Gladstone Investment Corporation increased its borrowing capacity in its line of credit by $35 million to $105 million in aggregate with the addition of two new lenders. Through Gladstone Investment's wholly-owned subsidiary, Gladstone Business Investment, LLC, the company is a party to a fifth amended and restated credit agreement, dated as of April 30, 2013, with Key Equipment Finance, Inc, as administrative agent, lead arranger and a lender and Branch Banking and Trust Company, as a lender and managing agent, originally providing for a 3-year $70 million credit facility.
On June 12, 2013, the company increased its borrowing capacity under the credit agreement from $70 million to $105 million by adding two new lenders, Alostar Business Credit and Everbank Commercial Finance, Inc. Subject to certain terms and conditions, the Credit Facility may further be expanded up to $200 million through the addition of other lenders to the facility.
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations.