Hercules Capital

The Company announced that the U.S. Small Business Administration (“SBA”) has approved its fourth Small Business Investment Company (“SBIC”) subsidiary, following the Company’s prior receipt of its “green light” letter to submit an application to obtain a fourth license to the SBA committee. Hercules’ fourth SBIC license is held by a subsidiary of the Company and provides access to additional growth capital of $175.0 million of long-term debentures, bringing Hercules’ combined borrowing capacity through the SBIC program to a total of $350.0 million of capital.

The SBA program has played an important role within Hercules’ funding strategy since receiving its first SBIC license in September 2006. Hercules received exemptive relief from the Securities and Exchange Commission that allows Hercules to exclude SBIC leverage from applicable asset coverage limits.

2024-07-17T00:00:00-04:00July 17th, 2024|

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