$REFI
Chicago Atlantic Real Estate Finance, Inc. Stock $refi

$refi Overview Financials Valuation SEC Filings Company Website

2023 Q1 Form 10-K Financial Statement

#000121390023018678 Filed on March 09, 2023

Income Statement

Concept	2023 Q1	2022 Q4	2022
Revenue	$14.91M	$15.99M	$48.86M
YoY Change	51.62%	176.74%	341.15%
Cost Of Revenue	$1.618M	$1.231M	$2.614M
YoY Change	2139.24%
Gross Profit	$14.91M	$14.76M	$48.86M
YoY Change	52.74%
Gross Profit Margin	100.0%	92.3%	100.0%
Selling, General & Admin	$20.27M	$5.023M	$12.68M
YoY Change	964.02%	327.98%	967.8%
% of Gross Profit	135.99%	34.03%	25.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$4.217M	$7.507M	$16.57M
YoY Change	115.48%	442.01%	1002.27%
Operating Profit	$10.69M	$7.256M	$32.29M
YoY Change	37.01%
Interest Expense	$1.441M		$2.024M
YoY Change			-2768.47%
% of Operating Profit	13.48%		6.27%
Other Income/Expense, Net
YoY Change
Pretax Income	$10.69M	$7.256M	$32.29M
YoY Change	37.01%	66.4%	240.05%
Income Tax		$0.00
% Of Pretax Income		0.0%
Net Earnings	$10.69M	$7.256M	$32.29M
YoY Change	37.01%	66.4%	240.05%
Net Earnings / Revenue	71.72%	45.37%	66.1%
Basic Earnings Per Share	$0.60		$1.83
Diluted Earnings Per Share	$0.60	$0.41	$1.82
COMMON SHARES
Basic Shares Outstanding	18.08M shares	17.66M shares	17.65M shares
Diluted Shares Outstanding	17.96M shares		17.75M shares

Balance Sheet

Concept	2023 Q1	2022 Q4	2022
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.641M	$5.716M	$5.716M
YoY Change	-23.65%	-92.88%	-92.88%
Cash & Equivalents	$4.641M	$5.716M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory		$1.204M
Prepaid Expenses
Receivables
Other Receivables		$100.4K
Total Short-Term Assets	$6.547M	$6.734M	$6.734M
YoY Change	7.43%	-91.61%	-91.61%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	-$4.052M	-$3.941M	-$3.941M
YoY Change	-609.2%	-554.01%	-554.01%
Total Long-Term Assets	$316.3M	$336.5M	$336.5M
YoY Change	13.05%	70.04%	70.04%
TOTAL ASSETS
Total Short-Term Assets	$6.547M	$6.734M	$6.734M
Total Long-Term Assets	$316.3M	$336.5M	$336.5M
Total Assets	$322.9M	$343.3M	$343.3M
YoY Change	12.93%	23.4%	23.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$962.2K	$1.058M	$1.058M
YoY Change	68.26%	397.03%	397.03%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$313.7M	$336.3M
YoY Change		67.86%
Total Short-Term Liabilities	$11.77M	$17.97M	$17.97M
YoY Change	40.61%	217.76%	217.76%
LONG-TERM LIABILITIES
Long-Term Debt	$37.50M	$58.00M	$58.00M
YoY Change
Other Long-Term Liabilities	$1.490M	$3.266M	$3.266M
YoY Change	-81.73%	-61.29%	-61.29%
Total Long-Term Liabilities	$38.99M	$61.27M	$61.27M
YoY Change	378.15%	626.19%	626.19%
TOTAL LIABILITIES
Total Short-Term Liabilities	$11.77M	$17.97M	$17.97M
Total Long-Term Liabilities	$38.99M	$61.27M	$61.27M
Total Liabilities	$50.76M	$79.24M	$79.24M
YoY Change	207.19%	462.27%	462.27%
SHAREHOLDERS EQUITY
Retained Earnings	-$2.983M	-$5.140M
YoY Change		2794.62%
Common Stock	$180.9K	$176.9K
YoY Change		1.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$272.1M	$264.0M	$264.0M
YoY Change
Total Liabilities & Shareholders Equity	$322.9M	$343.3M	$343.3M
YoY Change	12.93%	23.4%	23.4%

