising the special dividend were distributed on May 11, 2020 to shareholders. In addition, Rand’s Board of Directors declared a 2020 cash dividend of $ 1.33 per share on December 21, 2020 . This cash dividend was paid on January 19, 2021 to shareholders of record as of December 31, 2020 . The cash dividend represented over 90 % of Rand’s estimated investment company taxable income for 2020. The Board of Directors declared the following cash dividends during the year ended December 31, 2022: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.15 March 14, 2022 March 28, 2022 Regular Quarterly 2nd $ 0.15 June 1, 2022 June 15, 2022 Regular Quarterly 3rd $ 0.15 September 1, 2022 September 15, 2022 Regular Quarterly 4th $ 0.20 December 19, 2022 December 30, 2022 Regular Quarterly 4th $ 0.18 December 19, 2022 December 30, 2022 Special The Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special In order to continue to qualify as a RIC, Rand holds several of its equity investments in holding companies that facilitate a tax structure that is advantageous to the RIC election. Rand has the following wholly-owned blocker companies in place at December 31, 2023: Rand BMP Swanson Holdings Corp., Rand Carolina Skiff Holdings Corp., Rand DSD Holdings Corp., Rand Filterworks Holdings Corp., Rand FSS Holdings Corp., Rand INEA Holdings Corp., Rand ITA Holdings Corp., and Rand Somerset Holdings Corp. (the “Blocker Corps”). These subsidiaries are consolidated using United States generally accepted accounting principles (“GAAP”) for financial reporting purposes. The following discussion describes the operations of Rand and its wholly owned subsidiaries Rand Sub, Rand BMP Swanson Holdings Corp., Rand Carolina Skiff Holdings Corp., Rand DSD Holdings Corp., Rand Filterworks Holdings Corp., Rand FSS Holdings Corp., Rand INEA Holdings Corp., Rand ITA Holdings Corp., and Rand Somerset Holdings Corp. (collectively, the “Corporation”). Rand effected a 1-for-9 reverse stock split of its common stock effective May 21, 2020. The reverse stock split affected all issued and outstanding shares of Rand's common stock, including shares held in treasury. The reverse stock split reduced the number of issued and outstanding shares of Rand’s common stock from 23,845,470 shares and 23,304,424 shares, respectively, to 2,648,916 shares and 2,588,800 shares, respectively. The reverse stock split affected all shareholders uniformly and did not alter any shareholder's percentage interest in Rand’s outstanding common stock, except for adjustments for fractional shares. On October 7, 2020, Rand, RCM and certain of their affiliates received an exemptive order from the Securities and Exchange Commission (“SEC”) to permit Rand to co-invest in portfolio companies with certain affiliates, including other BDCs and registered investment companies, managed by RCM and certain of its affiliates in a manner consistent with Rand’s investment objective, policies, strategies and restrictions as well as regulatory requirements, subject to compliance with certain conditions (the “Order”). On March 29, 2021, the SEC granted Rand, Callodine Group, LLC (“Callodine”), which holds a controlling interest in RCM, and certain of their affiliates a new exemptive order (the “New Order”) that superseded the Order and permits Rand to co-invest with affiliates managed by RCM and Callodine. Callodine is a yield focused asset management platform. Pursuant to the New Order, Rand is generally permitted to co-invest with affiliates covered by the New Order if a “required majority” (as defined in Section 57(o) of the 1940 Act) of Rand’s independent directors make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transaction, including the consideration to be paid, are reasonable and fair to Rand and its shareholders and do not involve overreaching in respect of Rand or its shareholders on the part of any person concerned, (2) the transaction is consistent with the interests of Rand’s shareholders and is consistent with Rand’s investment objective and strategies and, (3) the investment by Rand’s affiliates would not disadvantage Rand, and Rand’s participation would not be on a basis different from or less advantageous than that on which Rand’s affiliates are investing. In addition, on September 6, 2022, the SEC granted an amendment to the New Order to permit Rand to participate in follow-on investments in its existing portfolio companies with certain Affiliated Funds (as defined in the New Order) that do not hold any investments in such existing portfolio companies. Basis of Presentation - The accompanying consolidated financial statements have been prepared in accordance with GAAP and pursuant to Regulation S-X and Regulation S-K. The Corporation is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946, Financial Services— Investment Companies. Principles of Consolidation - The consolidated financial statements include the accounts of Rand and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Fair Value of Financial Instruments – The carrying amounts reported in the consolidated statement of financial position of cash, interest receivable, accounts payable and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments. Investment Classification – In accordance with the provisions of the 1940 Act, the Corporation classifies its investments by level of control. Under the 1940 Act “Control Investments” are investments in companies that the Corporation is deemed to “Control” if it owns more than 25 % of the voting securities of the company or has greater than 50 % representation on the company’s board. “Affiliate Investments” are companies in which the Corporation owns between 5 % and 25 % of the voting securities. “Non-Control/Non-Affiliate Investments” are those companies that are neither Control Investments nor Affiliate Investments. Investments - Investments are valued at fair value as determined in good faith by RCM and approved by Rand’s Board of Directors. The Corporation generally invests in loan, debt, and equity instruments and there is no single method for determining fair value of these investments. As a result, determining fair value requires that judgment be applied to the specific facts and circumstances of each portfolio company while employing a consistent valuation process. Due to the inherent uncertainty of determining the fair value of portfolio investments, there may be material risks associated with this determination including that estimated fair values may differ from the values that would have been used had a readily available market value for the investments existed and these differences could be material if the Corporation's assumptions and judgments differ from results of actual liquidation events. The Corporation analyzes and values each investment quarterly and records unrealized depreciation for an investment that it believes has become impaired, including where collection of a loan or debt security or realization of the recorded value of an equity security is doubtful. Conversely, the Corporation will record unrealized appreciation if it believes that an underlying portfolio company has appreciated in value and, therefore, the Corporation's equity securities have also appreciated in value. Additionally, the Corporation continues to assess any material risks associated with this fair value determination, including risks associated with material conflicts of interest. Under the valuation policy of the Corporation, unrestricted publicly traded securities are valued at the closing price for these securities on the last trading day of the reporting period. (See Note 2 “Investments.”) Qualifying Assets - The Corporation’s portfolio of investments includes both qualifying and non-qualifying assets. A majority of the Corporation’s investments represent qualifying investments in privately held businesses, principally based in the United States, and represent qualifying assets as defined by Section 55(a) of the 1940 Act. The non-qualifying assets generally include investments in other publicly traded BDC investment companies and other publicly traded securities. Revenue Recognition - Interest Income - Interest income is recognized on the accrual basis except where the investment is in default or otherwise presumed to be in doubt. In such cases, interest is recognized at the time of receipt. A reserve for possible losses on interest receivable is maintained when appropriate. Interest income is not recognized if collection is doubtful, and a 100 % reserve is established. The collection of interest is presumed to be in doubt when there is substantial doubt about a portfolio company’s ability to continue as a going concern or a loan is in default for more than 120 days. RCM also uses other qualitative and quantitative measures to determine the value of a portfolio investment and the collectability of any accrued interest. The Corporation holds debt securities in its investment portfolio that contain payment-in-kind (“PIK”) interest provisions. PIK interest, computed at the contractual rate specified in each debt agreement, is added to the principal balance of the debt and is recorded as interest income. Thus, the actual collection of this interest may be deferred until the time of debt principal repayment. Revenue Recognition - Dividend Income – The Corporation may receive cash distributions from portfolio companies that are limited liability companies or corporations, and these distributions are classified as dividend income on the consolidated statement of operations. Dividend income is recognized on an accrual basis when it can be reasonably estimated for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. The Corporation may hold preferred equity securities that contain cumulative dividend provisions. Cumulative dividends are recorded as dividend income, if declared and deemed collectible, and any dividends in arrears are recognized into income and added to the balance of the preferred equity investment. The actual collection of these dividends in arrears may be deferred until such time as the preferred equity is redeemed. Revenue Recognition - Fee Income – Consists of the revenue associated with the amortization of financing fees charged to the portfolio companies upon successful closing of financings, income associated with portfolio company board attendance fees, income associated with portfolio company monitoring fees and income associated with portfolio company loan modification fees. The income associated with the amortization of financing fees was $ 205,480 , $ 120,914 and $ 87,018 , for the years ended December 31, 2023, 2022 and 2021, respectively, and is estimated to be approximately $ 169,000 in 2024, $ 164,000 in 2025 and $ 114,000 in 2026 . No board fees were earned during the year ended December 31, 2023. The board fees earned were $ 25,000 and $ 14,096 for the years ended December 31, 2022 and 2021, respectively. During the year ended December 31, 2023, the Corporation recorded $ 115,264 in non-recurring fees related to early repayment fees, loan modification fees, and loan monitoring fees. D uring the year ended December 31, 2022 , the Corporation recorded $ 10,000 in non-recurring loan monitoring fees. During the year ended December 31, 2021 , the Corporation recorded $ 55,500 in non-recurring fees related to prepayment fees, application fees and loan monitoring fees. Realized Gain or Loss and Unrealized Appreciation or Depreciation of Investments - Amounts reported as realized gains and losses are measured by the difference between the proceeds from the sale or exchange and the cost basis of the investment without regard to unrealized gains or losses recorded in prior periods. The cost of securities that have, in management’s judgment, become worthless are written off and reported as realized losses when appropriate. Unrealized appreciation or depreciation reflects the difference between the valuation of the investments and the cost basis of the investments. Original Issue Discount – Investments may include “original issue discount”, or OID, income. This occurs when the Corporation purchases a warrant and a note from a portfolio company simultaneously, which requires an allocation of a portion of the purchase price to the warrant and reduces the purchase price allocated to the note by an equal amount in the form of a note discount or OID. The note is reported net of the OID and the OID is accreted into interest income over the life of the loan. The Corporation recognized $ 21,008 , $ 25,008 and $ 112,175 in OID income for the years ended December 31, 2023, 2022 and 2021 , respectively. OID income is estimated to be approximately $ 16,000 for 2024 . Deferred Financing Fees - Origination and commitment costs related to the senior secured revolving credit facility with M&T Bank, (See Note 5 “Senior Secured Revolving Credit Facility”), are amortized ratably over the term of the Credit Agreement. Amortization expense was approximately $ 25,000 and $ 12,500 for the years ended December 31, 2023 and 2022 , respectively. Amortization expense is estimated to be $ 25,000 in 2024 , $ 25,000 in 2025 , and $ 25,000 in 2026 . Deferred Debenture Costs - SBA debenture origination and commitment costs, which are netted against the debenture, are amortized ratably over the term of the SBA debentures. In November 2021, Rand SBIC repaid its $ 11,000,000 in outstanding debentures to the SBA and expensed all remaining SBA debenture origination and commitment costs. In addition, in November 2021, Rand SBIC received approval from the SBA to surrender its SBA license. There was no amortization expense for the years ended December 31, 2023 or 2022. Amortization expense was approximately $ 175,400 for the year ended December 31, 2021. Net Assets Per Share - Net assets per share are based on the number of shares of common stock outstanding. There are no common stock equivalents outstanding. Supplemental Cash Flow Information - Income taxes paid (refunded) during the years ended December 31, 2023, 2022 and 2021 amounted to $ 645,248 , ($ 5,284 ) and ($ 131,934 ), respectively. Interest paid during the years ended December 31, 2023, 2022 and 2021 was $ 934,638 , $ 48,274 and $ 567,070 , respectively. During 2023, 2022 and 2021 , the Corporation converted $ 1,225,773 , $ 739,356 , and $ 346,045 , respectively, of interest receivable and payment-in-kind (PIK) interest into debt investments. Concentration of Credit and Market Risk – The Corporation’s financial instruments potentially subject it to concentrations of credit risk. Cash is invested with banks in amounts which, at times, exceed insured limits. The Corporation does not anticipate non-performance by the banks. The following are the concentrations of the top five portfolio company values to the fair value of the Corporation’s total investment portfolio: December 31, 2023 Tilson Technology Management, Inc. (Tilson) 14 % BMP Food Service Supply Holdco, LLC (FSS) 10 % Seybert’s Billiards Corporation (Seybert’s) 8 % SciAps, Inc. (Sciaps) 7 % Inter-National Electronic Alloys LLC (INEA) 6 % December 31, 2022 Tilson Technology Management, Inc. (Tilson) 17 % Seybert’s Billiards Corporation (Seybert’s) 10 % SciAps, Inc. (Sciaps) 8 % DSD Operating, LLC (DSD) 8 % Caitec, Inc. (Caitec) 6 % Income Taxes - The Corporation reviews the tax positions it has taken to determine if they meet the "more likely than not threshold" for the benefit of the tax position to be recognized in the financial statements. A tax position that fails to meet the more likely than not recognition threshold will result in either a reduction of a current or deferred tax asset or receivable, or the recording of a current or deferred tax liability. (See Note 4 “Income Taxes.”) Accounting Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements - In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables - Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The Corporation evaluated the impact of the adoption of ASU 2022-02 on its consolidated financial statements and disclosures and determined that this guidance does not have a material impact on its consolidated financial statements. In December 2023, FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for our annual periods beginning January 1, 2025, with early adoption permitted. The Corporation is currently evaluating the potential effect that updated standard will have on its financial statement disclosures.