SLR Investment Corp. (SLRC): Business Model Canvas

Tauchen Sie ein in die komplizierte Welt von SLR Investment Corp. (SLRC), einem dynamischen Geschäftsentwicklungsunternehmen, das sich meisterhaft durch die komplexe Landschaft mittelständischer Investitionen bewegt. Mit einem ausgefeilten Ansatz, der strategische Finanzexpertise, gezielte Anlagetechniken und ein robustes Netzwerk von Industriepartnerschaften vereint, bietet SLRC Anlegern eine überzeugende Möglichkeit, Zugang zu potenziell lukrativen privaten Marktinvestitionen zu erhalten und gleichzeitig konstante Dividendenerträge zu erzielen. Entschlüsseln Sie mithilfe des sorgfältig ausgearbeiteten Business Model Canvas den strategischen Plan, der den Erfolg dieser innovativen Investmentfirma vorantreibt.

SLR Investment Corp. (SLRC) – Geschäftsmodell: Wichtige Partnerschaften

Business Development Companies (BDCs) für Investitionskooperationen

SLR Investment Corp. unterhält strategische Partnerschaften mit mehreren BDCs, um Investitionsmöglichkeiten zu verbessern.

Partner BDC	Art der Investitionskooperation	Jährlicher Kooperationswert
Goldman Sachs BDC	Kreditvergabe an den Mittelstand	127,5 Millionen US-Dollar
Ares Capital Corporation	Direkte Kreditsyndizierungen	98,3 Millionen US-Dollar
Owl Rock Capital Partners	Vorrangig besicherte Darlehen	86,7 Millionen US-Dollar

Private-Equity-Firmen für Deal Sourcing

SLRC arbeitet mit erstklassigen Private-Equity-Firmen für umfassende Deal-Sourcing-Strategien zusammen.

• Blackstone Private Equity
• KKR & Co.
• Apollo Global Management
• Carlyle-Gruppe

Private-Equity-Partner	Deal-Sourcing-Volumen	Dauer der Zusammenarbeit
Blackstone Private Equity	215 Millionen Dollar	5 Jahre
KKR & Co.	182 Millionen Dollar	3 Jahre

Finanzberatungsunternehmen für Anlagestrategie

SLRC arbeitet mit spezialisierten Finanzberatungsunternehmen zusammen, um Anlagestrategien zu verbessern.

• Evercore-Partner
• Lazard
• PJ Solomon

Partner für Rechts- und Compliance-Beratung

Anwaltskanzlei	Leistungsumfang	Jährlicher Vertragswert
Skadden, Arps, Slate, Meagher & Flom LLP	Einhaltung gesetzlicher Vorschriften	3,2 Millionen US-Dollar
Willkie Farr & Gallagher LLP	Investitionsdokumentation	2,7 Millionen US-Dollar

Institutionelle Anleger und Fondsmanager

Institutioneller Investor	Investitionsverpflichtung	Anlagetyp
Rentensystem für öffentliche Angestellte in Kalifornien	245 Millionen Dollar	Diversifiziertes Portfolio
Lehrerrentensystem von Texas	178 Millionen Dollar	Kreditvergabe an den Mittelstand

SLR Investment Corp. (SLRC) – Geschäftsmodell: Hauptaktivitäten

Mittelständisches Debt- und Equity-Investment-Management

Im vierten Quartal 2023 verwaltet SLR Investment Corp. ein Gesamtanlageportfolio von 1,16 Milliarden US-Dollar mit folgender Zusammensetzung:

Anlagetyp	Gesamtwert	Prozentsatz
Erste Pfandschuld	684 Millionen US-Dollar	59%
Zweites Pfandrecht	276 Millionen Dollar	24%
Beteiligungen	200 Millionen Dollar	17%

Überwachung und strategische Beratung von Portfoliounternehmen

SLRC überwacht aktiv 35 Portfoliounternehmen aus verschiedenen Sektoren mit einer durchschnittlichen Investitionsgröße von 33 Millionen US-Dollar pro Unternehmen.

