Garrison Capital SBIC, a wholly-owned subsidiary of business development company Garrison Capital (NASDAQ:GARS), has received final approval for a license from the United States Small Business Administration to operate as a Small Business Investment Company.
“We are very pleased to have received approval for an SBIC license for Garrison Capital and we would like to thank everyone at the SBA who diligently worked on our application and ultimately supported our approval,” said Brian Chase, Chief Financial Officer of the company. “The SBIC will allow us to significantly expand our balance sheet and provide the company with an opportunity to increase its return on equity to shareholders.”
Garrison Capital is a business development company that invests in loans to US based middle-market companies. The company is advised by Garrison Capital Advisers, an affiliate of Garrison Investment Group, an alternative investment and asset management firm that invests in the debt of middle-market companies, primarily in the areas of corporate finance, real estate finance and structured finance. Garrison Investment Group was founded in 2007 and is headquartered in New York (www.garrisoncapitalbdc.com) (www.garrisoninv.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-16-15