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	NOTE 2. – INVESTMENTS The Corporation’s investments are carried at fair value in accordance with FASB Accounting Standards Codification (ASC) 820, “Fair Value Measurements and Disclosures”, which defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and expands disclosures about fair value measurements. Loan investments are defined as traditional loan financings typically with no equity features or required equity co-investment. Debt investments are defined as debt financings that include one or more equity features such as conversion rights, stock purchase warrants, and/or stock purchase options. Equity investments will be direct investments into a portfolio company and may include preferred stock, common stock, warrants and limited liability company membership interests. The Corporation uses several approaches to determine the fair value of an investment. The main approaches are: • Loan and debt securities are generally valued using a cost approach and will be valued at cost when representative of the fair value of the investment or sufficient assets or liquidation proceeds are expected to exist from a sale of a portfolio company at its estimated fair value. The valuation may also consider the carrying interest rate versus the related inherent portfolio risk of the investment. A loan or debt instrument may be reduced in value if it is judged to be of poor quality, collection is in doubt or insufficient liquidation proceeds exist. • Equity securities may be valued using the “cost approach”, “market approach” or “income approach.” The cost approach uses estimates of the amount that would be required to replace the service capacity of an asset. The market approach uses observable prices and other relevant information generated by similar market transactions. It may include both private and public M&A transactions where the traded price is a multiple of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) or another relevant operating metric. It may also include the market value of comparable public companies that are trading in an active market, or the use of market multiples derived from a set of comparables to assist in pricing the investment. Additionally, the Corporation adjusts valuations if a subsequent significant equity financing has occurred that includes a meaningful portion of the financing by a sophisticated, unrelated new investor. The income approach employs valuation techniques to convert future benefits or costs, usually in the form of cash flows, into a present value amount. The measurement is based on value indicated by current market expectations about those future amounts. ASC 820 classifies the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities, used in the Corporation’s valuation at the measurement date. Under the valuation policy, the Corporation values unrestricted publicly traded companies, categorized as Level 1 investments, at the closing price on the last trading day of the reporting period. Level 2: Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices. Level 3: Unobservable and significant inputs to determining the fair value. Financial assets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Any changes in estimated fair value are recorded in the statement of operations. At December 31, 2023, 9 % of the Corporation’s investments were Level 1 investments and 91 % were Level 3 investments. At December 31, 2022 , 10 % of the Corporation’s investments were Level 1 investments and 90 % were Level 3 investments. There were no Level 2 investments at December 31, 2023 or 2022. In the valuation process, the Corporation values restricted securities, categorized as Level 3 investments, using information from these portfolio companies, which may include: • Audited and unaudited statements of operations, balance sheets and operating budgets; • Current and projected financial, operational and technological developments of the portfolio company; • Current and projected ability of the portfolio company to service its debt obligations; • The current capital structure of the business and the seniority of the various classes of equity if a deemed liquidation event were to occur; • Pending debt or capital restructuring of the portfolio company; • Current information regarding any offers to purchase the investment, or recent fundraising transactions; • Current ability of the portfolio company to raise additional financing if needed; • Changes in the economic environment which may have a material impact on the operating results of the portfolio company; • Internal circumstances and events that may have an impact (both positive and negative) on the operating performance of the portfolio company; • Qualitative assessment of key management; • Contractual rights, obligations or restrictions associated with the investment; and • Other factors deemed relevant to assess valuation. The valuation may be reduced if a portfolio company’s performance and potential have deteriorated significantly. If the factors that led to a reduction in valuation are overcome, the valuation may be readjusted. Equity Securities Equity securities may include preferred stock, common stock, warrants and limited liability company membership interests. The significant unobservable inputs used in the fair value measurement of the Corporation’s equity investments are EBITDA and revenue multiples, where applicable, the financial and operational performance of the business, and the debt and senior equity preferences that may exist in a deemed liquidation event. Standard industry multiples may be used when available; however, the Corporation’s portfolio companies are typically privately-held, lower middle market companies and these industry standards may be adjusted to more closely match the specific financial and operational performance of the portfolio company. Due to the nature of certain investments, fair value measurements may be based on other criteria, which may include third party appraisals. Significant changes in any of these unobservable inputs may result in a significantly higher or lower fair value estimate. Another key factor used in valuing equity investments is a significant recent arms-length equity transaction entered into by the portfolio company with a sophisticated, non-strategic, unrelated, new investor. The terms of these equity transactions may not be identical to the equity transactions between the portfolio company and the Corporation, and the impact of the difference in transaction terms on the market value of the portfolio company may be difficult or impossible to quantify. When appropriate the Black-Scholes pricing model is used to estimate the fair value of warrants for accounting purposes. This model requires the use of highly subjective inputs including expected volatility and expected life, in addition to variables for the valuation of minority equity positions in small private and early stage companies. Significant changes in any of these unobservable inputs may result in a significantly higher or lower fair value estimate. For investments made within the last year, the Corporation generally relies on the cost basis, which is deemed to represent the fair value, unless other fair value inputs are identified causing the Corporation to depart from this basis. Loan and Debt Securities The significant unobservable inputs used in the fair value measurement of the Corporation’s loan and debt securities are the financial and operational performance of the portfolio company, similar debt with similar terms with other portfolio companies, as well as the market acceptance for the portfolio company’s products or services. These inputs will likely provide an indicator as to the probability of principal recovery of the investment. The Corporation’s loan and debt investments are often junior secured or unsecured securities. Fair value may also be determined based on other criteria where appropriate. Significant changes to the unobservable inputs may result in a change in fair value. For recent investments, the Corporation generally relies on the cost basis, which is deemed to represent the fair value, unless other fair value inputs are identified causing the Corporation to depart from this basis. The following table provides a summary of the significant unobservable inputs used to determine the fair value of the Corporation’s Level 3 portfolio investments as of December 31, 2023: Investment Type Market Approach Market Approach Market Approach Market Approach Transaction Pricing Totals Non-Control/Non-Affiliate Equity $ 72,522 $ — $ 700,000 $ 100,063 $ 872,585 Non-Control/Non-Affiliate Loan and Debt 6,829,263 4,465,882 — — 11,295,145 Total Non-Control/Non-Affiliate $ 6,901,785 $ 4,465,882 $ 700,000 $ 100,063 $ 12,167,730 Affiliate Equity $ 5,889,991 $ — $ 3,223,984 $ 10,550,000 $ 19,663,975 Affiliate Loan and Debt 26,177,241 — 2,090,000 5,568,156 33,835,397 Total Affiliate $ 32,067,232 $ — $ 5,313,984 $ 16,118,156 $ 53,499,372 Control Equity $ — $ — $ — $ — $ — Control Debt — 4,148,960 — — 4,148,960 Total Control $ — $ 4,148,960 $ — $ — $ 4,148,960 Total Level 3 Investments $ 38,969,017 $ 8,614,842 $ 6,013,984 $ 16,218,219 $ 69,816,062 Range 4-7X 1X 1X-3X Not Applicable Unobservable Input EBITDA Multiple Asset Value Revenue Multiple Transaction Price Weighted Average 5.4 X 1X 1.7X Not Applicable The following table provides a summary of the components of Level 1, 2 and 3 Assets Measured at Fair Value at December 31, 2023: Fair Value Measurements at Reported Date Using Description December 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Significant Loan investments $ 12,417,977 $ — $ — $ 12,417,977 Debt investments 36,861,525 — — 36,861,525 Equity investments 27,846,210 7,309,650 — 20,536,560 Total $ 77,125,712 $ 7,309,650 $ — $ 69,816,062 The following table provides a summary of changes in Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) for the year ended December 31, 2023: Fair Value Measurements Using Significant Description Loan Investments Debt Equity Total Ending Balance December 31, 2022, of Level 3 Assets $ 14,578,351 $ 19,582,616 $ 20,935,744 $ 55,096,711 Realized gains (losses) included in net change in net assets from operations: ClearView Social, Inc. (Clearview Social) — — 10,432 10,432 DSD Operating, LLC (DSD) — — 2,459,819 2,459,819 Mercantile Adjustment Bureau, LLC (Mercantile) — — 3,440 3,440 Microcision, LLC (Microcision) — — 115,010 115,010 Rheonix, Inc. (Rheonix) — — ( 2,802,731 ) ( 2,802,731 ) SocialFlow, Inc. (Social Flow) — — ( 4,941 ) ( 4,941 ) Somerset Gas Transmission Company, LLC (Somerset) — — ( 448,717 ) ( 448,717 ) Total realized gains (losses) — — ( 667,688 ) ( 667,688 ) Unrealized gains (losses) included in net change in net assets from operations: BMP Food Service Supply Holdco, LLC (FSS) — — 610,000 610,000 BMP Swanson Holdco, LLC (Swanson) — — 266,667 266,667 Caitec, Inc. (Caitec) — — ( 300,000 ) ( 300,000 ) Carolina Skiff LLC (Carolina Skiff) — — ( 249,000 ) ( 249,000 ) DSD — — ( 886,698 ) ( 886,698 ) Open Exchange, Inc. (Open Exchange) — — ( 701,940 ) ( 701,940 ) Post Process Technologies, Inc. (Post Process) — — ( 100,000 ) ( 100,000 ) Rheonix — — 2,802,731 2,802,731 Somerset — — 594,097 594,097 Total unrealized gains (losses) — — 2,035,857 2,035,857 Purchases of securities/changes to securities/non-cash conversions: Caitec 228,606 — 72,522 301,128 DSD 31,652 — — 31,652 FCM Industries Holdco LLC (First Coast Mulch) — 3,818,156 — 3,818,156 Filterworks Acquisition USA, LLC (Filterworks) — 247,841 — 247,841 FSS — 4,535,000 — 4,535,000 GoNoodle, Inc. (GoNoodle) — 14,170 — 14,170 HDI Acquisition LLC (Hilton Displays) — 22,523 — 22,523 Highland All About People Holdings, Inc. (All About People) — 3,049,187 1,000,000 4,049,187 Inter-National Electronic Alloys LLC (INEA) — 3,338,074 1,011,765 4,349,839 ITA Acquisition, LLC (ITA) 612,753 — — 612,753 Mattison Avenue Holdings LLC (Mattison) 37,934 — — 37,934 Pressure Pro, Inc. (Pressure Pro) — 3,063,436 30,000 3,093,436 SciAps, Inc. (Sciaps) — 5,000 — 5,000 Seybert’s Billiards Corporation (Seybert’s) — 125,569 — 125,569 Social Flow — — 4,941 4,941 Swanson 100,115 — — 100,115 Tilson Technology Management, Inc. (Tilson) — — 250,000 250,000 Total purchases of securities/changes to securities/non-cash conversions 1,011,060 18,218,956 2,369,228 21,599,244 Repayments and sale of securities: Clearview Social — — ( 10,432 ) ( 10,432 ) DSD ( 3,171,434 ) — ( 3,527,319 ) ( 6,698,753 ) FSS — ( 640,047 ) ( 210,000 ) ( 850,047 ) Hilton Displays — ( 300,000 ) — ( 300,000 ) Mercantile — — ( 3,440 ) ( 3,440 ) Microcision — — ( 115,010 ) ( 115,010 ) Somerset — — ( 270,380 ) ( 270,380 ) Total repayments and sale of securities ( 3,171,434 ) ( 940,047 ) ( 4,136,581 ) ( 8,248,062 ) Transfers within Level 3 — — — — Transfers out of Level 3 — — — — Ending Balance December 31, 2023, of Level 3 Assets $ 12,417,977 $ 36,861,525 $ 20,536,560 $ 69,816,062 Change in unrealized appreciation/depreciation included in earnings related to Level 3 investments still held at reporting date $ ( 474,273 ) The following table provides a summary of the significant unobservable inputs used to determine the fair value of the Corporation’s Level 3 portfolio investments as of December 31, 2022: Investment Type Market Approach Market Approach Market Approach Market Approach Transaction Pricing Totals Non-Control/Non-Affiliate Equity $ 300,000 $ 125,000 $ 1,401,940 $ 200,063 $ 2,027,003 Non-Control/Non-Affiliate Loan and Debt 6,840,200 2,201,712 — 2,250,000 11,291,912 Total Non-Control/Non-Affiliate $ 7,140,200 $ 2,326,712 $ 1,401,940 $ 2,450,063 $ 13,318,915 Affiliate Equity $ 4,784,757 $ — $ 3,223,984 $ 10,900,000 $ 18,908,741 Affiliate Loan and Debt 12,997,848 — 2,085,000 4,250,000 19,332,848 Total Affiliate $ 17,782,605 $ — $ 5,308,984 $ 15,150,000 $ 38,241,589 Control Equity $ — $ — $ — $ — $ — Control Debt — 3,536,207 — — 3,536,207 Total Control $ — $ 3,536,207 $ — $ — $ 3,536,207 Total Level 3 Investments $ 24,922,805 $ 5,862,919 $ 6,710,924 $ 17,600,063 $ 55,096,711 Range 5-6.5X 1X 1X-4X Not Applicable Unobservable Input EBITDA Multiple Asset Value Revenue Multiple Transaction Price Weighted Average 5.5 X 1X 2.0X Not Applicable The following table provides a summary of the components of Level 1, 2 and 3 Assets Measured at Fair Value at December 31, 2022: Fair Value Measurements at Reported Date Using Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Significant Loan investments $ 14,578,351 $ — $ — $ 14,578,351 Debt investments 19,582,616 — — 19,582,616 Equity investments 27,343,292 6,407,548 — 20,935,744 Total $ 61,504,259 $ 6,407,548 $ — $ 55,096,711 The following table provides a summary of changes in Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) for the year ended December 31, 2022: Fair Value Measurements Using Significant Description Loan Investments Debt Equity Total Ending Balance December 31, 2021, of Level 3 Assets $ 15,503,404 $ 14,030,078 $ 20,633,935 $ 50,167,417 Realized gains (losses) included in net change in net assets from operations: ClearView Social, Inc. (Clearview Social) — — 53,783 53,783 GiveGab, Inc. (Givegab) — — 1,919 1,919 Microcision, LLC (Microcision) — — 190,000 190,000 New Monarch Machine Tool, Inc. (New Monarch) — — ( 22,841 ) ( 22,841 ) SocialFlow, Inc. (Social Flow) — — ( 1,481,498 ) ( 1,481,498 ) Total realized gains (losses) — — ( 1,258,637 ) ( 1,258,637 ) Unrealized gains (losses) included in net change in net assets from operations: Carolina Skiff LLC (Carolina Skiff) — — 657,000 657,000 DSD Operating, LLC (DSD) — — 886,698 886,698 ITA Acquisition, LLC (ITA) — — ( 748,810 ) ( 748,810 ) Knoa Software, Inc. (Knoa) — — ( 379,155 ) ( 379,155 ) Microcision — — 25,000 25,000 New Monarch — — 22,841 22,841 OnCore Golf Technology, Inc. (OnCore) — — ( 200,000 ) ( 200,000 ) Open Exchange, Inc. (Open Exchange) — — ( 4,168,060 ) ( 4,168,060 ) Post Process Technologies, Inc. (Post Process) — — ( 248,875 ) ( 248,875 ) SciAps, Inc. (Sciaps) — — 2,152,984 2,152,984 Social Flow — — 1,628,000 1,628,000 Somerset Gas Transmission Company, LLC (Somerset) — — ( 375,000 ) ( 375,000 ) Tilson Technology Management, Inc. (Tilson) — — 1,374,985 1,374,985 Total unrealized gains (losses) — — 627,608 627,608 Purchases of securities/changes to securities/non-cash conversions: BMP Food Service Supply Holdco, LLC (FSS) — 2,500,000 600,000 3,100,000 Caitec, Inc. (Caitec) 73,326 — — 73,326 DSD 380,599 — — 380,599 Filterworks Acquisition USA, LLC (Filterworks) — 186,488 139,232 325,720 GoNoodle, Inc. (GoNoodle) — 14,142 — 14,142 HDI Acquisition LLC (Hilton Displays) — 26,587 — 26,587 ITA 99,595 — 623,810 723,405 Mattison Avenue Holdings LLC (Mattison) 37,175 — — 37,175 Sciaps — 605,000 — 605,000 Seybert’s Billiards Corporation (Seybert’s) — 2,310,496 194,000 2,504,496 Total purchases of securities/changes to securities/non-cash conversions 590,695 5,642,713 1,557,042 7,790,450 Repayments and sale of securities: Clearview Social — — ( 53,783 ) ( 53,783 ) Empire Genomics, Corp. (Empire) ( 1,444,915 ) — — ( 1,444,915 ) Givegab — — ( 1,919 ) ( 1,919 ) GoNoodle — ( 90,175 ) — ( 90,175 ) Microcision — — ( 300,000 ) ( 300,000 ) Social Flow — — ( 268,502 ) ( 268,502 ) Lumious (Tech 2000, Inc.) ( 70,833 ) — — ( 70,833 ) Total repayments and sale of securities ( 1,515,748 ) ( 90,175 ) ( 624,204 ) ( 2,230,127 ) Transfers within Level 3 — — — — Transfers out of Level 3 — — — — Ending Balance December 31, 2022, of Level 3 Assets $ 14,578,351 $ 19,582,616 $ 20,935,744 $ 55,096,711 Change in unrealized appreciation/depreciation included in earnings related to Level 3 investments still held at reporting date $ ( 1,048,233 )

