Trinity Capital announced conditional approval from the U.S. Small Business Administration ("SBA") to submit an application to obtain a Small Business Investment Company ("SBIC") license. The conditional approval reflects Trinity Capital's long-standing partnership with the SBA's Office of Investment and Innovation to support growth-oriented businesses across the United States, in line with its strategy. Previously, the Firm's predecessor entities successfully deployed $734 million through two SBIC funds.   

"Trinity Capital is extremely pleased to receive this conditional approval, and we look forward to building on our successful history deploying capital within the SBA program," said Kyle Brown, Chief Executive Officer. "This important step furthers our focus on expanding sources of third-party capital managed by our Registered Investment Advisor ("RIA") subsidiary, all of which is accretive to our platform and public shareholders."

The SBA's Green Light letter enables Trinity Capital to submit an application for an SBIC license. As an SBIC, Trinity Capital would be able to apply for up to $175 million of SBA-guaranteed debentures. Access to the SBA-guaranteed debentures is expected to supplement the Firm's capitalization and broaden its suite of private strategies under its RIA, adding scale to its robust investment platform.

Receipt of the conditional approval from the SBA is an invitation to submit a full SBIC license application and does not assure the applicant final approval for an SBIC license. Trinity Capital has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive a license, should one be granted.