Main Street Capital Corporation announced that it has received a license from the U.S. Small Business Administration ("SBA") to operate a third Small Business Investment Company ("SBIC"). The third SBIC license provides Main Street with up to $125 million of additional attractive, long-term, fixed interest rate debt capital through the issuance of SBA-guaranteed debentures. The maximum amount of SBA-guaranteed debentures that affiliated SBIC funds can have outstanding was increased from $225 million to $350 million as a result of the 2016 omnibus spending bill approved by Congress and signed into law by the President in December 2015.   

"We are very pleased to have received approval for our third SBIC license, and we would like to thank everyone at the SBA who diligently worked on our application and supported our approval," said Vincent D. Foster, Chief Executive Officer of Main Street. "The third SBIC license is a significant achievement for Main Street and will contribute meaningfully to our long term growth and capital plans. In addition, the SBIC program, and the related SBIC debenture financing, aligns very well with our primary investment strategy of focusing on providing long-term debt and equity capital solutions to lower middle market companies."

Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.  Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors.  Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.