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2023
Other Assets [Abstract]
Other Assets	NOTE 3. - OTHER ASSETS Other assets was comprised of the following at December 31: 2023 2022 Dividend receivables $ 85,090 $ 102,655 Deferred financing fees, net 87,500 112,500 Prepaid expenses 16,711 10,905 Escrow receivables — 68,983 Total other assets $ 189,301 $ 295,043

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 4. - INCOME TAXES The Corporation elected to be treated, for income tax purposes, as a RIC for the 2023, 2022 and 2021 tax years under Subchapter M of the Code. As a result, the Corporation did no t pay corporate-level federal income taxes on any net ordinary income or capital gains that the Corporation distributed to its stockholders as dividends. The Corporation must distribute substantially all of its investment company taxable income each tax year as dividends to its stockholders to maintain its RIC status. Depending on the level of taxable income earned in a tax year, the Corporation may choose to carry forward taxable income in excess of current year dividend distributions from such current year taxable income into the next tax year and pay a 4 % excise tax on such income, as required. To the extent that the Corporation determines that its estimated current year taxable income will be in excess of estimated dividend distributions for the current year from such income, the Corporation accrues excise tax, if any, on estimated excess taxable income as such taxable income is earned. The Corporation incurred $ 52,800 in federal excise tax expense during the year ended December 31, 2023 . The Corporation did no t incur any federal excise tax expense during the year ended December 31, 2022. Distributions from net investment income and distributions from net realized capital gains are determined in accordance with U.S. federal tax regulations, which may differ from amounts determined in accordance with GAAP and those differences could be material. These book-to-tax differences are either temporary or permanent in nature. Reclassifications due to permanent book-tax differences, including non-deductible taxes and the tax treatment of earnings from the subsidiaries, have no impact on net assets. The following differences were reclassified for tax purposes for the years ended December 31, 2023 and December 31, 2022 1 : 2023 2022 Increase (decrease) in capital in excess of par value $ 4,336,903 $ ( 215,542 ) (Decrease) increase in total distributable earnings ( 4,336,903 ) 215,542 Taxable income generally differs from net increase (decrease) in net assets for financial reporting purposes due to temporary and permanent differences in the recognition of income and expenses and generally excludes unrealized appreciation (depreciation) on investments, as investment gains and losses are not included in taxable income until they are realized. 1 The Corporation’s permanent book-to-tax reclassifications for 2023 are an estimate and will not be finalized until the Corporation files its 2023 federal income tax returns in 2024. Therefore, the Corporation’s actual permanent book-to tax reclassifications may be different than this estimate. The following table reconciles net increase in net assets resulting from operations to taxable income for the years ended December 31, 2023 and December 31, 2022: 2023 2022 Net increase (decrease) in net assets resulting from operations $ 6,526,650 $ ( 881,849 ) Net change in unrealized appreciation/depreciation on investments ( 2,867,520 ) 6,017,752 Net change in deferred tax asset/liability ( 77,734 ) 44,862 GAAP versus tax basis consolidation of subsidiaries ( 1,332,687 ) ( 863,702 ) Other permanent book income and tax income differences 1,348,624 170,680 Temporary book income and tax income differences ( 82,198 ) ( 803,001 ) Taxable income 2 $ 3,515,135 $ 3,684,742 For tax purposes, distributions paid to shareholders are reported as ordinary income, long term capital gains and return of capital, or a combination thereof. The tax character of distributions paid and deemed paid during the years ended December 31, 2023 and December 31, 2022 was as follows: 2023 2022 Ordinary income $ 3,432,757 $ 2,142,247 Long-term capital gains — — Return of Capital — — Total $ 3,432,757 $ 2,142,247 The determination of the tax attributes of the Corporation’s distributions is made annually as of the end of the Corporation’s fiscal year based upon the Corporation’s taxable income for the full year and distributions paid for the full year. The actual tax characteristics of distributions to shareholders are reported to shareholders annually on Form 1099-DIV. The tax basis components of distributable earnings (accumulated losses) and reconciliation to accumulated earnings (deficit) on a book basis for the years ended December 31, 2023 and December 31, 2022 were as follows: 2023 2022 Undistributed ordinary income – tax basis $ 332,806 $ 250,428 Capital loss carry forwards ( 1,546,597 ) — Unrealized appreciation on investments 9,906,212 5,993,782 GAAP vs tax basis consolidation of subsidiaries — 863,702 Other temporary differences ( 2,376,665 ) 1,389,575 Total accumulated earnings – book basis $ 6,315,756 $ 8,497,487 The differences between components of distributable earnings on a tax basis and the amounts reflected in the consolidated statement of changes in net assets are primarily due to temporary book-tax differences that will reverse in subsequent periods. As of December 31, 2023 , the Corporation had a net capital loss carry forward of $ 1,546,597 , which is considered long-term. This loss may be carried forward indefinitely. 2 The Corporation’s taxable income for 2023 is an estimate and will not be finalized until the Corporation files its 2023 federal income tax returns in 2024. Therefore, the Corporation’s actual taxable income and the Corporation’s actual taxable income that was earned in 2023 and carried forward for distribution in 2024 may be different than this estimate. The Corporation had the following wholly-owned blocker companies in place at December 31, 2023 : Rand BMP Swanson Holdings Corp., Rand Carolina Skiff Holdings Corp., Rand DSD Holdings Corp., Rand Filterworks Holdings Corp., Rand FSS Holdings Corp., Rand INEA Holdings Corp., Rand ITA Holdings Corp., and Rand Somerset Holdings Corp. (the “Blocker Corps”), which are taxable entities and therefore are not consolidated for tax purposes. The primary purpose of the Blocker Corps is to permit the Corporation to hold certain equity interests in portfolio companies that are organized as limited liability companies, or LLCs (or other forms of pass-through entities), and still allow the Corporation to satisfy the RIC tax requirement that at least 90 % of its gross income for U.S. federal income tax purposes must consist of qualifying investment income. The Blocker Corps are taxed at standard corporate tax rates based on their taxable income. At December 31, 2023 , the Corporation had a net deferred tax asset of $ 39,179 that primarily related to net operating loss carryforwards, business interest expense carryforwards, and capital loss carryforwards within the Blocker Corps. At December 31, 2022 , the Corporation had a net deferred tax asset of $ 28,160 that primarily related to unrealized appreciation on investments held in the Blocker Corps. Income Taxes on Blocker Corporations Deferred tax assets and liabilities are recorded for temporary differences between the financial statement and tax bases of assets and liabilities using the tax rate expected to be in effect when the taxes are actually paid or recovered. The tax effect of the major temporary differences and carryforwards that give rise to the Corporation’s net deferred tax asset at December 31, 2023 and 2022 are approximately as follows: 2023 2022 Investments $ ( 644,497 ) $ ( 234,730 ) NOL & tax credit carryforwards 683,676 262,890 Deferred tax asset, net $ 39,179 $ 28,160 The major temporary differences cited above include differences in the book and tax bases of the Corporation’s portfolio company investments, as well as unrealized gains and losses on corporate investments that will be taxed when realized in future years. The Corporation assesses the recoverability of its deferred tax assets annually to determine if a valuation allowance is necessary. The Corporation records a valuation allowance against the deferred tax assets if and to the extent it is more likely than not that the Corporation will not recover the deferred tax assets. In evaluating the need for a valuation allowance, the Corporation weights all relevant positive and negative evidence, and considers among other factors, historical financial performance, projected future taxable income, scheduled reversals of deferred tax liabilities, the overall business environment, and tax planning strategies. Changes in circumstances, including the Blocker Corps generating significant taxable income and tax planning strategies, could cause a change in judgment about the need for a valuation allowance of the related deferred tax assets. Any change in the valuation allowance will be included in income in the period of the change in estimate. Accordingly, during the year ended December 31, 2023 , the Corporation estimated that a portion of its Blocker Corps’ deferred tax assets, related to a capital loss realized in 2023, is not expected to be fully recoverable in the future. As a result, the Corporation recorded a partial valuation allowance of approximately $ 131,000 during the year ended December 31, 2023 against its U.S. Federal deferred tax assets. There was no valuation allowance prior to this date. The components of income tax expense (benefit) reported in the consolidated statements of operations are as follows for the years ended December 31: 2023 2022 2021 Current: Federal $ 609,056 $ 173,235 $ 85,829 State 58,320 ( 2,555 ) 14,835 667,376 170,680 100,664 Deferred: Federal ( 13,797 ) 92,304 ( 279,167 ) State 2,778 60,538 ( 22,977 ) ( 11,019 ) 152,842 ( 302,144 ) Total $ 656,357 $ 323,522 $ ( 201,480 ) A reconciliation of the expense (benefit) from income taxes at the federal statutory rate to the expense reported is as follows: 2023 2022 2021 Net investment income (loss), realized gain (loss) and unrealized gain (loss) before income taxes $ 7,183,007 $ ( 558,327 ) $ 15,595,948 Expected tax expense (benefit) at statutory rate 1,508,431 ( 117,249 ) 3,275,149 State - net of federal effect 48,267 45,807 ( 8,142 ) Pass-through expense (benefit) from portfolio investment 487 721 ( 46,210 ) Valuation allowance 131,338 — — Tax benefit of RIC status ( 1,067,238 ) 400,329 ( 3,426,735 ) RIC excise tax expense 52,800 — — Other ( 17,728 ) ( 6,086 ) 4,458 Total $ 656,357 $ 323,522 $ ( 201,480 ) At December 31, 2023 and 2022 , the Corporation had $ 2,244,664, and $ 955,952 , respectively, of federal net operating loss carryforwards, $ 766,621 and $ 291,416 , respectively, of business interest expense carryforwards and $ 625,419 and $ 0 , respectively, of capital loss carryforwards. For state tax purposes, there were various state net operating loss carryforwards totaling $ 1,957,489 and $ 567,127 at December 31, 2023 and 2022, respectively. Under the provisions of Section 382 of the Internal Revenue Code (“IRC”), net operating loss and credit carryforwards and other tax attributes may be subject to limitations if there has been a significant change in ownership in the Corporation, as defined by the IRC. Prior to the completion of the transaction with East in November 2019, the Corporation was able to utilize the remaining federal net operating losses. However, state net operating losses may be subject to similar limitations. The Corporation is currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2020 through 2023. In general, the Corporation’s state income tax returns are open to audit under the statute of limitations for the years ended December 31, 2020 through 2023. It is the Corporation’s policy to include interest and penalties related to income tax liabilities in income tax expense on the Statement of Operations. In addition, the Corporation records uncertain tax positions in accordance with ASC 740, “Income Taxes”, (“ASC 740”). ASC 740 provides guidance for how uncertain tax positions should be recognized, measured, presented, and disclosed in the financial statements. The uncertain tax benefits for the years ended December 31, 2023, 2022 and 2021 were de minimis. No amounts were recorded for interest and penalties related to unrecognized tax positions for the years ended December 31, 2023 and 2022 and $ 2,627 was recorded in interest for the year ended December 31, 2021 for a late payment of federal taxes owing. For the year ended December 31, 2022, the Corporation received $ 10,116 in interest income relating to an IRS carryback claim.

Senior Secured Revolving Credit

Senior Secured Revolving Credit Facility	12 Months Ended
	Dec. 31, 2023
Line of Credit Facility [Abstract]
Senior Secured Revolving Credit Facility	NOTE 5. – SENIOR SECURED REVOLVING CREDIT FACILITY On June 27, 2022, the Corporation entered into a credit agreement (the “Credit Agreement”) with M&T Bank, as lender (the “Lender”), which provides the Corporation with a senior secured revolving credit facility in a principal amount not to exceed $ 25.0 million (the “Credit Facility”). The amount the Corporation can borrow, at any given time, under the Credit Facility is tied to a borrowing base, which is measured as (i) 75 % of the aggregate sum of the fair market values of the publicly traded equity securities held (other than shares of ACV Auctions) plus (ii) the least of (a) 75 % of the fair market value of the shares of ACV Auctions held, (b) $ 6.25 million and (c) 25 % of the aggregate borrowing base availability for the Credit Facility at any date of determination plus (iii) 50 % of the aggregate sum of the fair market values of eligible private loans held that meet specified criteria plus (iv) the lesser of (a) 50 % of the aggregate sum of the fair market values of unsecured private loans held that meet specified criteria and (b) $ 1.25 million minus (v) such reserves as the Lender may establish from time to time in its sole discretion. The Credit Facility has a maturity date of June 27, 2027 . Under the borrowing base formula described above, the unused line of credit balance for the Credit Facility was $ 8,750,000 at December 31, 2023. The Corporation’s borrowings under the Credit Facility bear interest at a variable rate determined as a rate per annum equal to 3.50 percentage points above the greater of (i) the applicable daily simple secured overnight financing rate (SOFR) and (ii) 0.25 %. At December 31, 2023 , the Corporation's applicable interest rate was 8.88 %. In addition, under the terms of the Credit Facility, the Corporation has also agreed to pay the Lender an unused commitment fee on a quarterly basis, computed as 0.30 % multiplied by the average daily Unused Commitment Fee Base (which is defined as the difference between (i) $ 25.0 million and (ii) the sum of the aggregate principal amount of the Corporation’s outstanding borrowings under the Credit Facility) for the preceding quarter. The Credit Agreement contains representations and warranties and affirmative, negative and financial covenants usual and customary for agreements of this type, including among others, covenants that prohibit, subject to certain specified exceptions, the Corporation’s ability to merge or consolidate with other companies, sell any material part of the Corporation’s assets, incur other indebtedness, incur liens on the Corporation’s assets, make investments or loans to third parties other than permitted investments and permitted loans, and declare any distribution or dividend other than certain permitted distributions. The Credit Agreement includes the following financial covenants: (i) a tangible net worth covenant that requires the Corporation to maintain a Tangible Net Worth (defined in the Credit Agreement as the Corporation’s aggregate assets, excluding intangible assets, less all liabilities) of not less than $ 50.0 million, which is measured quarterly at the end of each fiscal quarter, (ii) an asset coverage ratio covenant that requires the Corporation to maintain an Asset Coverage Ratio (defined in the Credit Agreement as the ratio of the fair market value of all of the Corporation’s assets to the sum of all of the Corporation’s obligations for borrowed money plus all capital lease obligations) of not less than 3:1 , which is measured quarterly at the end of each fiscal quarter and (iii) an interest coverage ratio covenant that requires the Corporation to maintain an Interest Coverage Ratio (defined in the Credit Agreement as the ratio of Cash Flow (as defined in the Credit Agreement) to Interest Expense (as defined in the Credit Agreement)) of not less than 2.5:1 , which is measured quarterly on a trailing twelve-months basis. Events of default under the Credit Agreement which permit the Lender to exercise its remedies, including acceleration of the principal and interest on the Credit Facility, include, among others: (i) default in the payment of principal or interest on the Credit Facility, (ii) default by the Corporation on any other obligation, condition, covenant or other provision under the Credit Agreement and related documents, (iii) failure by the Corporation to pay any material indebtedness or obligation owing to any third party or affiliate, or the failure by the Corporation to perform any agreement with any third party or affiliate that would have a material adverse effect on the Corporation and its subsidiaries taken as a whole, (iv) the sale of all or substantially all of the Corporation’s assets to a third party, (v) various bankruptcy and insolvency events, and (vi) any material adverse change in the Corporation and its subsidiaries, taken as a whole, or their business, assets, operations, management, ownership, affairs, condition (financial or otherwise) or the Lender’s collateral that the Lender reasonably determines will have a material adverse effect on the Lender’s collateral, the Corporation and its subsidiaries, taken as a whole, or their business, assets, operation or condition (financial or otherwise) or on the Corporation’s ability to repay its debts. In connection with entry into the Credit Facility, the Corporation and each of its subsidiaries that guaranty the Credit Facility entered into a general security agreement, dated June 27, 2022, with the Lender (the “Security Agreement”). The Security Agreement secures all of the Corporation’s obligations to the Lender, including, without limitation, principal and interest on the Credit Facility and any fees and charges. The security interest granted under the Security Agreement covers all of the Corporation’s personal property including, among other things, all accounts, chattel paper, investment property, deposit accounts, general intangibles, inventory, and all of the fixtures. The Security Agreement contains various representations, warranties, covenants and agreements customary in security agreements and various events of default with remedies under the New York Uniform Commercial Code and the Security Agreement. Events of default under the Security Agreement, which permit the Lender to exercise its various remedies, are similar to those contained in the Credit Agreement. The outstanding balance drawn on the Credit Facility at was $ 16,250,000 and $ 2,550,000 at December 31, 2023 and December 31, 2022 , respectively. A closing fee of $ 125,000 was paid related to the closing of this Credit Facility during the year ended December 31, 2022. The unamortized closing fee was $ 87,500 and $ 112,500 as of December 31, 2023 and December 31, 2022, respectively, and it is recorded in Other Assets on the Consolidated Statements of Financial Position. Amortization expense related to the Credit Facility during the years ended December 31, 2023 and 2022 was $ 25,000 and $ 12,500 , respectively. For the years ended December 31, 2023 and 2022, the average debt outstanding under the Credit Facility and weighted average interest rate were as follows: 2023 2022 Average debt outstanding $ 11,180,959 $ 253,562 Weighted average interest rate 8.72 % 7.90 % Information about the Corporation’s senior securities (including debt securities and other indebtedness) is shown in the following table. Year Total Amount Asset Coverage Involuntary Liquidation Average Market December 31, 2022 Credit Facility $ 2,550,000 $ 23,636 N/A N/A December 31, 2023 Credit Facility 16,250,000 4,737 N/A N/A (1) Total amount of each class of senior securities outstanding at the end of the period presented (2) Asset coverage per unit is the ratio of the carrying value of the Corporation’s total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $ 1,000 of indebtedness. (3) The amount to which such class of senior security would be entitled upon the voluntary liquidation of the issuer in preference to any security junior to it. The N/A in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior securities. (4) Average market value per unit is not applicable because these are not registered for public trading.

Stockholders' Equity (Net Asset

Stockholders' Equity (Net Assets)	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity (Net Assets)	NOTE 6. - STOCKHOLDERS’ EQUITY (NET ASSETS) At December 31, 2023 and 2022 , there were 500,000 shares of $ 10.00 par value preferred stock authorized and unissued. On April 19, 2023 , the Board of Directors approved a new share repurchase plan, which authorizes the Corporation to repurchase shares of the Corporation’s outstanding common stock with an aggregate cost of up to $ 1,500,000 at prices per share of common stock no greater than the then current net asset value per share. This new share repurchase authorization lasts for a period of 12 months from the authorization date until April 19, 2024. This new share repurchase plan replaces the share repurchase authorization that was previously approved by the Board of Directors in April 2022 . No shares of Rand's common stock were repurchased by the Corporation during the years ended December 31, 2023 or 2022. The Corporation’s Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special Summary of changes in equity accounts: Common Stock Capital in excess of par value Treasury Stock, at cost Total distributable earnings (losses) Total Stockholders’ January 1, 2022 $ 264,892 $ 51,679,809 $ ( 1,566,605 ) $ 10,367,320 $ 60,745,416 Dividend declaration — — — ( 2,142,247 ) ( 2,142,247 ) Tax reclassification of stockholders’ equity in accordance with generally accepted accounting principles — ( 215,542 ) — 215,542 — Net decrease in net assets from operations — — — ( 881,849 ) ( 881,849 ) December 31, 2022 $ 264,892 $ 51,464,267 $ ( 1,566,605 ) $ 7,558,766 $ 57,721,320 January 1, 2023 $ 264,892 $ 51,464,267 $ ( 1,566,605 ) $ 7,558,766 $ 57,721,320 Dividend declaration — — — ( 3,432,757 ) ( 3,432,757 ) Tax reclassification of stockholders’ equity in accordance with generally accepted accounting principles — 4,336,903 — ( 4,336,903 ) — Net increase in net assets from operations — — — 6,526,650 6,526,650 December 31, 2023 $ 264,892 $ 55,801,170 $ ( 1,566,605 ) $ 6,315,756 $ 60,815,213

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7. - COMMITMENTS AND CONTINGENCIES The Corporation had no commitments at December 31, 2023 or 2022 .

Quarterly Operations and Earnin

Quarterly Operations and Earnings Data - Unaudited	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operations and Earnings Data - Unaudited	NOTE 8. - QUARTERLY OPERATIONS AND EARNINGS DATA – UNAUDITED 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter 2023 Investment income $ 1,930,119 $ 1,741,114 $ 1,815,432 $ 1,851,498 Net increase in net assets from operations $ 1,088,979 $ 595,504 $ 2,671,890 $ 2,170,277 Basic and diluted net increase in net assets from operations per weighted share outstanding $ 0.42 $ 0.23 $ 1.04 $ 0.84 2022 Investment income $ 1,732,986 $ 1,554,265 $ 1,353,182 $ 1,124,748 Net increase (decrease) in net assets from operations $ 320,175 $ 1,104,902 $ ( 1,896,389 ) $ ( 410,537 ) Basic and diluted net increase (decrease) in net assets from operations per weighted share outstanding $ 0.12 $ 0.43 $ ( 0.73 ) $ ( 0.16 )

Allowance For Credit Losses

Allowance For Credit Losses	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Allowance For Credit Losses	NOTE 9. – ALLOWANCE FOR CREDIT LOSSES The Corporation maintains an allowance for credit losses for estimated uncollectible interest payments due from portfolio investments. The allowance for credit losses is based on a review of the overall condition of the receivable balances and a review of past due amounts. Changes in the allowance for credit losses consist of the following: 2023 2022 2021 Balance at beginning of year $ — $ — $ ( 15,000 ) Write offs/Recoveries — — 15,000 Balance at end of year $ — $ — $ —

