Main Street Capital CEO Vincent D. Foster Participates in U.S. Senate Roundtable to Discuss Small Business Investment Companies
A Spotlight on Small Business Investment Companies and their role in the Entrepreneurship Ecosystem
HOUSTON, March 27, 2012 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that Vincent D. Foster, Main Street's chairman and chief executive officer, participated in a U.S. Senate roundtable discussion on March 22, 2012 regarding the Small Business Investment Company ("SBIC") program and its role in the entrepreneurship ecosystem. Main Street operates two wholly owned investment funds that are licensed as SBICs by the U.S. Small Business Administration ("SBA"), and Main Street was recently named the 2011 SBIC of the Year by the SBA.
The roundtable, entitled "A Spotlight on Small Business Investment Companies and Their Role in the Entrepreneurship Ecosystem", was held as part of Senate discussions regarding recent proposed legislation introduced by Senators Mary L. Landrieu, D-Louisiana, and Olympia Snowe, R-Maine, Chair and Ranking Member, respectively, of the Senate Committee on Small Business and Entrepreneurship. The proposed legislation would modify the SBIC program to raise the amount of SBIC debt the SBA can guarantee from $3 billion to $4 billion and increase the total SBIC leverage capacity available for affiliated SBIC funds from the current cap of $225 million. Chair Senator Landrieu led the committee in a roundtable with federal officials, SBIC fund managers and business owners to discuss these increases and potential additional modifications to the SBIC program. A link to a webcast of Mr. Foster's participation in the roundtable discussions can be found at http://ir.mainstcapital.com/events.cfm.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily 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. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are in middle market businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street Capital Corporation
Dwayne L. Hyzak, CFO and Senior Managing Director
SOURCE Main Street Capital Corporation
Released March 27, 2012