TCP Capital announced that its wholly-owned subsidiary, TCPC SBIC, has received final committee approval for a license from the U.S. Small Business Administration (SBA) to operate as a small business investment company (SBIC). TCPC expects that the SBIC license will be issued following final action by the SBA Administrator.
“We are very pleased to have received final committee approval for an SBIC license and we look forward to collaborating with the SBA, which plays an important role in providing loans to small businesses,” said Howard Levkowitz, chairman and CEO of TCP Capital. “We are also pleased to be in a position to access additional attractive long-term financing at a fixed rate in connection with the issuing of the license. We have a healthy pipeline of deal flow and, with this expanded financing capacity, we are well positioned to continue to invest in attractive companies in need of growth capital.”