Rand Capital Secures $25 Million Senior Secured Credit Facility to Support Future Investments
Rand Capital Corporation (Nasdaq: RAND) (Rand or the Company), a business development company providing alternative financing for lower middle market companies, announced the closing of a $25 million senior secured revolving credit facility.
- Rand Capital Corporation (Nasdaq: RAND) (Rand or the Company), a business development company providing alternative financing for lower middle market companies, announced the closing of a $25 million senior secured revolving credit facility.
- This new senior secured credit facility was provided by M&T Bank.
- The new senior secured credit facility provides for a 5 year term through 2027, at an interest rate calculated using SOFR plus 3.5%.
- Rand Capital (Nasdaq: RAND) is an externally-managed business development company (BDC).