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TCP Capital Receives Approval for Subsidiary’s SBIC License

April 03, 2014, 07:38 AM
Filed Under: Industry News

TCP Capital Corp., a business development company ("BDC"), today announced that its wholly-owned subsidiary, TCPC SBIC, LP, has received final committee approval for a license from the United States Small Business Administration (the “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 Corp. “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.”

TCP Capital Corp. is a specialty finance company focused on performing credit lending to middle-market companies with established market positions. TCPC focuses on companies with differentiated products and strong regional or national operations and where it has deep industry knowledge and expertise. TCPC’s investment objective is to seek to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a leading alternative investment manager.

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