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 10. – RELATED PARTY TRANSACTIONS Investment Management Agreement Effective with the Closing, RCM, a registered investment adviser, was retained by the Corporation as its external investment adviser and administrator. Under the Investment Management Agreement, the Corporation pays RCM, as compensation for the investment advisory and management services, fees consisting of two components: (i) the Base Management Fee and (ii) the Incentive Fee. The “Base Management Fee” is calculated at an annual rate of 1.50 % of the Corporation’s total assets (other than cash or cash equivalents but including assets purchased with borrowed funds). For the years ended December 31, 2023, 2022 and 2021, the Base Management Fees earned by RCM were $ 1,057,166 , $ 927,226 and $ 858,144 , respectively. As of December 31, 2023 and 2022, the Corporation had $ 287,297 and $ 230,221 , respectively, payable for the Base Management Fees, and it is included in the "Due to investment adviser" line on the Corporation's Consolidated Statements of Financial Position. The “Incentive Fee” is comprised of two parts: (1) the “Income Based Fee” and (2) the “Capital Gains Fee”. The Income Based Fee is calculated and payable quarterly in arrears based on the “Pre-Incentive Fee Net Investment Income” (as defined in the agreement) for the immediately preceding calendar quarter. The Corporation pays RCM an Incentive Fee with respect to its Pre-Incentive Fee Net Investment Income in each calendar quarter as follows: (i) no Income Based Fee in any quarter in which the Pre-Incentive Fee Net Investment Income for such quarter does not exceed the hurdle rate of 1.75 % ( 7.00 % annualized); (ii) 100 % of the Pre-Incentive Fee Net Investment Income for any calendar quarter with respect to that portion of the Pre-Incentive Fee Net Investment Income for such calendar quarter, if any, that exceeds the hurdle rate of 1.75 % ( 7.00 % annualized) but is less than 2.1875 % ( 8.75 % annualized); and (iii) 20 % of the amount of the Pre-Incentive Fee Net Investment Income for any calendar quarter with respect to that portion of the Pre-Incentive Fee Net Investment Income for such calendar quarter, if any, that exceeds 2.1875 % ( 8.75 % annualized). The Income Based Fee paid to RCM shall not be in excess of the Incentive Fee Cap. The “Incentive Fee Cap” for any quarter is an amount equal to (1) 20.0 % of the Cumulative Net Return (as defined below) during the relevant Income Based Fee Calculation Period (as defined below) minus (2) the aggregate Income Based Fee that was paid in respect of the calendar quarters included in the relevant Income Based Fee Calculation Period. For purposes of the calculation of the Income Based Fee, “Income Based Fee Calculation Period” is defined as, with reference to a calendar quarter, the period of time consisting of such calendar quarter and the additional quarters that comprise the eleven calendar quarters immediately preceding such calendar quarter. For purposes of the calculation of the Income Based Fee, “Cumulative Net Return” is defined as (1) the aggregate net investment income in respect of the relevant Income Based Fee Calculation Period minus (2) any Net Capital Loss, if any, in respect of the relevant Income Based Fee Calculation Period. If, in any quarter, the Incentive Fee Cap is zero or a negative value, the Corporation pays no Income Based Fee to RCM for such quarter. If, in any quarter, the Incentive Fee Cap for such quarter is a positive value but is less than the Income Based Fee that is payable to RCM for such quarter (before giving effect to the Incentive Fee Cap) calculated as described above, the Corporation pays an Income Based Fee to RCM equal to the Incentive Fee Cap for such quarter. If, in any quarter, the Incentive Fee Cap for such quarter is equal to or greater than the Income Based Fee that is payable to RCM for such quarter (before giving effect to the Incentive Fee Cap) calculated as described above, the Corporation pays an Income Based Fee to the Adviser equal to the Income Based Fee calculated as described above for such quarter without regard to the Incentive Fee Cap. For purposes of the calculation of the Income Based Fee, “Net Capital Loss,” in respect of a particular period, means the difference, if positive, between (1) aggregate capital losses, whether realized or unrealized, in such period and (2) aggregate capital gains, whether realized or unrealized, in such period. Any Income Based Fee otherwise payable under the Investment Management Agreement with respect to Accrued Unpaid Income (such fees being the “Accrued Unpaid Income Based Fees”) shall be deferred, on a security by security basis, and shall become payable to RCM only if, as, when and to the extent cash is received by us in respect of any Accrued Unpaid Income. Any Accrued Unpaid Income that is subsequently reversed by us in connection with a write-down, write-off, impairment or similar treatment of the investment giving rise to such Accrued Unpaid Income will, in the applicable period of reversal, (1) reduce Pre-Incentive Fee Net Investment Income and (2) reduce the amount of Accrued Unpaid Income Based Fees. Subsequent payments of Accrued Unpaid Income Based Fees deferred pursuant to this paragraph shall not reduce the amounts otherwise payable for any quarter as an Income Based Fee. For the years ended December 31, 2023, 2022, and 2021 , there were no Income Based Fees earned under the Investment Management Agreement. The second part of the Incentive Fee is the “Capital Gains Fee”. This fee is determined and payable in arrears as of the end of each calendar year. Under the terms of the Investment Management Agreement, the Capital Gains Fee is calculated at the end of each applicable year by subtracting (1) the sum of the cumulative aggregate realized capital losses and aggregate unrealized capital depreciation from (2) the cumulative aggregate realized capital gains, in each case calculated from November 8, 2019. If this amount is positive at the end of any calendar year, then the Capital Gains Fee for such year is equal to 20.0 % of such amount, less the cumulative aggregate amount of Capital Gains Fees paid in all prior years. If such amount is negative, then there is no Capital Gains Fee payable for that calendar year. If the Investment Management Agreement is terminated as of a date that is not a calendar year end, the termination date shall be treated as though it were a calendar year end for purposes of calculating and paying the Capital Gains Fee. For purposes of the Capital Gains Fee: • The cumulative aggregate realized capital gains are calculated as the sum of the differences, if positive, between (a) the net sales price of each investment in the Corporations portfolio when sold minus (b) the accreted or amortized cost basis of such investment. • The cumulative aggregate realized capital losses are calculated as the sum of the amounts by which (a) the net sales price of each investment in the portfolio when sold is less than (b) the accreted or amortized cost basis of such investment. • The aggregate unrealized capital depreciation is calculated as the sum of the amount, if negative, between (a) the valuation of each investment in the portfolio as of the applicable Capital Gains Fee calculation date minus (b) the accreted or amortized cost basis of such investment. For the years ended December 31, 2023, 2022 and 2021, the Corporation recorded Capital Gains Fees payable of $ 692,000 , $ 332,000 and $ 652,240 , respectively. The Capital Gains Fee expense is recorded in the “Capital gains incentive fees” line on the Consolidated Statements of Operations and the current amount payable is included in the “Due to investment adviser” line on the Consolidated Statements of Financial Position. For purposes of calculating the amount of the capital gains incentive fee accrual to be included as part of a company’s financial statements, GAAP requires a company to consider, as part of such calculation, the amount of cumulative aggregate unrealized capital appreciation that such company has with respect to its investments. As a result, the capital gains incentive fee accrual under GAAP is calculated using the both the cumulative aggregate realized capital gains and losses and the aggregate net change in unrealized capital appreciation/depreciation at the close of the period. If the calculated amount is positive, GAAP requires the Corporation to record a capital gains incentive fee accrual equal to 20 % of this cumulative amount, less the aggregate amount of actual capital gains incentive fees paid, or capital gains incentive fees accrued under GAAP, for all prior periods. However, unrealized capital appreciation is not used by the Corporation as part of the calculation to determine the amount of the Capital Gains Fee actually payable to RCM under the terms of the Investment Management Agreement.. There can be no assurance that such unrealized capital appreciation will be realized in the future. For the years ended December 31, 2023 and 2022, the Corporation recorded an accrual of capital gains incentive fees, in accordance with GAAP, of $ 2,279,700 and $ 2,167,000 , respectively. The accrued capital gains incentive fees are recorded in the line item “Capital gains incentive fees” on the Consolidated Statements of Financial Position. The expense related to the accrued capital gains incentive fee was $ 804,700 , ($ 1,048,760 ) and $ 4,200,000 for the years ended December 31, 2023, 2022 and 2021, respectively and is recorded on the “Capital gains incentive fees” line on the Consolidated Statements of Operations. Administration Agreement Under the terms of the Administration Agreement, RCM agreed to perform (or oversee, or arrange for, the performance of) the administrative services necessary for the Corporation’s operations, including, but not limited to, office facilities, equipment, clerical, bookkeeping, finance, accounting, compliance and record keeping services at such office facilities and such other services as RCM, subject to review by the Corporation’s Board of Directors, will from time to time determine to be necessary or useful to perform its obligations under the Administration Agreement. RCM shall also, arrange for the services of, and oversee, custodians, depositories, transfer agents, dividend disbursing agents, other shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable. RCM is responsible for the Corporation’s financial and other records that are required to be maintained and prepares all reports and other materials required to be filed with the SEC or any other regulatory authority, including reports to shareholders. In addition, RCM assists in determining and publishing the Corporation’s net asset value (NAV), overseeing the preparation and filing of tax returns, and the printing and dissemination of reports to shareholders, and generally overseeing the payment of expenses and the performance of administrative and professional services rendered by others. RCM provides, on the Corporation’s behalf, managerial assistance to those portfolio companies that have accepted its offer to provide such assistance. For the year ended December 31, 2023 , the Corporation recorded administrative fees of $ 149,000 related to costs incurred by RCM that are reimbursable under the Administration Agreement. There were no administrative fees incurred during the years ended December 31, 2022 or 2021.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Event	NOTE 11. – SUBSEQUENT EVENT Subsequent to year end, on February 26, 2024 , Rand’s Board of Directors declared a quarterly cash dividend of $ 0.25 per share. The cash dividend will be paid on or about March 29, 2024 to shareholders of record as of March 13, 2024 .

Schedule Of Consolidated Change

Schedule Of Consolidated Changes In Investments At Cost And Realized Gain	12 Months Ended
	Dec. 31, 2023
Schedule of Investments [Abstract]
Schedule Of Consolidated Changes In Investments At Cost And Realized Gain	RAND CAPITAL CORPORATION AND SUBSIDIARY SCHEDULE OF CONSOLIDATED C HANGES IN INVESTMENTS AT COST AND REALIZED GAIN For the Year Ended December 31, 2023 Cost Realized New investments: BMP Food Service Supply Holdco, LLC $ 4,535,000 $ — Inter-National Electronic Alloys LLC 4,300,000 — Highland All About People Holdings, Inc. 4,000,000 — FCM Industries Holdco LLC 3,800,000 — Pressure Pro, Inc. 3,000,000 — ITA Acquisition, LLC 390,000 — Tilson Technology Management, Inc. 250,000 — Caitec, Inc. 72,522 — Total of new investments 20,347,522 — Other changes to investments: Filterworks Acquisition USA, LLC interest conversion 247,841 — Caitec, Inc. interest conversion 228,606 — ITA Acquisition, LLC interest conversion 222,753 — Seybert’s Billiards Corporation OID amortization and interest conversion 125,569 — BMP Swanson Holdco, LLC interest conversion 100,115 — Pressure Pro, Inc. OID amortization and interest conversion 93,436 — Inter-National Electronic Alloys LLC interest conversion 49,839 — Highland All About People Holdings, Inc. interest conversion 49,187 — Mattison Avenue Holdings, LLC interest conversion 37,934 — DSD Operating, LLC interest conversion 31,652 — HDI Acquisition LLC interest conversion 22,523 — FCM Industries Holdco LLC interest conversion 18,156 — GoNoodle, Inc. interest conversion 14,170 — SciAps, Inc. OID amortization 5,000 — Total of other changes to investments 1,246,781 — Investments repaid, sold or liquidated: DSD Operating, LLC debt repayment and equity sale ( 4,238,934 ) 2,459,819 Rheonix, Inc. liquidated ( 2,802,731 ) ( 2,802,731 ) BMP Food Service Supply Holdco, LLC debt repayment and equity sale ( 850,047 ) — Somerset Gas Transmission Company, LLC equity sale ( 719,097 ) ( 448,717 ) HDI Acquisition LLC debt repayment ( 300,000 ) — ACV Auctions, Inc. stock sold ( 34,125 ) 1,718,767 Microcision LLC additional proceeds — 115,010 ClearView Social Inc. escrow receipt — 10,432 Mercantile Adjustment Bureau, LLC escrow receipt — 3,440 SocialFlow, Inc. escrow loss — ( 4,941 ) Total of investments repaid, sold, liquidated or converted ( 8,944,934 ) 1,051,079 Net change in investments, at cost and total realized gain $ 12,649,369 $ 1,051,079

