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Main Street Capital applies for 3rd SBIC license

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Main Street Capital applies for 3rd SBIC license

Main Street CapitalCorp. on March 29 announced that the U.S. Small Business Administrationhas issued a "green light" or "go forth" letter inviting thecompany to continue its application process to obtain a license to form and operatea third Small Business Investment Company subsidiary.

Main Street has completed and submitted its application to theSBA.

The company said the license, if approved, could provide it withan incremental source of long-term capital through the use of SBA debentures underthe recently expanded maximum amount of SBA-guaranteed debentures that affiliatedSBIC funds can have outstanding, which was increased to $350.0 million from $225.0million, as a result of the 2016 omnibus spending bill approved by Congress andsigned into law by the president in December 2015.