The SBIA reported the biannual pricing on a record $1.16 billion of Small Business Investment Companies debentures at an interest rate of 2.517%, the third lowest in the history of the program.
TCP Capital said its wholly-owned subsidiary, TCPC SBIC, received final committee approval for a license from the SBA to operate as a small business investment company.
F.N.B. Capital Partners’ Joseph Bute and Tyson Smith explain the rationale behind the formation of an SBIC and how partnering with an SBIC fund offers asset-based lenders a way to provide their customers with cash-flow financing beyond the underlying collateral.