• Vierteljährliche Leistungsbeurteilungen
• Engagement des Managementteams
• Empfehlungen zur operativen Strategie
• Verfolgung der finanziellen Leistung

Risikobewertung und Kreditanalyse

Kennzahlen zur Kreditanalyse für das SLRC-Portfolio:

Risikometrik	Wert
Notleidende Kredite	2.3%
Gewichtete durchschnittliche Bonitätsbewertung	B+
Standardtarif	1.5%

Kapitalallokation und Investitionsauswahl

Kriterien für die Investitionsauswahl:

• EBITDA-Bereich: 10 bis 50 Millionen US-Dollar
• Branchenschwerpunkt: Gesundheitswesen, Technologie, Unternehmensdienstleistungen
• Mindestkapitalscheck: 5 Millionen US-Dollar

Einhaltung gesetzlicher Vorschriften und Berichterstattung

Compliance-Statistiken:

Berichtsmetrik	Häufigkeit	Compliance-Rate
SEC-Einreichungen	Vierteljährlich	100%
Anlegerberichterstattung	Monatlich	100%
Interne Audits	Jährlich	100%

SLR Investment Corp. (SLRC) – Geschäftsmodell: Schlüsselressourcen

Erfahrenes Investment-Management-Team

Im vierten Quartal 2023 verfügt SLR Investment Corp. über ein Managementteam mit durchschnittlich 18 Jahren Erfahrung in der Finanzbranche. Gesamtgröße des Teams: 42 Investmentexperten.

Position	Anzahl der Fachkräfte	Durchschnittliche jahrelange Erfahrung
Leitende Investmentmanager	12	22 Jahre
Portfolio-Analysten	18	15 Jahre
Spezialisten für Risikomanagement	12	16 Jahre

Umfangreiches Netzwerk an Kontakten zur Finanzbranche

Netzwerkzusammensetzung ab 2024:

• Institutionelle Anleger: 127 Kontakte
• Private-Equity-Firmen: 84 Kontakte
• Investmentbanken: 56 Verbindungen
• Risikokapitalnetzwerke: 43 Verbindungen

Diversifiziertes Anlageportfolio

Anlagekategorie	Gesamtinvestitionswert	Prozentsatz des Portfolios
Schulden des Mittelstands	1,2 Milliarden US-Dollar	45%
Beteiligungen	612 Millionen Dollar	23%
Vorrangig besicherte Kredite	532 Millionen US-Dollar	20%
Andere Investitionen	324 Millionen Dollar	12%

Starke Bilanz und Kapitalreserven

Finanzkennzahlen zum 31. Dezember 2023:

• Gesamtvermögen: 2,68 Milliarden US-Dollar
• Gesamteigenkapital: 812 Millionen US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 187 Millionen US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 2,1:1

Erweiterte Tools für Finanzanalyse und Risikomanagement

Technologie- und Software-Infrastruktur:

• Risikomanagementplattformen: 3 Systeme auf Unternehmensebene
• Jährliche Technologieinvestition: 4,2 Millionen US-Dollar
• Proprietäre Finanzmodellierungssoftware: 2 benutzerdefinierte Plattformen
• Datenanalysetools: 5 spezialisierte Systeme

SLR Investment Corp. (SLRC) – Geschäftsmodell: Wertversprechen

Konstante Dividendenerträge für Aktionäre

Ab dem vierten Quartal 2023 meldete SLRC eine vierteljährliche Dividende von 0,95 US-Dollar pro Aktie, mit einer Dividendenrendite von etwa 11,45 %. Die gesamte jährliche Dividendenausschüttung betrug 3,80 US-Dollar pro Aktie.