Cashflow Statement

Concept	2023 Q1	2022 Q4	2022
OPERATING ACTIVITIES
Net Income	$10.69M	$7.256M	$32.29M
YoY Change	37.01%	66.4%	240.05%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	$1.702M	$4.627M	$17.01M
YoY Change	-43.93%	-183.04%	154.97%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$25.32M	-$4.519M	-$125.2M
YoY Change	-132.8%	-91.07%	-13.76%
Cash From Investing Activities	$25.32M	-$4.519M	-$125.2M
YoY Change	-132.8%	-91.07%	-13.76%
FINANCING ACTIVITIES
Cash Dividend Paid	$13.49M		$28.17M
YoY Change	198.87%
Common Stock Issuance & Retirement, Net			$4.506M
YoY Change			-98.01%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$28.09M	-3.724M	$33.71M
YoY Change	91680.06%	-102.91%	-84.6%
NET CHANGE
Cash From Operating Activities	$1.702M	4.627M	$17.01M
Cash From Investing Activities	$25.32M	-4.519M	-$125.2M
Cash From Financing Activities	-$28.09M	-3.724M	$33.71M
Net Change In Cash	-$1.075M	-3.616M	-$74.53M
YoY Change	-98.55%	-105.05%	-192.88%
FREE CASH FLOW
Cash From Operating Activities	$1.702M	$4.627M	$17.01M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022	dei	Document Type DocumentType	10-K
CY2022	dei	Document Annual Report DocumentAnnualReport	true
CY2022	dei	Document Period End Date DocumentPeriodEndDate	2022-12-31
CY2022	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022	dei	Document Transition Report DocumentTransitionReport	false
CY2022	dei	Entity File Number EntityFileNumber	001-41123
CY2022	dei	Entity Registrant Name EntityRegistrantName	CHICAGO ATLANTIC REAL ESTATE FINANCE, INC.
CY2022	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	MD
CY2022	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	86-3125132
CY2022	dei	Entity Address Address Line1 EntityAddressAddressLine1	1680 Michigan Avenue
CY2022	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 700
CY2022	dei	Entity Address City Or Town EntityAddressCityOrTown	Miami Beach
CY2022	dei	Entity Address State Or Province EntityAddressStateOrProvince	FL
CY2022	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	33139
CY2022	dei	City Area Code CityAreaCode	(312)
CY2022	dei	Local Phone Number LocalPhoneNumber	809-7002
CY2022	dei	Security12b Title Security12bTitle	Common Stock, par value $0.01 per share
CY2022	dei	Trading Symbol TradingSymbol	REFI
CY2022	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2022	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2022	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2022	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022	dei	Entity Small Business EntitySmallBusiness	true
CY2022	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2022	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2022	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2022	dei	Entity Shell Company EntityShellCompany	false
CY2022Q2	dei	Entity Public Float EntityPublicFloat	264200000	usd
CY2023Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	18081731	shares
CY2022	dei	Auditor Firm AuditorFirmId	243
CY2022	dei	Auditor Name AuditorName	BDO USA, LLP
CY2022	dei	Auditor Location AuditorLocation	Chicago, Illinois
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CY2021Q4	refi	Loans Held For Investment LoansHeldForInvestment	196984566	usd
CY2022Q4	refi	Current Expected Credit Loss Reserve CurrentExpectedCreditLossReserve	-3940939	usd
CY2021Q4	refi	Current Expected Credit Loss Reserve CurrentExpectedCreditLossReserve	-134542	usd
CY2022Q4	us-gaap	Long Term Investments And Receivables Net LongTermInvestmentsAndReceivablesNet	335332599	usd
CY2021Q4	us-gaap	Long Term Investments And Receivables Net LongTermInvestmentsAndReceivablesNet	196850024	usd
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	5715827	usd
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	80248526	usd
CY2022Q4	us-gaap	Interest Receivable InterestReceivable	1204412	usd
CY2021Q4	us-gaap	Interest Receivable InterestReceivable	197735	usd
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CY2021Q4	us-gaap	Other Receivables OtherReceivables	874170	usd
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CY2021Q4	us-gaap	Assets Assets	278170455	usd
CY2022Q4	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	58000000	usd
