Main Street Capital ( MAIN ) said the U.S. Small Business Administration has given the company the go-ahead to apply for a license to form and operate a third Small Business Investment Company subsidiary.
The investment firm said that if the license is approved, it could provide it with an incremental source of "attractive long-term capital through the use of SBA debentures under the recently expanded maximum amount of SBA-guaranteed debentures that affiliated SBIC funds can have outstanding."
The company noted that there is no guarantee it will receive the license.
MAIN trades in the upper half of the 52-week range between $24.21 and $33.15. It was inactive in recent pre-market trade.
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