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The accompanying consolidated financial statements have been prepared in accordance with GAAP and pursuant to Regulation S-X and Regulation S-K. The Corporation is an investment company following accounting and reporting guidance in Accounting Standards Codification (“ASC”) 946, Financial Services— Investment Companies.
Nature of Business	Nature of Business - Rand Capital Corporation (“Rand” or the “Corporation”) was incorporated under the laws of New York in 1969. Beginning in 1971, Rand operated as a publicly traded, closed-end, management company that was registered under Section 8 of the Investment Company Act of 1940 (the “1940 Act”). In 2001, Rand elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). As a BDC, Rand is required to comply with certain regulatory requirements specified in the 1940 Act. For instance, it generally has to invest at least 70 % of total assets in “qualifying assets” and provide managerial assistance to the portfolio companies in which it invests. In 2002, Rand formed a wholly owned subsidiary Rand Capital SBIC, Inc. (“Rand SBIC”) for the purpose of operating it as a small business investment company (“SBIC”) licensed by the U.S. Small Business Administration (“SBA”) and received an SBA license to operate as an SBIC in 2002. In 2012, the SEC granted an Order of Exemption for Rand with respect to the operations of Rand SBIC. At that time, although Rand SBIC was operated as if it were a BDC, it was registered as an investment company under the 1940 Act. Upon Rand’s receipt of the order granting the exemptions, Rand SBIC filed an election to be regulated as a BDC under the 1940 Act. In November 2021, Rand SBIC repaid its $ 11,000,000 in outstanding debentures to the SBA and received approval from the SBA to surrender its SBA license. This subsidiary was renamed Rand Capital Sub, Inc., and merged with and into Rand Capital Sub LLC (“Rand Sub”). All of Rand’s investments going forward are expected to be made out of Rand Capital Corporation. In November 2019, Rand completed a stock sale transaction (the “Closing”) with East Asset Management (“East”). The transaction consisted of a $ 25 million investment in Rand by East, in exchange for approximately 8.3 million shares of Rand common stock. The consideration paid by East for the shares of Rand common stock was comprised of approximately $ 15.5 million of cash and a contribution of $ 9.5 million of portfolio assets (the “Contributed Assets”). Concurrent with the Closing, Rand’s management and staff became employees of Rand Capital Management, LLC (“RCM”), a registered investment adviser that has been retained by Rand as its external investment adviser. In connection with retaining RCM as investment adviser, on November 8, 2019, Rand entered into an investment advisory and management agreement (the “Prior Investment Management Agreement”) and an administration agreement (the “Prior Administration Agreement”) with RCM pursuant to which RCM serves as Rand’s investment adviser and administrator (the Closing and the retention of RCM as investment adviser and administrator are collectively referred to herein as the “Transaction”). In connection with a change of control of RCM, Rand’s shareholders were asked to approve a new investment advisory and management agreement (the “Investment Management Agreement”) with RCM at a special meeting of shareholders held on December 16, 2020 (the “Special Meeting”). The terms of the Investment Management Agreement are identical to those contained in the Prior Investment Management Agreement, with RCM continuing to provide investment advisory and management services to Rand. Following approval by Rand’s shareholders at the Special Meeting, Rand, on December 31, 2020, entered into the Investment Management Agreement and a new administration agreement (the “Administration Agreement”) with RCM and terminated the Prior Administration Agreement. Pursuant to the terms of the Investment Management Agreement, Rand pays RCM a base management fee and may pay an incentive fee, if specified benchmarks are met. Rand is an externally managed, closed-end, non-diversified management investment company. In connection with the completion of the Transaction, Rand shifted to an investment strategy focused on higher yielding debt investments and elected U.S. Federal tax treatment as a regulated investment company (“RIC”) as of January 1, 2020 on its U.S. Federal tax return for the 2020 tax year. As required for the RIC election, Rand paid a special dividend to shareholders to distribute all of its accumulated earnings and profits since inception to 2019. Rand’s Board of Directors declared a special dividend of $ 23.7 million, or approximately $ 1.62 per share, on March 3, 2020 . The cash and shares of Rand’s common stock comprising the special dividend were distributed on May 11, 2020 to shareholders. In addition, Rand’s Board of Directors declared a 2020 cash dividend of $ 1.33 per share on December 21, 2020 . This cash dividend was paid on January 19, 2021 to shareholders of record as of December 31, 2020 . The cash dividend represented over 90 % of Rand’s estimated investment company taxable income for 2020. The Board of Directors declared the following cash dividends during the year ended December 31, 2022: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.15 March 14, 2022 March 28, 2022 Regular Quarterly 2nd $ 0.15 June 1, 2022 June 15, 2022 Regular Quarterly 3rd $ 0.15 September 1, 2022 September 15, 2022 Regular Quarterly 4th $ 0.20 December 19, 2022 December 30, 2022 Regular Quarterly 4th $ 0.18 December 19, 2022 December 30, 2022 Special The Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special In order to continue to qualify as a RIC, Rand holds several of its equity investments in holding companies that facilitate a tax structure that is advantageous to the RIC election. Rand has the following wholly-owned blocker companies in place at December 31, 2023: Rand BMP Swanson Holdings Corp., Rand Carolina Skiff Holdings Corp., Rand DSD Holdings Corp., Rand Filterworks Holdings Corp., Rand FSS Holdings Corp., Rand INEA Holdings Corp., Rand ITA Holdings Corp., and Rand Somerset Holdings Corp. (the “Blocker Corps”). These subsidiaries are consolidated using United States generally accepted accounting principles (“GAAP”) for financial reporting purposes. The following discussion describes the operations of Rand and its wholly owned subsidiaries Rand Sub, Rand BMP Swanson Holdings Corp., Rand Carolina Skiff Holdings Corp., Rand DSD Holdings Corp., Rand Filterworks Holdings Corp., Rand FSS Holdings Corp., Rand INEA Holdings Corp., Rand ITA Holdings Corp., and Rand Somerset Holdings Corp. (collectively, the “Corporation”). Rand effected a 1-for-9 reverse stock split of its common stock effective May 21, 2020. The reverse stock split affected all issued and outstanding shares of Rand's common stock, including shares held in treasury. The reverse stock split reduced the number of issued and outstanding shares of Rand’s common stock from 23,845,470 shares and 23,304,424 shares, respectively, to 2,648,916 shares and 2,588,800 shares, respectively. The reverse stock split affected all shareholders uniformly and did not alter any shareholder's percentage interest in Rand’s outstanding common stock, except for adjustments for fractional shares. On October 7, 2020, Rand, RCM and certain of their affiliates received an exemptive order from the Securities and Exchange Commission (“SEC”) to permit Rand to co-invest in portfolio companies with certain affiliates, including other BDCs and registered investment companies, managed by RCM and certain of its affiliates in a manner consistent with Rand’s investment objective, policies, strategies and restrictions as well as regulatory requirements, subject to compliance with certain conditions (the “Order”). On March 29, 2021, the SEC granted Rand, Callodine Group, LLC (“Callodine”), which holds a controlling interest in RCM, and certain of their affiliates a new exemptive order (the “New Order”) that superseded the Order and permits Rand to co-invest with affiliates managed by RCM and Callodine. Callodine is a yield focused asset management platform. Pursuant to the New Order, Rand is generally permitted to co-invest with affiliates covered by the New Order if a “required majority” (as defined in Section 57(o) of the 1940 Act) of Rand’s independent directors make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the transaction, including the consideration to be paid, are reasonable and fair to Rand and its shareholders and do not involve overreaching in respect of Rand or its shareholders on the part of any person concerned, (2) the transaction is consistent with the interests of Rand’s shareholders and is consistent with Rand’s investment objective and strategies and, (3) the investment by Rand’s affiliates would not disadvantage Rand, and Rand’s participation would not be on a basis different from or less advantageous than that on which Rand’s affiliates are investing. In addition, on September 6, 2022, the SEC granted an amendment to the New Order to permit Rand to participate in follow-on investments in its existing portfolio companies with certain Affiliated Funds (as defined in the New Order) that do not hold any investments in such existing portfolio companies.
Principles of Consolidation	Principles of Consolidation - The consolidated financial statements include the accounts of Rand and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Fair Value of Financial Instruments	Fair Value of Financial Instruments – The carrying amounts reported in the consolidated statement of financial position of cash, interest receivable, accounts payable and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments.
Investment Classification	Investment Classification – In accordance with the provisions of the 1940 Act, the Corporation classifies its investments by level of control. Under the 1940 Act “Control Investments” are investments in companies that the Corporation is deemed to “Control” if it owns more than 25 % of the voting securities of the company or has greater than 50 % representation on the company’s board. “Affiliate Investments” are companies in which the Corporation owns between 5 % and 25 % of the voting securities. “Non-Control/Non-Affiliate Investments” are those companies that are neither Control Investments nor Affiliate Investments.
Investments	Investments - Investments are valued at fair value as determined in good faith by RCM and approved by Rand’s Board of Directors. The Corporation generally invests in loan, debt, and equity instruments and there is no single method for determining fair value of these investments. As a result, determining fair value requires that judgment be applied to the specific facts and circumstances of each portfolio company while employing a consistent valuation process. Due to the inherent uncertainty of determining the fair value of portfolio investments, there may be material risks associated with this determination including that estimated fair values may differ from the values that would have been used had a readily available market value for the investments existed and these differences could be material if the Corporation's assumptions and judgments differ from results of actual liquidation events. The Corporation analyzes and values each investment quarterly and records unrealized depreciation for an investment that it believes has become impaired, including where collection of a loan or debt security or realization of the recorded value of an equity security is doubtful. Conversely, the Corporation will record unrealized appreciation if it believes that an underlying portfolio company has appreciated in value and, therefore, the Corporation's equity securities have also appreciated in value. Additionally, the Corporation continues to assess any material risks associated with this fair value determination, including risks associated with material conflicts of interest. Under the valuation policy of the Corporation, unrestricted publicly traded securities are valued at the closing price for these securities on the last trading day of the reporting period. (See Note 2 “Investments.”)
Qualifying Assets	Qualifying Assets - The Corporation’s portfolio of investments includes both qualifying and non-qualifying assets. A majority of the Corporation’s investments represent qualifying investments in privately held businesses, principally based in the United States, and represent qualifying assets as defined by Section 55(a) of the 1940 Act. The non-qualifying assets generally include investments in other publicly traded BDC investment companies and other publicly traded securities.
Revenue Recognition - Interest Income	Revenue Recognition - Interest Income - Interest income is recognized on the accrual basis except where the investment is in default or otherwise presumed to be in doubt. In such cases, interest is recognized at the time of receipt. A reserve for possible losses on interest receivable is maintained when appropriate. Interest income is not recognized if collection is doubtful, and a 100 % reserve is established. The collection of interest is presumed to be in doubt when there is substantial doubt about a portfolio company’s ability to continue as a going concern or a loan is in default for more than 120 days. RCM also uses other qualitative and quantitative measures to determine the value of a portfolio investment and the collectability of any accrued interest. The Corporation holds debt securities in its investment portfolio that contain payment-in-kind (“PIK”) interest provisions. PIK interest, computed at the contractual rate specified in each debt agreement, is added to the principal balance of the debt and is recorded as interest income. Thus, the actual collection of this interest may be deferred until the time of debt principal repayment.
Revenue Recognition - Dividend Income	Revenue Recognition - Dividend Income – The Corporation may receive cash distributions from portfolio companies that are limited liability companies or corporations, and these distributions are classified as dividend income on the consolidated statement of operations. Dividend income is recognized on an accrual basis when it can be reasonably estimated for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. The Corporation may hold preferred equity securities that contain cumulative dividend provisions. Cumulative dividends are recorded as dividend income, if declared and deemed collectible, and any dividends in arrears are recognized into income and added to the balance of the preferred equity investment. The actual collection of these dividends in arrears may be deferred until such time as the preferred equity is redeemed.
Revenue Recognition - Fee Income	Revenue Recognition - Fee Income – Consists of the revenue associated with the amortization of financing fees charged to the portfolio companies upon successful closing of financings, income associated with portfolio company board attendance fees, income associated with portfolio company monitoring fees and income associated with portfolio company loan modification fees. The income associated with the amortization of financing fees was $ 205,480 , $ 120,914 and $ 87,018 , for the years ended December 31, 2023, 2022 and 2021, respectively, and is estimated to be approximately $ 169,000 in 2024, $ 164,000 in 2025 and $ 114,000 in 2026 . No board fees were earned during the year ended December 31, 2023. The board fees earned were $ 25,000 and $ 14,096 for the years ended December 31, 2022 and 2021, respectively. During the year ended December 31, 2023, the Corporation recorded $ 115,264 in non-recurring fees related to early repayment fees, loan modification fees, and loan monitoring fees. D uring the year ended December 31, 2022 , the Corporation recorded $ 10,000 in non-recurring loan monitoring fees. During the year ended December 31, 2021 , the Corporation recorded $ 55,500 in non-recurring fees related to prepayment fees, application fees and loan monitoring fees.
Realized Gain or Loss and Unrealized Appreciation or Depreciation of Investments	Realized Gain or Loss and Unrealized Appreciation or Depreciation of Investments - Amounts reported as realized gains and losses are measured by the difference between the proceeds from the sale or exchange and the cost basis of the investment without regard to unrealized gains or losses recorded in prior periods. The cost of securities that have, in management’s judgment, become worthless are written off and reported as realized losses when appropriate. Unrealized appreciation or depreciation reflects the difference between the valuation of the investments and the cost basis of the investments.
Original Issue Discount	Original Issue Discount – Investments may include “original issue discount”, or OID, income. This occurs when the Corporation purchases a warrant and a note from a portfolio company simultaneously, which requires an allocation of a portion of the purchase price to the warrant and reduces the purchase price allocated to the note by an equal amount in the form of a note discount or OID. The note is reported net of the OID and the OID is accreted into interest income over the life of the loan. The Corporation recognized $ 21,008 , $ 25,008 and $ 112,175 in OID income for the years ended December 31, 2023, 2022 and 2021 , respectively. OID income is estimated to be approximately $ 16,000 for 2024 .
Deferred Financing Fees	Deferred Financing Fees - Origination and commitment costs related to the senior secured revolving credit facility with M&T Bank, (See Note 5 “Senior Secured Revolving Credit Facility”), are amortized ratably over the term of the Credit Agreement. Amortization expense was approximately $ 25,000 and $ 12,500 for the years ended December 31, 2023 and 2022 , respectively. Amortization expense is estimated to be $ 25,000 in 2024 , $ 25,000 in 2025 , and $ 25,000 in 2026 .
Deferred Debenture Costs	Deferred Debenture Costs - SBA debenture origination and commitment costs, which are netted against the debenture, are amortized ratably over the term of the SBA debentures. In November 2021, Rand SBIC repaid its $ 11,000,000 in outstanding debentures to the SBA and expensed all remaining SBA debenture origination and commitment costs. In addition, in November 2021, Rand SBIC received approval from the SBA to surrender its SBA license. There was no amortization expense for the years ended December 31, 2023 or 2022. Amortization expense was approximately $ 175,400 for the year ended December 31, 2021.
Net Assets per Share	Net Assets Per Share - Net assets per share are based on the number of shares of common stock outstanding. There are no common stock equivalents outstanding.
Supplemental Cash Flow Information	Supplemental Cash Flow Information - Income taxes paid (refunded) during the years ended December 31, 2023, 2022 and 2021 amounted to $ 645,248 , ($ 5,284 ) and ($ 131,934 ), respectively. Interest paid during the years ended December 31, 2023, 2022 and 2021 was $ 934,638 , $ 48,274 and $ 567,070 , respectively. During 2023, 2022 and 2021 , the Corporation converted $ 1,225,773 , $ 739,356 , and $ 346,045 , respectively, of interest receivable and payment-in-kind (PIK) interest into debt investments.
Concentration of Credit and Market Risk	Concentration of Credit and Market Risk – The Corporation’s financial instruments potentially subject it to concentrations of credit risk. Cash is invested with banks in amounts which, at times, exceed insured limits. The Corporation does not anticipate non-performance by the banks. The following are the concentrations of the top five portfolio company values to the fair value of the Corporation’s total investment portfolio: December 31, 2023 Tilson Technology Management, Inc. (Tilson) 14 % BMP Food Service Supply Holdco, LLC (FSS) 10 % Seybert’s Billiards Corporation (Seybert’s) 8 % SciAps, Inc. (Sciaps) 7 % Inter-National Electronic Alloys LLC (INEA) 6 % December 31, 2022 Tilson Technology Management, Inc. (Tilson) 17 % Seybert’s Billiards Corporation (Seybert’s) 10 % SciAps, Inc. (Sciaps) 8 % DSD Operating, LLC (DSD) 8 % Caitec, Inc. (Caitec) 6 %
Income Taxes	Income Taxes - The Corporation reviews the tax positions it has taken to determine if they meet the "more likely than not threshold" for the benefit of the tax position to be recognized in the financial statements. A tax position that fails to meet the more likely than not recognition threshold will result in either a reduction of a current or deferred tax asset or receivable, or the recording of a current or deferred tax liability. (See Note 4 “Income Taxes.”)
Accounting Estimates	Accounting Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements - In March 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326)”, which is intended to address issues identified during the post-implementation review of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendment, among other things, eliminates the accounting guidance for troubled debt restructurings by creditors in Subtopic 310-40, “Receivables - Troubled Debt Restructurings by Creditors”, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The new guidance is effective for interim and annual periods beginning after December 15, 2022. The Corporation evaluated the impact of the adoption of ASU 2022-02 on its consolidated financial statements and disclosures and determined that this guidance does not have a material impact on its consolidated financial statements. In December 2023, FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for our annual periods beginning January 1, 2025, with early adoption permitted. The Corporation is currently evaluating the potential effect that updated standard will have on its financial statement disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Cash Dividends Declared	The Board of Directors declared the following cash dividends during the year ended December 31, 2022: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.15 March 14, 2022 March 28, 2022 Regular Quarterly 2nd $ 0.15 June 1, 2022 June 15, 2022 Regular Quarterly 3rd $ 0.15 September 1, 2022 September 15, 2022 Regular Quarterly 4th $ 0.20 December 19, 2022 December 30, 2022 Regular Quarterly 4th $ 0.18 December 19, 2022 December 30, 2022 Special The Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special The Corporation’s Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special
Concentrations of Portfolio Company Values Compared to the Fair Value of the Corporation's Total Investment Portfolio	The following are the concentrations of the top five portfolio company values to the fair value of the Corporation’s total investment portfolio: December 31, 2023 Tilson Technology Management, Inc. (Tilson) 14 % BMP Food Service Supply Holdco, LLC (FSS) 10 % Seybert’s Billiards Corporation (Seybert’s) 8 % SciAps, Inc. (Sciaps) 7 % Inter-National Electronic Alloys LLC (INEA) 6 % December 31, 2022 Tilson Technology Management, Inc. (Tilson) 17 % Seybert’s Billiards Corporation (Seybert’s) 10 % SciAps, Inc. (Sciaps) 8 % DSD Operating, LLC (DSD) 8 % Caitec, Inc. (Caitec) 6 %