CY2022Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	13618591	usd
CY2021Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	4537924	usd
CY2022Q4	us-gaap	Management Fee Payable ManagementFeePayable	3295600	usd
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CY2022Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	1868193	usd
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CY2021Q4	us-gaap	Due To Related Parties Current And Noncurrent DueToRelatedPartiesCurrentAndNoncurrent	1902829	usd
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CY2021Q4	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	212887	usd
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CY2021Q4	us-gaap	Liabilities Liabilities	14092487	usd
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
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CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	17766936	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	17766936	shares
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CY2022Q4	us-gaap	Common Stock Value CommonStockValue	176859	usd
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CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.83
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CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.82
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CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	17653765	shares
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	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	6148	usd
CY2022	refi	Increase Decrease In Interest Reserve IncreaseDecreaseInInterestReserve	-13818194	usd
	refi	Increase Decrease In Interest Reserve IncreaseDecreaseInInterestReserve	-2587249	usd
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	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	199480	usd
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	us-gaap	Proceeds From Sale Of Loans Held For Investment ProceedsFromSaleOfLoansHeldForInvestment	4872232	usd
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	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	1150877	usd
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	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	218800765	usd
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CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	80248526	usd
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	us-gaap	Stock Issued1 StockIssued1	39345197	usd
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	refi	Oid Withheldfrom Funding Of Loans OIDWithheldfromFundingOfLoans	3529406	usd
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	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	4537924	usd
CY2022	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	1660993	usd
CY2021Q2	refi	Aggregate Amortized Cost AggregateAmortizedCost	9800000	usd
CY2022	us-gaap	Intercompany Loans Description IntercompanyLoansDescription	Subsequently, the Company also acquired loans at amortized cost of $22,516,005 from affiliates of the Manager in exchange for issuance of 1,446,473 shares of common stock, as well as cash contributions of $125,517,500 to fund loans in exchange for 8,067,010 shares of common stock. Additionally, the Company acquired 100% of CAL from an affiliate of the Manager in exchange for the issuance of 481,259 shares of common stock.
CY2021Q4	refi	Aggregate Sold Shares In Common Stock AggregateSoldSharesInCommonStock	468750	shares
CY2021Q4	refi	Offering Price Per Share OfferingPricePerShare	16
CY2021Q4	us-gaap	Stock Issued During Period Shares Restricted Stock Award Gross StockIssuedDuringPeriodSharesRestrictedStockAwardGross	98440	shares
CY2022Q1	refi	Underwriters Shares Purchase UnderwritersSharesPurchase	302800	shares
CY2022Q1	us-gaap	Temporary Equity Redemption Price Per Share TemporaryEquityRedemptionPricePerShare	16
CY2022Q1	refi	Additional Gross Proceeds AdditionalGrossProceeds	4844800	usd
CY2022Q1	refi	Additional Net Proceeds AdditionalNetProceeds	4505664	usd
CY2022Q1	refi	Under Commissions UnderCommissions	339136	usd
