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Stellus Capital Investment unit receives approval for SBIC license

Stellus Capital Investment Corp. unit Stellus Capital SBIC II LP received approval for a license from the U.S. Small Business Administration to operate as a small-business investment company.

This is the second SBIC license granted to Stellus Capital Investment through its SBIC subsidiaries. The license will allow Stellus Capital SBIC II LP to issue SBA-guaranteed debentures, subject to the issuance of a capital commitment by the SBA and customary procedures.

Under current statutes and regulations, Stellus Capital SBIC II LP can borrow up to a maximum of $175 million in SBA-guaranteed debentures, subject to required capitalization of the SBIC subsidiary and other requirements.