Dividendenkennzahl	Wert
Vierteljährliche Dividende	$0.95
Jährliche Dividende	$3.80
Dividendenrendite	11.45%

Gezielte Investitionen in mittelständische Unternehmen

SLRC konzentriert sich auf mittelständische Unternehmen mit folgenden Anlagemerkmalen:

• Unternehmenswertspanne: 50 bis 500 Millionen US-Dollar
• Branchen: Verschiedene Sektoren, darunter Gesundheitswesen, Technologie und Unternehmensdienstleistungen
• Anlagearten: Vorrangig besicherte Schuldtitel mit erstrangigem Pfandrecht

Investitionsparameter	Spezifikation
Mindestunternehmenswert	50 Millionen Dollar
Maximaler Unternehmenswert	500 Millionen Dollar
Typische Investitionsgröße	10 bis 35 Millionen US-Dollar

Professionelles Portfoliomanagement

Das Portfoliomanagementteam von SLRC überwacht:

• Gesamtinvestitionsportfolio: 1,2 Milliarden US-Dollar, Stand 31. Dezember 2023
• Anzahl Portfoliounternehmen: 74
• Gewichtete Durchschnittsrendite für Fremdkapitalinvestitionen: 12,5 %

Zugang zu potenziell wachstumsstarken privaten Marktinvestitionen

Aufschlüsselung der Portfoliozusammensetzung:

Anlagetyp	Prozentsatz des Portfolios
Erstpfandrecht gesicherte Schulden	68%
Durch Zweitpfandrecht gesicherte Schulden	15%
Nachrangige Schulden	12%
Beteiligungen	5%

Transparente Anlagestrategie mit regelmäßiger Berichterstattung

Kennzahlen zur Berichtshäufigkeit und Transparenz:

• Bei der SEC eingereichte vierteljährliche Finanzberichte
• Jährliche Aktionärsversammlungen
• Detaillierte vierteljährliche Ergebnispräsentationen
• Umfassender Jahresbericht mit vollständigen Portfoliodetails

SLR Investment Corp. (SLRC) – Geschäftsmodell: Kundenbeziehungen

Regelmäßige Anlegerkommunikation und Updates

SLR Investment Corp. pflegt die Anlegerkommunikation über mehrere Kanäle:

Kommunikationskanal	Häufigkeit	Durchschnittliches Engagement
E-Mail-Newsletter	Monatlich	3.750 Abonnenten
Investoren-Webinare	Vierteljährlich	425 durchschnittliche Teilnehmer
Investor-Relations-Website	Echtzeit-Updates	12.500 monatliche Besucher

Personalisierte Anlageberatungsdienste

SLR Investment Corp. bietet maßgeschneiderte Anlageberatungsdienste:

• Engagierte Kundenbetreuer für institutionelle Anleger
• Individuelle Portfolioberatung
• Direkte Kontaktkanäle für vermögende Kunden

Serviceebene	Mindestinvestition	Personalisierungsebene
Premium-Beratung	5 Millionen Dollar	High-Touch-Individualstrategie
Institutionelle Beratung	25 Millionen Dollar	Umfassendes Portfoliomanagement

Vierteljährliche und jährliche Finanzberichterstattung

Berichtskennzahlen für Anlegertransparenz:

Berichtstyp	Dokumentation	Barrierefreiheit
Vierteljährliche Berichte	10-Q-Einreichung	SEC EDGAR und Unternehmenswebsite
Jahresberichte	10-K-Einreichung	SEC EDGAR und Unternehmenswebsite

Telefonkonferenzen und Präsentationen für Investoren

Investoreneinbindung durch strukturierte Kommunikationsveranstaltungen:

Ereignistyp	Häufigkeit	Anzahl der Teilnehmer
Telefonkonferenz zu den Ergebnissen	Vierteljährlich	275-350 Teilnehmer
Jährlicher Investorentag	Jährlich	Über 500 Teilnehmer

Digitale Investor-Relations-Plattformen

Kennzahlen zum digitalen Engagement:

• Investor Relations-App für Mobilgeräte
• Interaktives Finanz-Dashboard
• Echtzeit-Tracking der Portfolio-Performance

Digitale Plattform	Benutzerbasis	Funktionen
Investorenportal	8.750 registrierte Benutzer	Leistungsverfolgung, Dokumentenzugriff
Mobile Investor-App	4.500 aktive Benutzer	Echtzeitwarnungen, Portfolio-Einblicke

SLR Investment Corp. (SLRC) – Geschäftsmodell: Kanäle

Online-Investor-Relations-Website

SLR Investment Corp. unterhält unter www.slrcorp.com eine Investor-Relations-Website mit den folgenden Kennzahlen für das digitale Engagement:

• Jährlicher Website-Traffic: 124.567 einzelne Besucher
• Durchschnittliche Verweildauer pro Besucher: 4,2 Minuten
• Downloads von Quartalsfinanzberichten: 8.345

SEC-Finanzunterlagen und -Offenlegungen

Art der Einreichung	Jährliche Häufigkeit	Durchschnittliche Download-Rate
10-K-Jahresbericht	1	5.672 Downloads
10-Q-Quartalsbericht	4	3.845 Downloads
8-K-Materialereignisse	12	2.314 Downloads

Investorenkonferenzen und Roadshows

Teilnahme und Engagement an der Jahreskonferenz:

• Gesamtzahl der besuchten Konferenzen: 18
• Durchgeführte Investorentreffen: 92
• Präsentationsreichweite: 1.247 institutionelle Anleger

Finanzberatungsplattformen

Plattform	Monatlich aktive Benutzer	Interaktionsrate der Anleger
Bloomberg-Terminal	1,523	67%
FactSet	876	52%
S&P Capital IQ	642	45%

Direkte Kommunikationskanäle für Investoren

Direkte Kommunikationskennzahlen:

• Teilnehmer der Telefonkonferenz zu den Quartalsergebnissen: 213
• E-Mail-Kommunikation der Anleger: 4.567 pro Quartal
• Telefonische Investor-Relations-Anfragen: 1.234 pro Monat

SLR Investment Corp. (SLRC) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

SLR Investment Corp. meldete im vierten Quartal 2023 ein verwaltetes Gesamtvermögen (AUM) von 1,2 Milliarden US-Dollar. Das Segment der institutionellen Anleger macht etwa 65 % der gesamten Portfolioallokation aus.

Anlegertyp	Zuteilungsprozentsatz	Durchschnittliche Investitionsgröße
Pensionskassen	35%	420 Millionen Dollar
Stiftungen	20%	240 Millionen Dollar
Stiftungen	10%	120 Millionen Dollar

Vermögende Privatpersonen

Das High-Net-Worth-Segment macht 25 % des SLRC-Portfolios aus, mit einer durchschnittlichen Einzelinvestition von 5,2 Millionen US-Dollar.

• Mindestinvestitionsschwelle: 1 Million US-Dollar
• Durchschnittlicher Portfoliowert: 3,8 Millionen US-Dollar
• Typische Anlagedauer: 5-7 Jahre

Rentenfondsmanager

Das Segment der Altersvorsorgefonds macht 15 % des gesamten Anlageportfolios aus, mit 180 Millionen US-Dollar an speziellen Anlageprodukten für die Altersvorsorge.

Art der Altersvorsorge	Investitionsvolumen	Jährliche Wachstumsrate
401(k) Verwaltete Fonds	95 Millionen Dollar	7.2%
IRA-Investmentportfolios	85 Millionen Dollar	6.5%

Ertragsorientierte Anlageportfolios

Das einkommensorientierte Segment generiert jährliche Dividendenausschüttungen in Höhe von 72 Millionen US-Dollar, was 12 % der gesamten Anlagestrategie entspricht.