CY2022	us-gaap	Use Of Estimates UseOfEstimates	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of Estimates in the Preparation of Consolidated Financial Statements</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates. Significant estimates include the provision for current expected credit losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain prior period amounts have been reclassified to conform to the current period presentation. Interest expense was previously presented as an operating expense and has been reclassified as a reduction to net interest income on the consolidated statements of operations. General and administrative expense reimbursements due to the Manager, which were previously included in the line item management and incentive fees payable, have been reclassified into related party payables in the consolidated balance sheets. In addition, the general administrative expense reimbursements incurred by the Manager, which were previously included in the line item management and incentive fees, net, have been reclassified into general and administrative expense in the consolidated statements of operations Further, the line items other receivables and other assets as of December 31, 2021 have been reclassified to the line item other receivables and assets, net to conform to the current year presentation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These reclassifications do not result in any changes to previously reported total assets, stockholder’s equity, and net income.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p>
CY2022	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Concentration of Credit Risks </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Financial instruments that may subject the Company to concentrations of credit risk consist primarily of cash , loans and interest receivable. The Company and the Manager seek to manage this credit risk relating to cash by monitoring the financial stability of the financial institutions and their ability to continue in business for the foreseeable future. Concentration of credit risk relating to loans and interest receivable are managed by the Company and the Manager through robust portfolio monitoring and performing due diligence prior to origination or acquisition and through the use of non-recourse financing, when and where available and appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022	refi	Stockholders Percentage StockholdersPercentage	0.90	pure
CY2022	refi	Distributes Percentage DistributesPercentage	1	pure
CY2022Q4	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	100392	usd
CY2021Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	0	usd
CY2022	refi	Percentage Of Ordinary Income PercentageOfOrdinaryIncome	0.85	pure
CY2022	refi	Percentage Of Capital Gain Net Income PercentageOfCapitalGainNetIncome	0.95	pure
CY2022	refi	Percentage Of Nondeductible Excise Tax Equal PercentageOfNondeductibleExciseTaxEqual	0.04	pure
CY2022	refi	Percentage Of Distribution Requirement PercentageOfDistributionRequirement	0.90	pure
CY2022	refi	Percentage Of Excise Tax PercentageOfExciseTax	0.04	pure
CY2022Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	805596	usd
CY2021	us-gaap	Loan Portfolio Expense LoanPortfolioExpense	21	usd
CY2021Q4	us-gaap	Debt Instrument Annual Principal Payment DebtInstrumentAnnualPrincipalPayment	200600000	usd
CY2021Q4	us-gaap	Customer Funds CustomerFunds	174400000	usd
CY2022Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	0	usd
CY2021Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	40200000	usd
CY2021Q4	refi	Portfolio Percentage PortfolioPercentage	0.534	pure
CY2022	refi	Remaining Portfolio Percentage RemainingPortfolioPercentage	0.169	pure
CY2021	refi	Remaining Portfolio Percentage RemainingPortfolioPercentage	0.464	pure
CY2022	refi	Total Loans Held At Carrying Value Original Issue Discount TotalLoansHeldAtCarryingValueOriginalIssueDiscount	-3755796	usd
CY2021	refi	Total Loans Held At Carrying Value Original Issue Discount TotalLoansHeldAtCarryingValueOriginalIssueDiscount	-3647490	usd
CY2022	refi	Outstanding Principal OutstandingPrincipal	343029334	usd
CY2022	refi	Original Issue Premium Discount OriginalIssuePremiumDiscount	-3755796	usd
CY2022Q4	refi	Debt Instrument Carrying Value DebtInstrumentCarryingValue	335332599	usd