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Summary of the Significant Unobservable Inputs to Determine the Fair Value of Level 3 Portfolio Investments	The following table provides a summary of the significant unobservable inputs used to determine the fair value of the Corporation’s Level 3 portfolio investments as of December 31, 2023: Investment Type Market Approach Market Approach Market Approach Market Approach Transaction Pricing Totals Non-Control/Non-Affiliate Equity $ 72,522 $ — $ 700,000 $ 100,063 $ 872,585 Non-Control/Non-Affiliate Loan and Debt 6,829,263 4,465,882 — — 11,295,145 Total Non-Control/Non-Affiliate $ 6,901,785 $ 4,465,882 $ 700,000 $ 100,063 $ 12,167,730 Affiliate Equity $ 5,889,991 $ — $ 3,223,984 $ 10,550,000 $ 19,663,975 Affiliate Loan and Debt 26,177,241 — 2,090,000 5,568,156 33,835,397 Total Affiliate $ 32,067,232 $ — $ 5,313,984 $ 16,118,156 $ 53,499,372 Control Equity $ — $ — $ — $ — $ — Control Debt — 4,148,960 — — 4,148,960 Total Control $ — $ 4,148,960 $ — $ — $ 4,148,960 Total Level 3 Investments $ 38,969,017 $ 8,614,842 $ 6,013,984 $ 16,218,219 $ 69,816,062 Range 4-7X 1X 1X-3X Not Applicable Unobservable Input EBITDA Multiple Asset Value Revenue Multiple Transaction Price Weighted Average 5.4 X 1X 1.7X Not Applicable The following table provides a summary of the significant unobservable inputs used to determine the fair value of the Corporation’s Level 3 portfolio investments as of December 31, 2022: Investment Type Market Approach Market Approach Market Approach Market Approach Transaction Pricing Totals Non-Control/Non-Affiliate Equity $ 300,000 $ 125,000 $ 1,401,940 $ 200,063 $ 2,027,003 Non-Control/Non-Affiliate Loan and Debt 6,840,200 2,201,712 — 2,250,000 11,291,912 Total Non-Control/Non-Affiliate $ 7,140,200 $ 2,326,712 $ 1,401,940 $ 2,450,063 $ 13,318,915 Affiliate Equity $ 4,784,757 $ — $ 3,223,984 $ 10,900,000 $ 18,908,741 Affiliate Loan and Debt 12,997,848 — 2,085,000 4,250,000 19,332,848 Total Affiliate $ 17,782,605 $ — $ 5,308,984 $ 15,150,000 $ 38,241,589 Control Equity $ — $ — $ — $ — $ — Control Debt — 3,536,207 — — 3,536,207 Total Control $ — $ 3,536,207 $ — $ — $ 3,536,207 Total Level 3 Investments $ 24,922,805 $ 5,862,919 $ 6,710,924 $ 17,600,063 $ 55,096,711 Range 5-6.5X 1X 1X-4X Not Applicable Unobservable Input EBITDA Multiple Asset Value Revenue Multiple Transaction Price Weighted Average 5.5 X 1X 2.0X Not Applicable
summary of the components of Assets Measured at Fair Value	The following table provides a summary of the components of Level 1, 2 and 3 Assets Measured at Fair Value at December 31, 2023: Fair Value Measurements at Reported Date Using Description December 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Other Significant Loan investments $ 12,417,977 $ — $ — $ 12,417,977 Debt investments 36,861,525 — — 36,861,525 Equity investments 27,846,210 7,309,650 — 20,536,560 Total $ 77,125,712 $ 7,309,650 $ — $ 69,816,062 The following table provides a summary of the components of Level 1, 2 and 3 Assets Measured at Fair Value at December 31, 2022: Fair Value Measurements at Reported Date Using Description December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Significant Loan investments $ 14,578,351 $ — $ — $ 14,578,351 Debt investments 19,582,616 — — 19,582,616 Equity investments 27,343,292 6,407,548 — 20,935,744 Total $ 61,504,259 $ 6,407,548 $ — $ 55,096,711
Summary of changes in Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3)	The following table provides a summary of changes in Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) for the year ended December 31, 2023: Fair Value Measurements Using Significant Description Loan Investments Debt Equity Total Ending Balance December 31, 2022, of Level 3 Assets $ 14,578,351 $ 19,582,616 $ 20,935,744 $ 55,096,711 Realized gains (losses) included in net change in net assets from operations: ClearView Social, Inc. (Clearview Social) — — 10,432 10,432 DSD Operating, LLC (DSD) — — 2,459,819 2,459,819 Mercantile Adjustment Bureau, LLC (Mercantile) — — 3,440 3,440 Microcision, LLC (Microcision) — — 115,010 115,010 Rheonix, Inc. (Rheonix) — — ( 2,802,731 ) ( 2,802,731 ) SocialFlow, Inc. (Social Flow) — — ( 4,941 ) ( 4,941 ) Somerset Gas Transmission Company, LLC (Somerset) — — ( 448,717 ) ( 448,717 ) Total realized gains (losses) — — ( 667,688 ) ( 667,688 ) Unrealized gains (losses) included in net change in net assets from operations: BMP Food Service Supply Holdco, LLC (FSS) — — 610,000 610,000 BMP Swanson Holdco, LLC (Swanson) — — 266,667 266,667 Caitec, Inc. (Caitec) — — ( 300,000 ) ( 300,000 ) Carolina Skiff LLC (Carolina Skiff) — — ( 249,000 ) ( 249,000 ) DSD — — ( 886,698 ) ( 886,698 ) Open Exchange, Inc. (Open Exchange) — — ( 701,940 ) ( 701,940 ) Post Process Technologies, Inc. (Post Process) — — ( 100,000 ) ( 100,000 ) Rheonix — — 2,802,731 2,802,731 Somerset — — 594,097 594,097 Total unrealized gains (losses) — — 2,035,857 2,035,857 Purchases of securities/changes to securities/non-cash conversions: Caitec 228,606 — 72,522 301,128 DSD 31,652 — — 31,652 FCM Industries Holdco LLC (First Coast Mulch) — 3,818,156 — 3,818,156 Filterworks Acquisition USA, LLC (Filterworks) — 247,841 — 247,841 FSS — 4,535,000 — 4,535,000 GoNoodle, Inc. (GoNoodle) — 14,170 — 14,170 HDI Acquisition LLC (Hilton Displays) — 22,523 — 22,523 Highland All About People Holdings, Inc. (All About People) — 3,049,187 1,000,000 4,049,187 Inter-National Electronic Alloys LLC (INEA) — 3,338,074 1,011,765 4,349,839 ITA Acquisition, LLC (ITA) 612,753 — — 612,753 Mattison Avenue Holdings LLC (Mattison) 37,934 — — 37,934 Pressure Pro, Inc. (Pressure Pro) — 3,063,436 30,000 3,093,436 SciAps, Inc. (Sciaps) — 5,000 — 5,000 Seybert’s Billiards Corporation (Seybert’s) — 125,569 — 125,569 Social Flow — — 4,941 4,941 Swanson 100,115 — — 100,115 Tilson Technology Management, Inc. (Tilson) — — 250,000 250,000 Total purchases of securities/changes to securities/non-cash conversions 1,011,060 18,218,956 2,369,228 21,599,244 Repayments and sale of securities: Clearview Social — — ( 10,432 ) ( 10,432 ) DSD ( 3,171,434 ) — ( 3,527,319 ) ( 6,698,753 ) FSS — ( 640,047 ) ( 210,000 ) ( 850,047 ) Hilton Displays — ( 300,000 ) — ( 300,000 ) Mercantile — — ( 3,440 ) ( 3,440 ) Microcision — — ( 115,010 ) ( 115,010 ) Somerset — — ( 270,380 ) ( 270,380 ) Total repayments and sale of securities ( 3,171,434 ) ( 940,047 ) ( 4,136,581 ) ( 8,248,062 ) Transfers within Level 3 — — — — Transfers out of Level 3 — — — — Ending Balance December 31, 2023, of Level 3 Assets $ 12,417,977 $ 36,861,525 $ 20,536,560 $ 69,816,062 Change in unrealized appreciation/depreciation included in earnings related to Level 3 investments still held at reporting date $ ( 474,273 ) The following table provides a summary of changes in Assets Measured at Fair Value Using Significant Unobservable Inputs (Level 3) for the year ended December 31, 2022: Fair Value Measurements Using Significant Description Loan Investments Debt Equity Total Ending Balance December 31, 2021, of Level 3 Assets $ 15,503,404 $ 14,030,078 $ 20,633,935 $ 50,167,417 Realized gains (losses) included in net change in net assets from operations: ClearView Social, Inc. (Clearview Social) — — 53,783 53,783 GiveGab, Inc. (Givegab) — — 1,919 1,919 Microcision, LLC (Microcision) — — 190,000 190,000 New Monarch Machine Tool, Inc. (New Monarch) — — ( 22,841 ) ( 22,841 ) SocialFlow, Inc. (Social Flow) — — ( 1,481,498 ) ( 1,481,498 ) Total realized gains (losses) — — ( 1,258,637 ) ( 1,258,637 ) Unrealized gains (losses) included in net change in net assets from operations: Carolina Skiff LLC (Carolina Skiff) — — 657,000 657,000 DSD Operating, LLC (DSD) — — 886,698 886,698 ITA Acquisition, LLC (ITA) — — ( 748,810 ) ( 748,810 ) Knoa Software, Inc. (Knoa) — — ( 379,155 ) ( 379,155 ) Microcision — — 25,000 25,000 New Monarch — — 22,841 22,841 OnCore Golf Technology, Inc. (OnCore) — — ( 200,000 ) ( 200,000 ) Open Exchange, Inc. (Open Exchange) — — ( 4,168,060 ) ( 4,168,060 ) Post Process Technologies, Inc. (Post Process) — — ( 248,875 ) ( 248,875 ) SciAps, Inc. (Sciaps) — — 2,152,984 2,152,984 Social Flow — — 1,628,000 1,628,000 Somerset Gas Transmission Company, LLC (Somerset) — — ( 375,000 ) ( 375,000 ) Tilson Technology Management, Inc. (Tilson) — — 1,374,985 1,374,985 Total unrealized gains (losses) — — 627,608 627,608 Purchases of securities/changes to securities/non-cash conversions: BMP Food Service Supply Holdco, LLC (FSS) — 2,500,000 600,000 3,100,000 Caitec, Inc. (Caitec) 73,326 — — 73,326 DSD 380,599 — — 380,599 Filterworks Acquisition USA, LLC (Filterworks) — 186,488 139,232 325,720 GoNoodle, Inc. (GoNoodle) — 14,142 — 14,142 HDI Acquisition LLC (Hilton Displays) — 26,587 — 26,587 ITA 99,595 — 623,810 723,405 Mattison Avenue Holdings LLC (Mattison) 37,175 — — 37,175 Sciaps — 605,000 — 605,000 Seybert’s Billiards Corporation (Seybert’s) — 2,310,496 194,000 2,504,496 Total purchases of securities/changes to securities/non-cash conversions 590,695 5,642,713 1,557,042 7,790,450 Repayments and sale of securities: Clearview Social — — ( 53,783 ) ( 53,783 ) Empire Genomics, Corp. (Empire) ( 1,444,915 ) — — ( 1,444,915 ) Givegab — — ( 1,919 ) ( 1,919 ) GoNoodle — ( 90,175 ) — ( 90,175 ) Microcision — — ( 300,000 ) ( 300,000 ) Social Flow — — ( 268,502 ) ( 268,502 ) Lumious (Tech 2000, Inc.) ( 70,833 ) — — ( 70,833 ) Total repayments and sale of securities ( 1,515,748 ) ( 90,175 ) ( 624,204 ) ( 2,230,127 ) Transfers within Level 3 — — — — Transfers out of Level 3 — — — — Ending Balance December 31, 2022, of Level 3 Assets $ 14,578,351 $ 19,582,616 $ 20,935,744 $ 55,096,711 Change in unrealized appreciation/depreciation included in earnings related to Level 3 investments still held at reporting date $ ( 1,048,233 )

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets [Abstract]
Schedule of Other Assets	Other assets was comprised of the following at December 31: 2023 2022 Dividend receivables $ 85,090 $ 102,655 Deferred financing fees, net 87,500 112,500 Prepaid expenses 16,711 10,905 Escrow receivables — 68,983 Total other assets $ 189,301 $ 295,043

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Differences Reclassified for Tax Purposes	The following differences were reclassified for tax purposes for the years ended December 31, 2023 and December 31, 2022 1 : 2023 2022 Increase (decrease) in capital in excess of par value $ 4,336,903 $ ( 215,542 ) (Decrease) increase in total distributable earnings ( 4,336,903 ) 215,542
Schedule of Reconciliation of Net Increase in Net Assets Resulting From Operations to Taxable Income	The following table reconciles net increase in net assets resulting from operations to taxable income for the years ended December 31, 2023 and December 31, 2022: 2023 2022 Net increase (decrease) in net assets resulting from operations $ 6,526,650 $ ( 881,849 ) Net change in unrealized appreciation/depreciation on investments ( 2,867,520 ) 6,017,752 Net change in deferred tax asset/liability ( 77,734 ) 44,862 GAAP versus tax basis consolidation of subsidiaries ( 1,332,687 ) ( 863,702 ) Other permanent book income and tax income differences 1,348,624 170,680 Temporary book income and tax income differences ( 82,198 ) ( 803,001 ) Taxable income 2 $ 3,515,135 $ 3,684,742
Schedule of Tax Character of Distributions Paid and Deemed Paid	The tax character of distributions paid and deemed paid during the years ended December 31, 2023 and December 31, 2022 was as follows: 2023 2022 Ordinary income $ 3,432,757 $ 2,142,247 Long-term capital gains — — Return of Capital — — Total $ 3,432,757 $ 2,142,247
Schedule of Components of Distributable Earnings/(Accumulated Losses) and Reconciliation to Accumulated Earnings/(Deficit)	The tax basis components of distributable earnings (accumulated losses) and reconciliation to accumulated earnings (deficit) on a book basis for the years ended December 31, 2023 and December 31, 2022 were as follows: 2023 2022 Undistributed ordinary income – tax basis $ 332,806 $ 250,428 Capital loss carry forwards ( 1,546,597 ) — Unrealized appreciation on investments 9,906,212 5,993,782 GAAP vs tax basis consolidation of subsidiaries — 863,702 Other temporary differences ( 2,376,665 ) 1,389,575 Total accumulated earnings – book basis $ 6,315,756 $ 8,497,487
Schedule of Net Deferred Tax Asset	The tax effect of the major temporary differences and carryforwards that give rise to the Corporation’s net deferred tax asset at December 31, 2023 and 2022 are approximately as follows: 2023 2022 Investments $ ( 644,497 ) $ ( 234,730 ) NOL & tax credit carryforwards 683,676 262,890 Deferred tax asset, net $ 39,179 $ 28,160
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) reported in the consolidated statements of operations are as follows for the years ended December 31: 2023 2022 2021 Current: Federal $ 609,056 $ 173,235 $ 85,829 State 58,320 ( 2,555 ) 14,835 667,376 170,680 100,664 Deferred: Federal ( 13,797 ) 92,304 ( 279,167 ) State 2,778 60,538 ( 22,977 ) ( 11,019 ) 152,842 ( 302,144 ) Total $ 656,357 $ 323,522 $ ( 201,480 )
Schedule of Reconciliation of the Expense (Benefit) From Income Taxes at the Federal Statutory Rate	A reconciliation of the expense (benefit) from income taxes at the federal statutory rate to the expense reported is as follows: 2023 2022 2021 Net investment income (loss), realized gain (loss) and unrealized gain (loss) before income taxes $ 7,183,007 $ ( 558,327 ) $ 15,595,948 Expected tax expense (benefit) at statutory rate 1,508,431 ( 117,249 ) 3,275,149 State - net of federal effect 48,267 45,807 ( 8,142 ) Pass-through expense (benefit) from portfolio investment 487 721 ( 46,210 ) Valuation allowance 131,338 — — Tax benefit of RIC status ( 1,067,238 ) 400,329 ( 3,426,735 ) RIC excise tax expense 52,800 — — Other ( 17,728 ) ( 6,086 ) 4,458 Total $ 656,357 $ 323,522 $ ( 201,480 )

Senior Secured Revolving Cred_2

Senior Secured Revolving Credit Facility (Tables)	12 Months Ended
	Dec. 31, 2023
Line of Credit Facility [Abstract]
Schedule of Average Debt Outstanding Under the Credit Facility and Weighted Average Interest Rate	For the years ended December 31, 2023 and 2022, the average debt outstanding under the Credit Facility and weighted average interest rate were as follows: 2023 2022 Average debt outstanding $ 11,180,959 $ 253,562 Weighted average interest rate 8.72 % 7.90 %
Schedule of Information about Corporation's Senior Securities	Information about the Corporation’s senior securities (including debt securities and other indebtedness) is shown in the following table. Year Total Amount Asset Coverage Involuntary Liquidation Average Market December 31, 2022 Credit Facility $ 2,550,000 $ 23,636 N/A N/A December 31, 2023 Credit Facility 16,250,000 4,737 N/A N/A (1) Total amount of each class of senior securities outstanding at the end of the period presented (2) Asset coverage per unit is the ratio of the carrying value of the Corporation’s total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $ 1,000 of indebtedness. (3) The amount to which such class of senior security would be entitled upon the voluntary liquidation of the issuer in preference to any security junior to it. The N/A in this column indicates that the SEC expressly does not require this information to be disclosed for certain types of senior securities. (4) Average market value per unit is not applicable because these are not registered for public trading.

Stockholders' Equity (Net Ass_2

Stockholders' Equity (Net Assets) (Tables)	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Cash Dividend Declared	The Board of Directors declared the following cash dividends during the year ended December 31, 2022: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.15 March 14, 2022 March 28, 2022 Regular Quarterly 2nd $ 0.15 June 1, 2022 June 15, 2022 Regular Quarterly 3rd $ 0.15 September 1, 2022 September 15, 2022 Regular Quarterly 4th $ 0.20 December 19, 2022 December 30, 2022 Regular Quarterly 4th $ 0.18 December 19, 2022 December 30, 2022 Special The Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special The Corporation’s Board of Directors declared the following cash dividends during the year ended December 31, 2023: Quarter Dividend/Share Record Date Payment Date Type 1st $ 0.20 March 13, 2023 March 27, 2023 Regular Quarterly 2nd $ 0.25 May 31, 2023 June 14, 2023 Regular Quarterly 3rd $ 0.25 August 31, 2023 September 14, 2023 Regular Quarterly 4th $ 0.25 December 18, 2023 December 29, 2023 Regular Quarterly 4th $ 0.38 December 18, 2023 December 29, 2023 Special
Schedule of Changes in Equity Accounts	Summary of changes in equity accounts: Common Stock Capital in excess of par value Treasury Stock, at cost Total distributable earnings (losses) Total Stockholders’ January 1, 2022 $ 264,892 $ 51,679,809 $ ( 1,566,605 ) $ 10,367,320 $ 60,745,416 Dividend declaration — — — ( 2,142,247 ) ( 2,142,247 ) Tax reclassification of stockholders’ equity in accordance with generally accepted accounting principles — ( 215,542 ) — 215,542 — Net decrease in net assets from operations — — — ( 881,849 ) ( 881,849 ) December 31, 2022 $ 264,892 $ 51,464,267 $ ( 1,566,605 ) $ 7,558,766 $ 57,721,320 January 1, 2023 $ 264,892 $ 51,464,267 $ ( 1,566,605 ) $ 7,558,766 $ 57,721,320 Dividend declaration — — — ( 3,432,757 ) ( 3,432,757 ) Tax reclassification of stockholders’ equity in accordance with generally accepted accounting principles — 4,336,903 — ( 4,336,903 ) — Net increase in net assets from operations — — — 6,526,650 6,526,650 December 31, 2023 $ 264,892 $ 55,801,170 $ ( 1,566,605 ) $ 6,315,756 $ 60,815,213

Quarterly Operations and Earn_2

Quarterly Operations and Earnings Data - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Operations and Earnings Data	4th Quarter 3rd Quarter 2nd Quarter 1st Quarter 2023 Investment income $ 1,930,119 $ 1,741,114 $ 1,815,432 $ 1,851,498 Net increase in net assets from operations $ 1,088,979 $ 595,504 $ 2,671,890 $ 2,170,277 Basic and diluted net increase in net assets from operations per weighted share outstanding $ 0.42 $ 0.23 $ 1.04 $ 0.84 2022 Investment income $ 1,732,986 $ 1,554,265 $ 1,353,182 $ 1,124,748 Net increase (decrease) in net assets from operations $ 320,175 $ 1,104,902 $ ( 1,896,389 ) $ ( 410,537 ) Basic and diluted net increase (decrease) in net assets from operations per weighted share outstanding $ 0.12 $ 0.43 $ ( 0.73 ) $ ( 0.16 )

Allowance For Credit Losses (Ta

Allowance For Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Changes in Allowance for Credit Losses	Changes in the allowance for credit losses consist of the following: 2023 2022 2021 Balance at beginning of year $ — $ — $ ( 15,000 ) Write offs/Recoveries — — 15,000 Balance at end of year $ — $ — $ —

