Trinity Capital Receives Conditional Approval for SBIC License Application, Potentially Unlocking $175M in SBA-Guaranteed Debentures

Trinity Capital Inc. (TRIN) received conditional approval from the SBA to submit an SBIC license application, which could grant access to up to $175 million in SBA-guaranteed debentures. The firm has a proven track record, having deployed $734 million through SBIC funds in the past. This strategic opportunity aligns with Trinity's objective of scaling its investment platform without diluting shareholder equity.

Phoenix, July 2, 2025 — Trinity Capital Inc. (TRIN), a leading alternative asset manager, has received conditional approval from the U.S. Small Business Administration (SBA) to submit an application for a Small Business Investment Company (SBIC) license. This development is a significant milestone for the firm, which has a proven track record of deploying capital within the SBA program.

The conditional approval reflects Trinity Capital's long-standing partnership with the SBA's Office of Investment and Innovation. Previously, the firm's predecessor entities successfully deployed $734 million through two SBIC funds [1]. The SBA's Green Light letter enables Trinity Capital to submit a full SBIC license application, which, if approved, would grant access to up to $175 million in SBA-guaranteed debentures.

Kyle Brown, Chief Executive Officer of Trinity Capital, expressed his enthusiasm about this development: "We are extremely pleased to receive this conditional approval and look forward to building on our successful history deploying capital within the SBA program. This important step further enhances our focus on expanding sources of third-party capital managed by our Registered Investment Advisor (RIA) subsidiary, all of which is accretive to our platform and public shareholders" [2].

As an SBIC, Trinity Capital would be able to apply for SBA-guaranteed debentures, which are expected to supplement the firm's capitalization and broaden its suite of private strategies under its RIA. This addition would significantly scale up its robust investment platform.

It is important to note that the receipt of the conditional approval from the SBA is an invitation to submit a full SBIC license application but does not assure final approval. Trinity Capital has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive a license, should one be granted [3].

Trinity Capital Inc. is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. The firm sources and structures investments in well-capitalized growth-oriented companies, operating across five distinct lending verticals: Sponsor Finance, Equipment Finance, Tech Lending, Asset-Based Lending, and Life Sciences. With over $4.3 billion deployed across over 400 investments since inception in 2008 (as of March 31, 2025), Trinity Capital has established itself as a trusted partner for innovative companies seeking tailored debt solutions [4].

References:
[1] https://ir.trinitycapital.com/news-releases/news-release-details/trinity-capital-inc-receives-conditional-approval-green-light
[2] https://www.marketscreener.com/quote/stock/TRINITY-CAPITAL-INC-118392354/news/Trinity-Capital-Inc-Receives-Conditional-Approval-via-Green-Light-Letter-to-Submit-an-SBIC-License-50511637/
[3] https://www.prnewswire.com/news-releases/trinity-capital-inc-receives-conditional-approval-via-green-light-letter-to-submit-an-sbic-license-application-302504810.html
[4] https://seekingalpha.com/article/4801052-trinity-capital-yield-hunting-part-29-7-percent-plus