CY2022Q4	refi	Loan Interest Rate Stated Percentage LoanInterestRateStatedPercentage	0.39	pure
CY2022Q4	us-gaap	Debt Instrument Interest Rate Stated Percentage DebtInstrumentInterestRateStatedPercentage	0.02	pure
CY2022Q4	us-gaap	Additional Collateral Aggregate Fair Value AdditionalCollateralAggregateFairValue	329237824	usd
CY2021Q4	us-gaap	Additional Collateral Aggregate Fair Value AdditionalCollateralAggregateFairValue	197901779	usd
CY2022Q4	us-gaap	Held To Maturity Securities Accumulated Unrecognized Holding Gain HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain	10035714	usd
CY2021Q4	us-gaap	Held To Maturity Securities Accumulated Unrecognized Holding Gain HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain	917213	usd
CY2021Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	147949	usd
CY2021Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	147949	usd
CY2022	us-gaap	Provision For Other Credit Losses ProvisionForOtherCreditLosses	3887405	usd
CY2022Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	4035354	usd
CY2022Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	329237824	usd
CY2022	refi	Primary Valuation Techniques PrimaryValuationTechniques	Discounted cash flow
CY2022	us-gaap	Fair Value Measurements Sensitivity Analysis Description FairValueMeasurementsSensitivityAnalysisDescription	Discount rate
CY2022Q4	us-gaap	Debt Weighted Average Interest Rate DebtWeightedAverageInterestRate	0.1753	pure
CY2022Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	329237824	usd
CY2022Q4	refi	Risk Rating One RiskRatingOne	274406	usd
CY2021Q4	refi	Risk Rating One RiskRatingOne	167908805	usd
CY2022Q4	refi	Risk Rating Two RiskRatingTwo	212052863	usd
CY2021Q4	refi	Risk Rating Two RiskRatingTwo	29075761	usd
CY2022Q4	refi	Risk Rating Three RiskRatingThree	113546557	usd
CY2022Q4	refi	Risk Rating Four RiskRatingFour	13399712	usd
CY2022Q4	refi	Risk Rating RiskRating	339273538	usd
CY2021Q4	refi	Risk Rating RiskRating	196984566	usd
	us-gaap	Provision For Other Credit Losses ProvisionForOtherCreditLosses	147949	usd
CY2022Q4	us-gaap	Interest Receivable Noncurrent InterestReceivableNoncurrent	1204412	usd
CY2021Q4	us-gaap	Interest Receivable Noncurrent InterestReceivableNoncurrent	197735	usd
CY2022Q4	us-gaap	Accrued Investment Income Receivable AccruedInvestmentIncomeReceivable	1203330	usd
CY2021Q4	us-gaap	Accrued Investment Income Receivable AccruedInvestmentIncomeReceivable	193790	usd
CY2022Q4	us-gaap	Interest Receivable Current InterestReceivableCurrent	1082	usd
CY2021Q4	refi	Unused Fee Receivable UnusedFeeReceivable	3945	usd
CY2022Q4	us-gaap	Interest Receivable InterestReceivable	1204412	usd
CY2021Q4	us-gaap	Interest Receivable InterestReceivable	197735	usd
CY2022	refi	Senior Term Loan SeniorTermLoan	1204412	usd
CY2022	refi	Interest Receivable Total InterestReceivableTotal	1204412	usd
CY2021Q4	refi	Interest Reserves InterestReserves	6636553	usd
CY2022	refi	New Reserves NewReserves	9049834	usd
CY2021	refi	New Reserves NewReserves	9223802	usd
CY2022	refi	Reserve Disbursed ReserveDisbursed	-13818194	usd
CY2021	refi	Reserve Disbursed ReserveDisbursed	-2587249	usd
CY2022Q4	refi	Interest Reserves InterestReserves	1868193	usd
CY2021Q4	refi	Interest Reserves InterestReserves	6636553	usd
CY2021Q2	us-gaap	Debt Instrument Unused Borrowing Capacity Amount DebtInstrumentUnusedBorrowingCapacityAmount	10000000	usd
CY2021Q2	us-gaap	Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	100000	usd
CY2021Q4	us-gaap	Debt Instrument Interest Rate Terms DebtInstrumentInterestRateTerms	On December 16, 2021, CAL entered into an amended and restated Revolving Loan agreement (the “First Amendment and Restatement”). The First Amendment and Restatement increased the loan commitment from $10,000,000 to $45,000,000 and decreased the interest rate, from the greater of the (1) Prime Rate plus 1.00% and (2) 4.75% to the greater of (1) the Prime Rate plus the applicable margin and (2) 3.25%. The applicable margin is derived from a floating rate grid based upon the ratio of debt to equity of CAL and increases from 0% at a ratio of 0.25 to 1 to 1.25% at a ratio of 1.5 to 1. The First Amendment and Restatement also extended the maturity date from February 12, 2023 to the earlier of (i) December 16, 2023 and (ii) the date on which the Revolving Loan is terminated pursuant to the terms of the Revolving Loan agreement.