Organization - Additional Infor

Organization - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Nov. 30, 2019	Dec. 31, 2023	Dec. 31, 2022	May 21, 2020	May 20, 2020
Subsidiary, Sale of Stock [Line Items]
Common shares, outstanding		2,581,021	2,581,021	2,588,800	23,304,424
East Asset Management
Subsidiary, Sale of Stock [Line Items]
Stock sale transaction cost	$ 25
Common stock issued	8,300,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)				1 Months Ended		3 Months Ended		12 Months Ended
	Dec. 21, 2020 $ / shares	May 21, 2020 shares	Mar. 03, 2020 USD ($) $ / shares	Nov. 30, 2021 USD ($)	Nov. 30, 2019 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020	Apr. 19, 2023 USD ($)	May 20, 2020 shares
Summary of Significant Accounting Policies [Line Items]
Minimum percentage of total assets in qualifying assets								70%	70%
Reverse stock split		1-for-9 reverse stock split
Reverse stock split, ratio		0.1111
Common shares, issued | shares		2,648,916				2,648,916	2,648,916	2,648,916	2,648,916				23,845,470
Common shares, outstanding | shares		2,588,800				2,581,021	2,581,021	2,581,021	2,581,021				23,304,424
Percentage of interest income reserve established								100%
Fee income related to amortization of financing fees								$ 205,480	$ 120,914	$ 87,018
Estimated fees income related to amortization of financing fees year one						$ 169,000		169,000
Estimated fees income related to amortization of financing fees year two						164,000		164,000
Estimated fees income related to amortization of financing fees year three						114,000		114,000
Board fees earned								0	25,000	14,096
Non-recurring loan monitoring fees									10,000
Non-recurring fees related to prepayment fees, loan modification fees and loan monitoring fees								115,264
Non-recurring fees related to prepayment, application and loan monitoring fees										55,500
Original issue discount income								21,008	25,008	112,175
Estimated original issue discount income in next year						16,000		16,000
Amortization expense								25,000	12,500
Estimated amortization of deferred financing fees year one						25,000		25,000
Estimated Amortization of Deferred Financing Fee Year Two						25,000		25,000
Estimated amortization of deferred financing fees year three						$ 25,000		25,000
Amortization of deferred debenture costs								0	0	175,400
Income taxes paid								645,248	(5,284)	(131,934)
Interest paid								934,638	48,274	567,070
Interest receivable into investments								$ 1,225,773	739,355	$ 346,045
Interest receivable and payment-in-kind									$ 739,356
Preferred stock authorized | shares						500,000	500,000	500,000	500,000
Preferred stock, par value | $ / shares						$ 10	$ 10	$ 10	$ 10
Federal excise tax expense								$ 52,800	$ 0
Percentage of excise tax								4%
Special Dividend
Summary of Significant Accounting Policies [Line Items]
Dividends			$ 23,700,000
Dividend per share | $ / shares			$ 1.62			$ 0.38	$ 0.18	$ 0.38	$ 0.18
Dividend declared date			Mar. 03, 2020
Dividend record date						Dec. 18, 2023	Dec. 19, 2022
Dividend payable date			May 11, 2020			Dec. 29, 2023	Dec. 30, 2022
Cash Dividend
Summary of Significant Accounting Policies [Line Items]
Percentage of Estimated Investment Taxable Income											90%
2020 Cash Dividend
Summary of Significant Accounting Policies [Line Items]
Dividend per share | $ / shares	$ 1.33
Dividend declared date	Dec. 21, 2020
Dividend record date	Dec. 31, 2020
Dividend payable date	Jan. 19, 2021
U.S. Small Business Administration
Summary of Significant Accounting Policies [Line Items]
Repayment of outstanding debentures				$ 11,000,000
Common Stock
Summary of Significant Accounting Policies [Line Items]
Authorized repurchase amount												$ 1,500,000
Repurchase of common stock | shares								0	0
Minimum
Summary of Significant Accounting Policies [Line Items]
Control investments voting securities						25%		25%
Control investments voting securities percentage on Board						50%		50%
Affiliate investments voting securities						5%		5%
Maximum
Summary of Significant Accounting Policies [Line Items]
Affiliate investments voting securities						25%		25%
East Asset Management
Summary of Significant Accounting Policies [Line Items]
Stock sale transaction cost					$ 25,000,000
Common stock issued | shares					8,300,000
Contribution received In form of cash					$ 15,500,000
Contribution received in form of portfolio assets					$ 9,500,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Cash Dividends Declared (Details) - $ / shares		3 Months Ended
	Mar. 03, 2020	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Regular Quarterly
Accounting Policies [Line Items]
Dividend per share		$ 0.25	$ 0.25	$ 0.25	$ 0.2	$ 0.2	$ 0.15	$ 0.15	$ 0.15
Record date		Dec. 18, 2023	Aug. 31, 2023	May 31, 2023	Mar. 13, 2023	Dec. 19, 2022	Sep. 01, 2022	Jun. 01, 2022	Mar. 14, 2022
Payment date		Dec. 29, 2023	Sep. 14, 2023	Jun. 14, 2023	Mar. 27, 2023	Dec. 30, 2022	Sep. 15, 2022	Jun. 15, 2022	Mar. 28, 2022
Special
Accounting Policies [Line Items]
Dividend per share	$ 1.62	$ 0.38				$ 0.18
Record date		Dec. 18, 2023				Dec. 19, 2022
Payment date	May 11, 2020	Dec. 29, 2023				Dec. 30, 2022

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Concentrations of Portfolio Company Values Compared to the Fair Value of the Corporation's Total Investment Portfolio (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Tilson
Accounting Policies [Line Items]
Concentration risk investment portfolio	14%	17%
FSS
Accounting Policies [Line Items]
Concentration risk investment portfolio	10%
Seybert's
Accounting Policies [Line Items]
Concentration risk investment portfolio	8%	10%
Sciaps
Accounting Policies [Line Items]
Concentration risk investment portfolio	7%	8%
INEA
Accounting Policies [Line Items]
Concentration risk investment portfolio	6%
DSD
Accounting Policies [Line Items]
Concentration risk investment portfolio		8%
Caitec
Accounting Policies [Line Items]
Concentration risk investment portfolio		6%

Investments - Additional Inform

Investments - Additional Information (Details)	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Percentage of fair value level 1 investments	9%	10%
Percentage of fair value level 2 investments	0%	0%
Percentage of fair value level 3 investments	91%	90%

Investments - Summary of the Si

Investments - Summary of the Significant Unobservable Inputs to Determine the Fair Value of Level 3 Portfolio Investments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	$ 77,125,712	$ 61,504,259
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	38,969,017	24,922,805
Market Approach Liquidation Seniority	8,614,842	5,862,919
Market Approach Revenue Multiple	6,013,984	6,710,924
Market Approach Transaction Pricing	16,218,219	17,600,063
Totals	69,816,062	55,096,711
Level 3 | Non-Control/Non-Affiliate Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	72,522	300,000
Market Approach Liquidation Seniority		125,000
Market Approach Revenue Multiple	700,000	1,401,940
Market Approach Transaction Pricing	100,063	200,063
Totals	872,585	2,027,003
Level 3 | Non-Control/Non-Affiliate Loan and Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	6,829,263	6,840,200
Market Approach Liquidation Seniority	4,465,882	2,201,712
Market Approach Transaction Pricing		2,250,000
Totals	11,295,145	11,291,912
Level 3 | Total Non-Control/Non-Affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	6,901,785	7,140,200
Market Approach Liquidation Seniority	4,465,882	2,326,712
Market Approach Revenue Multiple	700,000	1,401,940
Market Approach Transaction Pricing	100,063	2,450,063
Totals	12,167,730	13,318,915
Level 3 | Affiliate Equity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	5,889,991	4,784,757
Market Approach Revenue Multiple	3,223,984	3,223,984
Market Approach Transaction Pricing	10,550,000	10,900,000
Totals	19,663,975	18,908,741
Level 3 | Affiliate Loan and Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	26,177,241	12,997,848
Market Approach Revenue Multiple	2,090,000	2,085,000
Market Approach Transaction Pricing	5,568,156	4,250,000
Totals	33,835,397	19,332,848
Level 3 | Total Affiliate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach EBITDA Multiple	32,067,232	17,782,605
Market Approach Revenue Multiple	5,313,984	5,308,984
Market Approach Transaction Pricing	16,118,156	15,150,000
Totals	53,499,372	38,241,589
Level 3 | Control Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach Liquidation Seniority	4,148,960	3,536,207
Totals	4,148,960	3,536,207
Level 3 | Total Control
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market Approach Liquidation Seniority	4,148,960	3,536,207
Totals	$ 4,148,960	$ 3,536,207

Investments - Summary of the co

Investments - Summary of the components of Assets Measured at Fair Value (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	$ 77,125,712	$ 61,504,259
Loan investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	12,417,977	14,578,351
Debt investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	36,861,525	19,582,616
Equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	27,846,210	27,343,292
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	7,309,650	6,407,548
Level 1 | Equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	7,309,650	6,407,548
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	69,816,062	55,096,711
Level 3 | Loan investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	12,417,977	14,578,351
Level 3 | Debt investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	36,861,525	19,582,616
Level 3 | Equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	$ 20,536,560	$ 20,935,744

Investments - Summary of Change

Investments - Summary of Changes in Assets Measured at Fair Value Using Significant Unobservable Inputs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in unrealized appreciation/depreciation on investments for the period included in changes in net assets	$ 2,972,084	$ (5,909,772)	$ 12,369,606
Net realized gain on investments for the period included in changes in net assets	3,558,917	(5,312,259)	18,402,336
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance, of Level 3 Assets	55,096,711	50,167,417
Total realized gains (losses)	(667,688)	(1,258,637)
Total unrealized gains (losses)	2,035,857	627,608
Purchases of securities/changes to securities/non-cash conversions	21,599,244	7,790,450
Repayments and sales of securities	(8,248,062)	(2,230,127)
Ending balance, of Level 3 Assets	69,816,062	55,096,711	50,167,417
Change in unrealized appreciation/depreciation on investments for the period included in changes in net assets	(474,273)	(1,048,233)
Level 3 | Clearview Social
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	10,432	53,783
Repayments and sales of securities	(10,432)	(53,783)
Level 3 | Givegab
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)		1,919
Repayments and sales of securities		(1,919)
Level 3 | Microcision
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	115,010	190,000
Total unrealized gains (losses)		25,000
Repayments and sales of securities	(115,010)	(300,000)
Level 3 | New Monarch
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)		(22,841)
Total unrealized gains (losses)		22,841
Level 3 | Social Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	(4,941)	(1,481,498)
Total unrealized gains (losses)		1,628,000
Purchases of securities/changes to securities/non-cash conversions	4,941
Repayments and sales of securities		268,502
Level 3 | Carolina Skiff
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(249,000)	657,000
Level 3 | Mercantile
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	3,440
Repayments and sales of securities	(3,440)
Level 3 | Caitec
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(300,000)
Purchases of securities/changes to securities/non-cash conversions	301,128	73,326
Level 3 | DSD
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	2,459,819
Total unrealized gains (losses)	(886,698)	886,698
Purchases of securities/changes to securities/non-cash conversions	31,652	380,599
Repayments and sales of securities	(6,698,753)
Level 3 | Knoa Software
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		(379,155)
Level 3 | OnCore
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		(200,000)
Level 3 | Open Exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(701,940)	(4,168,060)
Level 3 | Post Process
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(100,000)	(248,875)
Level 3 | Rheonix
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	(2,802,731)
Total unrealized gains (losses)	2,802,731
Level 3 | Somerset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	(448,717)
Total unrealized gains (losses)	594,097	(375,000)
Repayments and sales of securities	(270,380)
Level 3 | First Coast Mulch
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	3,818,156
Level 3 | Filterworks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	247,841	325,720
Level 3 | FSS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	610,000
Purchases of securities/changes to securities/non-cash conversions	4,535,000	3,100,000
Repayments and sales of securities	(850,047)
Level 3 | Swanson
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	266,667
Purchases of securities/changes to securities/non-cash conversions	100,115
Level 3 | GoNoodle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	14,170	14,142
Repayments and sales of securities		(90,175)
Level 3 | Hilton Displays
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	22,523	26,587
Repayments and sales of securities	(300,000)
Level 3 | All About People
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	4,049,187
Level 3 | INEA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	4,349,839
Level 3 | ITA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		(748,810)
Purchases of securities/changes to securities/non-cash conversions	612,753	723,405
Level 3 | Mattison
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	37,934	37,175
Level 3 | Empire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments and sales of securities		(1,444,915)
Level 3 | Lumious
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments and sales of securities		(70,833)
Level 3 | Pressure Pro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	3,093,436
Level 3 | Seybert
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	125,569	2,504,496
Level 3 | Sciaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		2,152,984
Purchases of securities/changes to securities/non-cash conversions	5,000	605,000
Level 3 | Tilson
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		1,374,985
Purchases of securities/changes to securities/non-cash conversions	250,000
Level 3 | Loan investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance, of Level 3 Assets	14,578,351	15,503,404
Purchases of securities/changes to securities/non-cash conversions	1,011,060	590,695
Repayments and sales of securities	(3,171,434)	(1,515,748)
Ending balance, of Level 3 Assets	12,417,977	14,578,351	15,503,404
Level 3 | Loan investments | Caitec
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	228,606	73,326
Level 3 | Loan investments | DSD
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	31,652	380,599
Repayments and sales of securities	(3,171,434)
Level 3 | Loan investments | Swanson
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	100,115
Level 3 | Loan investments | ITA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	612,753	99,595
Level 3 | Loan investments | Mattison
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	37,934	37,175
Level 3 | Loan investments | Empire
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments and sales of securities		(1,444,915)
Level 3 | Loan investments | Lumious
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayments and sales of securities		(70,833)
Level 3 | Debt investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance, of Level 3 Assets	19,582,616	14,030,078
Purchases of securities/changes to securities/non-cash conversions	18,218,956	5,642,713
Repayments and sales of securities	(940,047)	(90,175)
Ending balance, of Level 3 Assets	36,861,525	19,582,616	14,030,078
Level 3 | Debt investments | First Coast Mulch
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	3,818,156
Level 3 | Debt investments | Filterworks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	247,841	186,488
Level 3 | Debt investments | FSS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	4,535,000	2,500,000
Repayments and sales of securities	(640,047)
Level 3 | Debt investments | GoNoodle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	14,170	14,142
Repayments and sales of securities		(90,175)
Level 3 | Debt investments | Hilton Displays
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	22,523	26,587
Repayments and sales of securities	(300,000)
Level 3 | Debt investments | All About People
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	3,049,187
Level 3 | Debt investments | INEA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	3,338,074
Level 3 | Debt investments | Pressure Pro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	3,063,436
Level 3 | Debt investments | Seybert
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	125,569	2,310,496
Level 3 | Debt investments | Sciaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	5,000	605,000
Level 3 | Equity investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ending balance, of Level 3 Assets	20,935,744	20,633,935
Total realized gains (losses)	(667,688)	(1,258,637)
Total unrealized gains (losses)	2,035,857	627,608
Purchases of securities/changes to securities/non-cash conversions	2,369,228	1,557,042
Repayments and sales of securities	(4,136,581)	(624,204)
Ending balance, of Level 3 Assets	20,536,560	20,935,744	$ 20,633,935
Level 3 | Equity investments | Clearview Social
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	10,432	53,783
Repayments and sales of securities	(10,432)	(53,783)
Level 3 | Equity investments | Givegab
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)		1,919
Repayments and sales of securities		(1,919)
Level 3 | Equity investments | Microcision
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	115,010	190,000
Total unrealized gains (losses)		25,000
Repayments and sales of securities	(115,010)	(300,000)
Level 3 | Equity investments | New Monarch
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)		(22,841)
Total unrealized gains (losses)		22,841
Level 3 | Equity investments | Social Flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	(4,941)	(1,481,498)
Total unrealized gains (losses)		1,628,000
Purchases of securities/changes to securities/non-cash conversions	4,941
Repayments and sales of securities		(268,502)
Level 3 | Equity investments | Carolina Skiff
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(249,000)	657,000
Level 3 | Equity investments | Mercantile
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	3,440
Repayments and sales of securities	(3,440)
Level 3 | Equity investments | Caitec
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(300,000)
Purchases of securities/changes to securities/non-cash conversions	72,522
Level 3 | Equity investments | DSD
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	2,459,819
Total unrealized gains (losses)	(886,698)	886,698
Repayments and sales of securities	(3,527,319)
Level 3 | Equity investments | Knoa Software
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		(379,155)
Level 3 | Equity investments | OnCore
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		(200,000)
Level 3 | Equity investments | Open Exchange
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(701,940)	(4,168,060)
Level 3 | Equity investments | Post Process
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	(100,000)	(248,875)
Level 3 | Equity investments | Rheonix
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	(2,802,731)
Total unrealized gains (losses)	2,802,731
Level 3 | Equity investments | Somerset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total realized gains (losses)	(448,717)
Total unrealized gains (losses)	594,097	(375,000)
Repayments and sales of securities	(270,380)
Level 3 | Equity investments | Filterworks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions		139,232
Level 3 | Equity investments | FSS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	610,000
Purchases of securities/changes to securities/non-cash conversions		600,000
Repayments and sales of securities	(210,000)
Level 3 | Equity investments | Swanson
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)	266,667
Level 3 | Equity investments | All About People
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	1,000,000
Level 3 | Equity investments | INEA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	1,011,765
Level 3 | Equity investments | ITA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		(748,810)
Purchases of securities/changes to securities/non-cash conversions		623,810
Level 3 | Equity investments | Pressure Pro
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions	30,000
Level 3 | Equity investments | Seybert
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Purchases of securities/changes to securities/non-cash conversions		194,000
Level 3 | Equity investments | Sciaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		2,152,984
Level 3 | Equity investments | Tilson
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total unrealized gains (losses)		$ 1,374,985
Purchases of securities/changes to securities/non-cash conversions	$ 250,000

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Other Assets [Abstract]
Dividend receivables	$ 85,090	$ 102,655
Deferred financing fees, net	87,500	112,500
Prepaid expenses	16,711	10,905
Escrow receivables		68,983
Total other assets	$ 189,301	$ 295,043

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Corporate-level federal income taxes on net ordinary income or capital gains	$ 0	$ 0	$ 0
Percentage of regulated investment company tax requirement of gross income for federal income tax	90%
Business interest expense carryforwards	$ 766,621	291,416
Interest and penalties realted to unrecognized tax positions	0	0
Interest for late payment of federal taxes owing			$ 2,627
Interest income received relating to IRS carryback claim		10,116
Net capital loss carry forward	1,546,597
Capital loss carryforwards	$ 625,419	0
Percentage of excise tax	4%
Federal excise tax expense	$ 52,800	0
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	2,244,664	955,952
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	1,957,489	567,127
Blocker Corporations
Operating Loss Carryforwards [Line Items]
Deferred tax asset, net	39,179	28,160
Valuation allowance	$ 131,000	$ 0

Income Taxes - Schedule of Diff

Income Taxes - Schedule of Differences Reclassified for Tax Purposes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Increase (decrease) in capital in excess of par value	$ 4,336,903	$ (215,542)
(Decrease) increase in total distributable earnings	$ (4,336,903)	$ 215,542

