Trinity Capital Inc. Receives Conditional Approval via Green Light Letter to Submit an SBIC License Application

Rhea-AI Summary

Trinity Capital (NASDAQ: TRIN) has received conditional approval from the U.S. Small Business Administration (SBA) to submit an application for a Small Business Investment Company (SBIC) license. The company's predecessor entities have previously deployed $734 million through two SBIC funds.

If approved, Trinity Capital could access up to $175 million in SBA-guaranteed debentures, expanding its third-party capital management capabilities through its Registered Investment Advisor subsidiary. The Green Light letter allows TRIN to proceed with the formal SBIC license application, though final approval is not guaranteed.

Positive

• Potential access to up to $175 million in SBA-guaranteed debentures
• Track record of successfully deploying $734 million through previous SBIC funds
• Opportunity to expand third-party capital management capabilities
• Additional source of funding could enhance platform scalability

Negative

• SBIC license approval is not guaranteed
• Timeline for potential license approval remains uncertain

PHOENIX, July 15, 2025 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) (the "Firm") is pleased to announce conditional approval from the U.S. Small Business Administration ("SBA") to submit an application to obtain a Small Business Investment Company ("SBIC") license. The conditional approval reflects Trinity Capital's long-standing partnership with the SBA's Office of Investment and Innovation to support growth-oriented businesses across the United States, in line with its strategy. Previously, the Firm's predecessor entities successfully deployed $734 million through two SBIC funds.¹

"Trinity Capital is extremely pleased to receive this conditional approval, and we look forward to building on our successful history deploying capital within the SBA program," said Kyle Brown, Chief Executive Officer. "This important step furthers 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."

The SBA's Green Light letter enables Trinity Capital to submit an application for an SBIC license. As an SBIC, Trinity Capital would be able to apply for up to $175 million of SBA-guaranteed debentures. Access to the SBA-guaranteed debentures is expected to supplement the Firm's capitalization and broaden its suite of private strategies under its RIA, adding scale to its robust investment platform.

Receipt of the conditional approval from the SBA is an invitation to submit a full SBIC license application and does not assure the applicant final approval for an SBIC license. 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.

About Trinity Capital Inc.

Trinity Capital Inc. (NASDAQ: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital 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. As a long-term, trusted partner for innovative companies seeking tailored debt solutions, Trinity Capital has deployed more than $4.3 billion across over 400 investments since inception in 2008 (As of March 31, 2025). Headquartered in Phoenix, Arizona, Trinity Capital's dedicated team is strategically located across the United States and Europe. For more information on Trinity Capital, please visit trinitycapital.com and stay connected to the latest activity via LinkedIn and X (@trincapital).

¹ Includes the impact of recycling of capital during the funds' investment period

View original content to download multimedia:https://www.prnewswire.com/news-releases/trinity-capital-inc-receives-conditional-approval-via-green-light-letter-to-submit-an-sbic-license-application-302504810.html

SOURCE Trinity Capital Inc.

FAQ

What does the SBA Green Light letter mean for Trinity Capital (TRIN)?

The Green Light letter allows Trinity Capital to submit a formal application for an SBIC license, potentially accessing up to $175 million in SBA-guaranteed debentures if approved.

How much capital has Trinity Capital (TRIN) previously deployed through SBIC funds?

Trinity Capital's predecessor entities have successfully deployed $734 million through two SBIC funds.

Is Trinity Capital (TRIN) guaranteed to receive the SBIC license?

No, the conditional approval (Green Light letter) is only an invitation to submit a full application and does not guarantee final SBIC license approval.

How would an SBIC license benefit Trinity Capital (TRIN)?

An SBIC license would allow Trinity Capital to access up to $175 million in SBA-guaranteed debentures, expand its third-party capital management, and add scale to its investment platform.

Who is the CEO of Trinity Capital (TRIN)?

Kyle Brown serves as the Chief Executive Officer of Trinity Capital.