CY2022	us-gaap	Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	859500	usd
CY2022Q2	us-gaap	Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	177261	usd
CY2022Q4	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	323779	usd
CY2022Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	805596	usd
CY2021Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	868022	usd
CY2022Q4	us-gaap	Debt Instrument Unused Borrowing Capacity Amount DebtInstrumentUnusedBorrowingCapacityAmount	58000000	usd
CY2022Q4	us-gaap	Debt Instrument Interest Rate Effective Percentage DebtInstrumentInterestRateEffectivePercentage	0.0775	pure
CY2022	us-gaap	Line Of Credit Facility Unused Capacity Commitment Fee Percentage LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage	0.0025	pure
CY2022Q4	us-gaap	Financing Receivable Revolving Converted To Term Loan FinancingReceivableRevolvingConvertedToTermLoan	34500000	usd
CY2022	us-gaap	Long Term Debt Description LongTermDebtDescription	Additionally, the Company must comply with certain financial covenants including: (1) maximum capital expenditures of $150,000, (2) maintaining a debt service coverage ratio greater than 1.35 to 1, and (3) maintaining a leverage ratio less than 1.50 to 1. As of December 31, 2022, we were in compliance with all financial covenants with respect to the Revolving Loan.
CY2022	us-gaap	Interest Expense InterestExpense	2024299	usd
CY2022	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	26375	usd
CY2022	refi	Amortization Of Debt Issue Costs1 AmortizationOfDebtIssueCosts1	563464	usd
	refi	Amortization Of Debt Issue Costs1 AmortizationOfDebtIssueCosts1	75861	usd
CY2022	us-gaap	Interest Expense Debt InterestExpenseDebt	2614138	usd
	us-gaap	Interest Expense Debt InterestExpenseDebt	75861	usd
CY2022	refi	Interest Percentage InterestPercentage	0.00375	pure
CY2022	refi	Equity Percentage EquityPercentage	0.50	pure
CY2022	us-gaap-sup	Increase Decrease In Management And Incentive Fees Payable IncreaseDecreaseInManagementAndIncentiveFeesPayable	1291451	usd
CY2021	us-gaap-sup	Increase Decrease In Management And Incentive Fees Payable IncreaseDecreaseInManagementAndIncentiveFeesPayable	187028	usd
CY2022	us-gaap	Payment For Incentive Fee PaymentForIncentiveFee	3778812	usd
CY2021Q4	refi	Management Incurred Expenses ManagementIncurredExpenses	116464	usd
CY2022	us-gaap	Property Management Fee Revenue PropertyManagementFeeRevenue	4074725	usd
	us-gaap	Property Management Fee Revenue PropertyManagementFeeRevenue	989322	usd
CY2022	refi	Other Fees Earned And Paid To The Manager OtherFeesEarnedAndPaidToTheManager	-1291451	usd
	refi	Other Fees Earned And Paid To The Manager OtherFeesEarnedAndPaidToTheManager	-187028	usd
CY2022	refi	Base Management Fees Net BaseManagementFeesNet	2783274	usd
	refi	Base Management Fees Net BaseManagementFeesNet	802294	usd
CY2022	us-gaap	Payments To Acquire Businesses And Interest In Affiliates PaymentsToAcquireBusinessesAndInterestInAffiliates	3778813	usd
CY2022	refi	Management And Incentive Fees Payable ManagementAndIncentiveFeesPayable	6562087	usd
	refi	Management And Incentive Fees Payable ManagementAndIncentiveFeesPayable	802294	usd
CY2022	us-gaap	Other General And Administrative Expense OtherGeneralAndAdministrativeExpense	3137861	usd
	us-gaap	Other General And Administrative Expense OtherGeneralAndAdministrativeExpense	102829	usd
CY2022	us-gaap	Affiliate Costs AffiliateCosts	9699948	usd
	us-gaap	Affiliate Costs AffiliateCosts	905123	usd
CY2022Q4	us-gaap	Accounts Payable Related Parties Current And Noncurrent AccountsPayableRelatedPartiesCurrentAndNoncurrent	5000000	usd
CY2021Q4	us-gaap	Accounts Payable Related Parties Current And Noncurrent AccountsPayableRelatedPartiesCurrentAndNoncurrent	900000	usd
CY2021Q4	us-gaap	Due To Employees Current And Noncurrent DueToEmployeesCurrentAndNoncurrent	20000000	usd
CY2021Q4	us-gaap	Loans Assumed1 LoansAssumed1	14000000	usd
CY2021Q4	us-gaap	Federal Home Loan Bank Advances Commitment Fees FederalHomeLoanBankAdvancesCommitmentFees	5000000	usd
