Main Street Capital is a Business Development Company (BDC) that provides debt and equity financing to small and mid-sized private U.S. companies. Main Street's core strategy targets the lower middle market (LMM) — primarily family-owned businesses with revenues of $10M–$150M — where it acts as a "one-stop" financing partner, providing both secured debt and a direct equity stake of 5%–50%. This combined debt-and-equity approach is unusual among BDCs and allows Main Street to earn interest income, dividend income from maturing equity positions, and realized gains when portfolio companies are sold. Main Street also runs a Private Loan strategy, providing first-lien senior secured floating-rate loans to larger, private equity-backed companies with revenues of $25M–$500M, where Main Street acts primarily as a lender rather than a long-term equity partner. Main Street is internally managed, which keeps costs low relative to externally managed BDC peers. Main Street also runs an asset management business through a wholly-owned subsidiary, MSC Adviser I, which earns base and incentive fees by advising MSC Income Fund (a publicly traded BDC), two private loan funds, and separately managed accounts. Main Street is structured as a RIC, meaning it pays no corporate-level federal income tax as long as it distributes at least 90% of taxable income — supporting its dividend capacity. Main Street pays monthly regular dividends supplemented by quarterly supplemental dividends funded by excess income and realized gains.