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Net assets Resulting from Operations to Taxable Income (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net increase (decrease) in net assets resulting from operations	$ 1,088,979	$ 595,504	$ 2,671,890	$ 2,170,277	$ 320,175	$ 1,104,902	$ (1,896,389)	$ (410,537)	$ 6,526,650	$ (881,849)	$ 15,797,428
Net change in unrealized appreciation/depreciation on investments									(2,867,520)	6,017,752	$ (12,581,982)
Net change in deferred tax asset/liability									(77,734)	44,862
GAAP versus tax basis consolidation of subsidiaries									(1,332,687)	(863,702)
Other permanent book income and tax income differences									1,348,624	170,680
Temporary book income and tax income differences									(82,198)	(803,001)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total									$ 3,515,135	$ 3,684,742

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Character of Distributions Paid and Deemed Paid (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Ordinary income	$ 3,432,757	$ 2,142,247
Total	$ 3,432,757	$ 2,142,247

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Distributable Earnings/(Accumulated Losses) and Reconciliation to Accumulated Earnings/(Deficit) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Undistributed ordinary income -- tax basis	$ 332,806	$ 250,428
Capital loss carry forwards	(1,546,597)
Unrealized appreciation on investments	9,906,212	5,993,782
GAAP vs tax basis consolidation of subsidiaries		863,702
Other temporary differences	2,376,665	1,389,575
Total accumulated earnings -- book basis	$ 6,315,756	$ 8,497,487

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Deferred Tax Asset (Details) - Blocker Corporations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Investments	$ (644,497)	$ (234,730)
NOL & tax credit carryforwards	683,676	262,890
Deferred tax asset, net	$ 39,179	$ 28,160

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred:
Deferred Income Tax Expense (Benefit)	$ (11,019)	$ 152,843	$ (302,144)
Total	192,111	215,542	10,896
Blocker Corporations
Current:
Federal	609,056	173,235	85,829
State	58,320	(2,555)	14,835
Current Income Tax Expense (Benefit)	667,376	170,680	100,664
Deferred:
Federal	(13,797)	92,304	(279,167)
State	2,778	60,538	(22,977)
Deferred Income Tax Expense (Benefit)	(11,019)	152,842	(302,144)
Total	$ 656,357	$ 323,522	$ (201,480)

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of the Expense (Benefit) From Income Taxes at the Federal Statutory Rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Total	$ 192,111	$ 215,542	$ 10,896
Blocker Corporations
Operating Loss Carryforwards [Line Items]
Net investment income (loss), realized gain (loss) and unrealized gain (loss) before income taxes	7,183,007	(558,327)	15,595,948
Expected tax expense (benefit) at statutory rate	1,508,431	(117,249)	3,275,149
State - net of federal effect	48,267	45,807	(8,142)
Pass-through expense (benefit) from portfolio investment	487	721	(46,210)
Valuation allowance	131,338
Tax benefit of RIC status	(1,067,238)	400,329	(3,426,735)
RIC excise tax expense	52,800
Other	(17,728)	(6,086)	4,458
Total	$ 656,357	$ 323,522	$ (201,480)

Senior Secured Revolving Cred_3

Senior Secured Revolving Credit Facility - Additional Information (Details)			12 Months Ended
		Jun. 27, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Line of credit facility, outstanding balance			$ 16,250,000	$ 2,550,000
Amortization expense			25,000	12,500
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, outstanding balance	[1]		16,250,000	2,550,000
Credit Agreement | Minimum
Line of Credit Facility [Line Items]
Tangible assets		$ 50,000,000
Asset coverage ratio		0.3333
Interest coverage ratio		0.4
Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, outstanding balance			16,250,000	2,550,000
Line of credit facility, closing fee				125,000
Line of credit facility, closing fee			87,500	112,500
Amortization expense			25,000	$ 12,500
M&T Bank | Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 25,000,000
Aggregate sum of fair market values of publicly traded equity securities held, percentage		75%
Fair market value of shares of ACV Auctions held, percentage		75%
Aggregate sum of the fair market values of eligible private loans held, percentage		50%
Aggregate sum of the fair market values of unsecured private loans held, percentage		50%
Line of credit facility, available borrowing capacity		$ 6,250,000	$ 8,750,000
Maturity date		Jun. 27, 2027
Variable rate		0.25%
Interest rate			8.88%
Line of credit facility, unused capacity, commitment fee		0.30%
Percentage of availability of aggregate borrowing base credit facility		25%
Line of credit facility, outstanding balance		$ 1,250,000
M&T Bank | Credit Agreement | Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Variable rate		3.50%
[1] Total amount of each class of senior securities outstanding at the end of the period presented

Senior Secured Revolving Cred_4

Senior Secured Revolving Credit Facility - Schedule of Average Debt Outstanding Under the Credit Facility and Weighted Average Interest Rate (Details) - Credit Agreement - Revolving Credit Facility - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Average debt outstanding	$ 11,180,959	$ 253,562
Weighted average interest rate	8.72%	7.90%

Senior Secured Revolving Cred_5

Senior Secured Revolving Credit Facility - Summary of Information about Senior Securities (Details) - USD ($)		Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Total amount of senior securities outstanding, exclusive of treasury securities		$ 16,250,000	$ 2,550,000
Credit Facility
Line of Credit Facility [Line Items]
Total amount of senior securities outstanding, exclusive of treasury securities	[1]	16,250,000	2,550,000
Asset Coverage Ratio Per Unit	[2]	$ 4,737	$ 23,636
[1] Total amount of each class of senior securities outstanding at the end of the period presented Asset coverage per unit is the ratio of the carrying value of the Corporation’s total consolidated assets, less all liabilities and indebtedness not represented by senior securities, to the aggregate amount of senior securities representing indebtedness. Asset coverage per unit is expressed in terms of dollar amounts per $ 1,000 of indebtedness.

Senior Secured Revolving Cred_6

Senior Secured Revolving Credit Facility - Summary of Information about Corporation's Senior Securities (Parenthetical) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Abstract]
Asset coverage ratio per unit of indebtedness	$ 1,000	$ 1,000

Stockholders' Equity (Net Ass_3

Stockholders' Equity (Net Assets) - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Apr. 19, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized	500,000	500,000
Preferred stock, par value	$ 10	$ 10
Common Stock
Class of Stock [Line Items]
Authorized repurchase amount			$ 1,500,000
Repurchase of common stock	0	0

Stockholders' Equity (Net Ass_4

Stockholders' Equity (Net Assets) -Schedule of Cash Dividend Declared (Details) - $ / shares		3 Months Ended
	Mar. 03, 2020	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Regular Quarterly
Dividends Payable [Line Items]
Dividend/Share Amount		$ 0.25	$ 0.25	$ 0.25	$ 0.2	$ 0.2	$ 0.15	$ 0.15	$ 0.15
Record Date		Dec. 18, 2023	Aug. 31, 2023	May 31, 2023	Mar. 13, 2023	Dec. 19, 2022	Sep. 01, 2022	Jun. 01, 2022	Mar. 14, 2022
Payment Date		Dec. 29, 2023	Sep. 14, 2023	Jun. 14, 2023	Mar. 27, 2023	Dec. 30, 2022	Sep. 15, 2022	Jun. 15, 2022	Mar. 28, 2022
Special
Dividends Payable [Line Items]
Dividend/Share Amount	$ 1.62	$ 0.38				$ 0.18
Record Date		Dec. 18, 2023				Dec. 19, 2022
Payment Date	May 11, 2020	Dec. 29, 2023				Dec. 30, 2022

Stockholders' Equity (Net Ass_5

Stockholders' Equity (Net Assets) - Schedule of Changes in Equity Accounts (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net assets at beginning of year				$ 57,721,320				$ 60,745,416	$ 57,721,320	$ 60,745,416	$ 46,104,830
Dividend declaration									(3,432,757)	(2,142,247)	(1,136,071)
Net increase (decrease) in net assets from operations	$ 1,088,979	$ 595,504	$ 2,671,890	2,170,277	$ 320,175	$ 1,104,902	$ (1,896,389)	(410,537)	6,526,650	(881,849)	15,797,428
Net assets at end of year	60,815,213				57,721,320				60,815,213	57,721,320	60,745,416
Common Stock
Net assets at beginning of year				264,892				264,892	264,892	264,892
Net assets at end of year	264,892				264,892				264,892	264,892	264,892
Capital in Excess of Par Value
Net assets at beginning of year				51,464,267				51,679,809	51,464,267	51,679,809
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles									4,336,903	(215,542)
Net assets at end of year	55,801,170				51,464,267				55,801,170	51,464,267	51,679,809
Treasury Stock, at cost
Net assets at beginning of year				(1,566,605)				(1,566,605)	(1,566,605)	(1,566,605)
Net assets at end of year	(1,566,605)				(1,566,605)				(1,566,605)	(1,566,605)	(1,566,605)
Total Distributable Earnings (Losses)
Net assets at beginning of year				$ 7,558,766				$ 10,367,320	7,558,766	10,367,320
Dividend declaration									(3,432,757)	(2,142,247)
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles									(4,336,903)	215,542
Net increase (decrease) in net assets from operations									6,526,650	(881,849)
Net assets at end of year	$ 6,315,756				$ 7,558,766				$ 6,315,756	$ 7,558,766	$ 10,367,320

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments

Quarterly Operations and Earn_3

Quarterly Operations and Earnings Data - Unaudited - Schedule of Quarterly Operations and Earnings Data (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Investment income	$ 1,930,119	$ 1,741,114	$ 1,815,432	$ 1,851,498	$ 1,732,986	$ 1,554,265	$ 1,353,182	$ 1,124,748	$ 7,338,163	$ 5,765,181	$ 4,076,303
Net increase (decrease) in net assets from operations	$ 1,088,979	$ 595,504	$ 2,671,890	$ 2,170,277	$ 320,175	$ 1,104,902	$ (1,896,389)	$ (410,537)	$ 6,526,650	$ (881,849)	$ 15,797,428
Basic net increase (decrease) in net assets from operations per weighted share outstanding	$ 0.42	$ 0.23	$ 1.04	$ 0.84	$ 0.12	$ 0.43	$ (0.73)	$ (0.16)	$ 2.53	$ (0.34)	$ 6.12
Diluted net increase (decrease) in net assets from operations per weighted share outstanding	$ 0.42	$ 0.23	$ 1.04	$ 0.84	$ 0.12	$ 0.43	$ (0.73)	$ (0.16)	$ 2.53	$ (0.34)	$ 6.12

Allowance For Credit Losses - C

Allowance For Credit Losses - Changes in Allowance for Credit Losses (Details)	12 Months Ended
	Dec. 31, 2021 USD ($)
Receivables [Abstract]
Balance at beginning of year	$ (15,000)
Write offs/Recoveries	15,000
Balance at end of year	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Base management fee	$ 1,057,166	$ 927,226	$ 858,144
Percentage of cumulative net return	20%
Capital gains fee payable	$ 692,000	332,000	652,240
Accrue of capital gains incentive fee	2,279,700	2,167,000
Capital gains incentive fee	$ 804,700	(1,048,760)	4,200,000
Percentage on capital gain fee on aggregate amount	20%
Percentage of capital gains incentive fee accrual on aggregate amount	20%
Administrative fees	$ 149,000
Not exceed hurdle rate 1.75% - 7.00%
Related Party Transaction [Line Items]
Income based fee	$ 0
Not exceed hurdle rate 1.75% - 7.00% | Maximum
Related Party Transaction [Line Items]
Hurdle rate per quarter	1.75%
Annualized hurdle rate	7%
Exceeds hurdle rate 1.75% - 7% but less than 2.1875% - 8.75%
Related Party Transaction [Line Items]
Percentage of pre-incentive fee net investment income	100%
Exceeds hurdle rate 1.75% - 7% but less than 2.1875% - 8.75% | Maximum
Related Party Transaction [Line Items]
Hurdle rate per quarter	2.1875%
Annualized hurdle rate	8.75%
Exceeds hurdle rate 1.75% - 7% but less than 2.1875% - 8.75% | Minimum
Related Party Transaction [Line Items]
Hurdle rate per quarter	1.75%
Annualized hurdle rate	7%
Exceeds hurdle rate 2.1875% - 8.75%
Related Party Transaction [Line Items]
Percentage of pre-incentive fee net investment income	20%
Exceeds hurdle rate 2.1875% - 8.75% | Minimum
Related Party Transaction [Line Items]
Hurdle rate per quarter	2.1875%
Annualized hurdle rate	8.75%
Investment Management Agreement
Related Party Transaction [Line Items]
Base management fee annual rate	1.50%
Base management fees payable	$ 287,297	230,221
Base management fee	1,057,166	927,226	858,144
Income based fee	0	0	0
Administration Agreement
Related Party Transaction [Line Items]
Administrative fees	$ 149,000	$ 0	$ 0

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - Subsequent Event	Feb. 26, 2024 $ / shares
Subsequent Event [Line Items]
Dividend declared date	Feb. 26, 2024
Dividend per share	$ 0.25
Dividend payable date	Mar. 29, 2024
Dividend record date	Mar. 13, 2024

Schedule Of Consolidated Chan_2

Schedule Of Consolidated Changes In Investments At Cost And Realized Gain - Schedule of changes in investments at cost and realized gain (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Cost Increase (Decrease)	$ 12,649,369
Realized Gains (Loss)	1,051,079	$ 705,493	$ 5,820,354
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, ACV Auctions, Inc. stock sold
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(34,125)
Realized Gains (Loss)	1,718,767
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, BMP Food Service Supply Holdco, LLC debt repayment and equity sale
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(850,047)
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, ClearView Social Inc. escrow receipt
Schedule of Investments [Line Items]
Realized Gains (Loss)	10,432
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, DSD Operating, LLC debt repayment and equity sale
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(4,238,934)
Realized Gains (Loss)	2,459,819
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, HDI Acquisition LLC debt repayment
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(300,000)
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, Mercantile Adjustment Bureau, LLC escrow receipt
Schedule of Investments [Line Items]
Realized Gains (Loss)	3,440
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, Microcision LLC additional proceeds
Schedule of Investments [Line Items]
Realized Gains (Loss)	115,010
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, Rheonix, Inc. liquidated
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(2,802,731)
Realized Gains (Loss)	(2,802,731)
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, SocialFlow, Inc. escrow loss
Schedule of Investments [Line Items]
Realized Gains (Loss)	(4,941)
Investment, Identifier [Axis]: Investments repaid, sold or liquidated, Somerset Gas Transmission Company, LLC equity sale
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(719,097)
Realized Gains (Loss)	(448,717)
Investment, Identifier [Axis]: New investments, BMP Food Service Supply Holdco, LLC
Schedule of Investments [Line Items]
Cost Increase (Decrease)	4,535,000
Investment, Identifier [Axis]: New investments, Caitec, Inc.
Schedule of Investments [Line Items]
Cost Increase (Decrease)	72,522
Investment, Identifier [Axis]: New investments, FCM Industries Holdco LLC
Schedule of Investments [Line Items]
Cost Increase (Decrease)	3,800,000
Investment, Identifier [Axis]: New investments, Highland All About People Holdings, Inc.
Schedule of Investments [Line Items]
Cost Increase (Decrease)	4,000,000
Investment, Identifier [Axis]: New investments, ITA Acquisition, LLC
Schedule of Investments [Line Items]
Cost Increase (Decrease)	390,000
Investment, Identifier [Axis]: New investments, Inter-National Electronic Alloys LLC
Schedule of Investments [Line Items]
Cost Increase (Decrease)	4,300,000
Investment, Identifier [Axis]: New investments, Pressure Pro, Inc.
Schedule of Investments [Line Items]
Cost Increase (Decrease)	3,000,000
Investment, Identifier [Axis]: New investments, Tilson Technology Management, Inc.
Schedule of Investments [Line Items]
Cost Increase (Decrease)	250,000
Investment, Identifier [Axis]: Other changes to investments, BMP Swanson Holdco, LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	100,115
Investment, Identifier [Axis]: Other changes to investments, Caitec, Inc. interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	228,606
Investment, Identifier [Axis]: Other changes to investments, DSD Operating, LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	31,652
Investment, Identifier [Axis]: Other changes to investments, FCM Industries Holdco LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	18,156
Investment, Identifier [Axis]: Other changes to investments, Filterworks Acquisition USA, LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	247,841
Investment, Identifier [Axis]: Other changes to investments, GoNoodle, Inc. interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	14,170
Investment, Identifier [Axis]: Other changes to investments, HDI Acquisition LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	22,523
Investment, Identifier [Axis]: Other changes to investments, Highland All About People Holdings, Inc. interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	49,187
Investment, Identifier [Axis]: Other changes to investments, ITA Acquisition, LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	222,753
Investment, Identifier [Axis]: Other changes to investments, Inter-National Electronic Alloys LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	49,839
Investment, Identifier [Axis]: Other changes to investments, Mattison Avenue Holdings, LLC interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	37,934
Investment, Identifier [Axis]: Other changes to investments, Pressure Pro, Inc. OID amortization and interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	93,436
Investment, Identifier [Axis]: Other changes to investments, SciAps, Inc. OID amortization
Schedule of Investments [Line Items]
Cost Increase (Decrease)	5,000
Investment, Identifier [Axis]: Other changes to investments, Seybert’s Billiards Corporation OID amortization and interest conversion
Schedule of Investments [Line Items]
Cost Increase (Decrease)	125,569
Investment, Identifier [Axis]: Total of investments repaid, sold, liquidated or converted
Schedule of Investments [Line Items]
Cost Increase (Decrease)	(8,944,934)
Realized Gains (Loss)	1,051,079
Investment, Identifier [Axis]: Total of new investments
Schedule of Investments [Line Items]
Cost Increase (Decrease)	20,347,522
Investment, Identifier [Axis]: Total of other changes to investments
Schedule of Investments [Line Items]
Cost Increase (Decrease)	$ 1,246,781