CY2021Q4	us-gaap	Gain Loss On Sales Of Loans Net GainLossOnSalesOfLoansNet	5000000	usd
CY2021Q4	us-gaap	Debt Securities Available For Sale Excluding Accrued Interest Current DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent	4900000	usd
CY2022	refi	Share Purchase SharePurchase	1093750	shares
CY2022	refi	Aggregate Purchase Price AggregatePurchasePrice	17500000	usd
CY2021	us-gaap	Related Party Tax Expense Due To Affiliates Deferred RelatedPartyTaxExpenseDueToAffiliatesDeferred	1800000	usd
CY2022Q3	us-gaap	Defined Benefit Plan Funded Status Of Plan DefinedBenefitPlanFundedStatusOfPlan	10000000	usd
CY2022	us-gaap	Amortization Of Acquisition Costs AmortizationOfAcquisitionCosts	9802024	usd
CY2022Q4	us-gaap	Cash Cash	97976	usd
CY2022	us-gaap	Conversion Of Stock Shares Issued1 ConversionOfStockSharesIssued1	635194	shares
CY2022	us-gaap	Related Party Transaction Description Of Transaction RelatedPartyTransactionDescriptionOfTransaction	Subsequently, the Company also acquired loans at amortized cost of $22,516,005 from affiliates of the Manager in exchange for issuance of 1,446,473 shares of common stock, as well as cash contributions of $125,517,500 to fund loans in exchange for 8,067,010 shares of common stock.
CY2022	us-gaap	Conversion Of Stock Shares Converted1 ConversionOfStockSharesConverted1	481259	shares
CY2022Q4	us-gaap	Loans Payable Current LoansPayableCurrent	305900000	usd
CY2021Q4	us-gaap	Loans Payable Current LoansPayableCurrent	10700000	usd
CY2021Q4	us-gaap	Due From Affiliate Noncurrent DueFromAffiliateNoncurrent	10000000	usd
CY2021Q4	us-gaap	Amortization Of Acquisition Costs AmortizationOfAcquisitionCosts	9740000	usd
CY2022Q4	us-gaap	Other Commitment OtherCommitment	351367706	usd
CY2021Q4	us-gaap	Other Commitment OtherCommitment	235063593	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	336323706	usd
CY2021Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	200359026	usd
CY2022Q4	us-gaap	Unused Commitments To Extend Credit UnusedCommitmentsToExtendCredit	15044000	usd
CY2021Q4	us-gaap	Unused Commitments To Extend Credit UnusedCommitmentsToExtendCredit	34704567	usd
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.82
CY2022Q4	refi	Commitments Total CommitmentsTotal	73044000	usd
CY2022Q4	us-gaap	Other Commitment Due In Next Twelve Months OtherCommitmentDueInNextTwelveMonths	60400000000000	usd
CY2022Q4	us-gaap	Other Commitment Due In Second Year OtherCommitmentDueInSecondYear	7000000000000	usd
CY2022Q4	us-gaap	Other Commitment Due In Third Year OtherCommitmentDueInThirdYear	1644000000000	usd
CY2022Q4	us-gaap	Other Commitment Due In Fourth Year OtherCommitmentDueInFourthYear	4000000000000	usd
	refi	Common Stock Capital Share Reserved For Future Issuance CommonStockCapitalShareReservedForFutureIssuance	10636363	shares
CY2021Q4	refi	Common Stock Share Issued CommonStockShareIssued	6250000	shares
CY2021Q4	refi	Common Stock Per Share CommonStockPerShare	16
CY2021Q4	refi	Gross Proceeds From Ipo GrossProceedsFromIPO	100000000	usd
CY2021Q4	us-gaap	Investment Banking Advisory Brokerage And Underwriting Fees And Commissions InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions	7000000	usd
CY2021Q4	us-gaap	Royalty Expense RoyaltyExpense	1265877	usd
CY2021Q4	us-gaap	Proceeds From Debt Net Of Issuance Costs ProceedsFromDebtNetOfIssuanceCosts	91734123	usd
CY2021Q4	us-gaap	Shares Issued SharesIssued	468750	shares
CY2021Q4	us-gaap	Shares Issued Price Per Share SharesIssuedPricePerShare	16
CY2022Q1	refi	Gross Proceed GrossProceed	7500000	usd
CY2022Q1	us-gaap	Stock Issued During Period Shares Purchase Of Assets StockIssuedDuringPeriodSharesPurchaseOfAssets	302800	shares
CY2022Q1	us-gaap	Stock Issued During Period Value Purchase Of Assets StockIssuedDuringPeriodValuePurchaseOfAssets	16	usd
CY2022Q1	refi	Additional Gross Proceeds AdditionalGrossProceeds	4844800	usd
CY2022Q1	us-gaap	Proceeds From Debt Net Of Issuance Costs ProceedsFromDebtNetOfIssuanceCosts	4505664	usd
CY2022Q1	us-gaap	Investment Banking Advisory Brokerage And Underwriting Fees And Commissions InvestmentBankingAdvisoryBrokerageAndUnderwritingFeesAndCommissions	339136	usd
CY2021	refi	Restricted Common Stock Shares RestrictedCommonStockShares	98440	shares
