What is a BDC?

A business development company is a closed-end investment company, created through the Investment Company Act of 1940, to promote capital investment to the U.S. middle market.

A BDC provides a permanent capital base for a continuous source of funding to middle market companies, enabling Overland to be a long-term partner and support the growth of our borrowers.

BDCs typically employ modest leverage to carry out their investment strategies. Most BDCs elect to be treated as a regulated investment company (“RIC”), which provides for pass-through tax treatment of net income. BDC dividend payments to shareholders are not subject to entity-level tax on distributed income. This flow-through treatment creates tax efficiency for investors. BDCs must distribute at least 90% of taxable income to shareholders.

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