CY2022Q4	us-gaap	Excess Stock Shares Issued ExcessStockSharesIssued	24880	shares
CY2021	refi	Issued And Outstanding Shares Percentage IssuedAndOutstandingSharesPercentage	0.085	pure
CY2022	refi	Issued And Outstanding Shares Percentage IssuedAndOutstandingSharesPercentage	0.085	pure
CY2022	us-gaap	Stock Issued During Period Shares Restricted Stock Award Forfeited StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited	14297	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	797881	usd
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested	422548	usd
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.47
CY2021Q4	refi	Risk Rating Three RiskRatingThree		usd
CY2021Q4	refi	Risk Rating Four RiskRatingFour		usd
CY2021Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares	98440	shares
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	16
CY2020Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares	98440	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	16
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	24880	shares
CY2022	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	15.07
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod	28039	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice	16
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	14297	shares
CY2022	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Other Share Increase Decrease In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOtherShareIncreaseDecreaseInPeriodWeightedAverageExercisePrice	16
CY2022Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares	80984	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	15.71
CY2021Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares	98440	shares
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	16
CY2022	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	435623	usd
CY2021	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	29611	usd
CY2022	refi	Unamortized Sharebased Compensation Expenses UnamortizedSharebasedCompensationExpenses	1300	usd
CY2021	refi	Unamortized Sharebased Compensation Expenses UnamortizedSharebasedCompensationExpenses	1600000	usd
CY2021Q4	us-gaap	Finance Lease Weighted Average Remaining Lease Term1 FinanceLeaseWeightedAverageRemainingLeaseTerm1	P2Y2M19D
CY2022	us-gaap	Net Income Loss From Discontinued Operations Available To Common Shareholders Basic NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic	32292477	usd
	us-gaap	Net Income Loss From Discontinued Operations Available To Common Shareholders Basic NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic	9496436	usd
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	17653765	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	6442865	shares
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	17746214	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	6450383	shares
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.83
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.47
CY2022Q4	refi	Risk Rating Five RiskRatingFive		usd
CY2021Q4	refi	Risk Rating Five RiskRatingFive		usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid		usd
CY2022	us-gaap	Interest Income Expense After Provision For Loan Loss InterestIncomeExpenseAfterProvisionForLoanLoss	0	usd
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Files In Submission

Name	View Source	Status
refi-20221231_cal.xml	Edgar Link	unprocessable
refi-20221231_def.xml	Edgar Link	unprocessable
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f10k2022ex23-1_chicagoatlan.htm	Edgar Link	pending
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refi-20221231.xsd	Edgar Link	pending
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refi-20221231_pre.xml	Edgar Link	unprocessable

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$REFI
Chicago Atlantic Real Estate Finance, Inc. Stock $refi

2023 Q1 Form 10-K Financial Statement

#000121390023018678 Filed on March 09, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$REFI Chicago Atlantic Real Estate Finance, Inc. Stock $refi

2023 Q1 Form 10-K Financial Statement

#000121390023018678 Filed on March 09, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$REFI
Chicago Atlantic Real Estate Finance, Inc. Stock $refi