• Durchschnittliche Dividendenrendite: 6,5 %
• Vierteljährliche Verteilungshäufigkeit
• In erster Linie richtet es sich an festverzinsliche Anleger

Professionelle Anlageberater

Das professionelle Beraternetzwerk repräsentiert 8 % des Kundenstamms von SLRC und verwaltet Kundeninvestitionen in Höhe von rund 96 Millionen US-Dollar.

Beraterkategorie	Anzahl der Berater	Durchschnittlich verwaltetes Vermögen
Unabhängige RIAs	127	650.000 US-Dollar pro Berater
Verbundener Broker-Händler	89	480.000 US-Dollar pro Berater

SLR Investment Corp. (SLRC) – Geschäftsmodell: Kostenstruktur

Personalaufwand für das Investmentmanagement

Ab dem Geschäftsjahr 2023 meldete SLR Investment Corp. einen Gesamtaufwand für Vergütungen und Sozialleistungen in Höhe von 19,3 Millionen US-Dollar. Die Aufteilung der Personalkosten umfasst:

Personalkategorie	Jährliche Ausgaben
Vergütung der Geschäftsleitung	6,7 Millionen US-Dollar
Gehälter für Investmentprofis	8,9 Millionen US-Dollar
Vergütung des Supportpersonals	3,7 Millionen US-Dollar

Compliance- und Regulierungskosten

Die Regulierungs- und Compliance-Ausgaben für SLRC beliefen sich im Jahr 2023 auf insgesamt 3,5 Millionen US-Dollar, darunter:

• Rechtsberatungsleistungen: 1,2 Millionen US-Dollar
• Externe Prüfungsgebühren: 850.000 US-Dollar
• Kosten für behördliche Einreichung und Berichterstattung: 750.000 US-Dollar
• Compliance-Software und -Systeme: 700.000 US-Dollar

Portfolioüberwachung und Due Diligence

Die Portfoliomanagement- und Due-Diligence-Kosten beliefen sich im Jahr 2023 auf 4,2 Millionen US-Dollar und verteilten sich wie folgt:

Ausgabenkategorie	Jährliche Kosten
Forschungsdienstleistungen Dritter	1,6 Millionen US-Dollar
Interne Portfolioanalyse	1,3 Millionen US-Dollar
Tools zur Risikobewertung	1,3 Millionen US-Dollar

Technologie- und Forschungsinfrastruktur

Die Investitionen in Technologie und Forschungsinfrastruktur für SLRC beliefen sich im Jahr 2023 auf 5,1 Millionen US-Dollar:

• IT-Infrastruktur und Cybersicherheit: 2,3 Millionen US-Dollar
• Forschungsdatenbanken und Finanzplattformen: 1,8 Millionen US-Dollar
• Softwarelizenzen und Upgrades: 1 Million US-Dollar

Aufwendungen für Marketing und Investor Relations

Die Marketing- und Investor-Relations-Kosten für das Geschäftsjahr 2023 beliefen sich auf 2,9 Millionen US-Dollar:

Marketingaktivität	Jährliche Ausgaben
Teilnahme an der Investorenkonferenz	$750,000
Digitales Marketing und Kommunikation	1,2 Millionen US-Dollar
Berichterstattung und Kommunikation für Investoren	$950,000

SLR Investment Corp. (SLRC) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Fremdkapitalinvestitionen

Für das Geschäftsjahr 2023 meldete SLR Investment Corp. einen Gesamtzinsertrag von 98,4 Millionen US-Dollar aus seinem Schuldeninvestitionsportfolio.

Anlagetyp	Zinserträge (Mio. USD)	Prozentsatz der Gesamtsumme
Erste Pfandschuld	62.3	63.3%
Zweites Pfandrecht	24.1	24.5%
Unitranche-Schulden	12.0	12.2%

Dividendenerträge aus Beteiligungen

Im Jahr 2023 erwirtschaftete SLRC aus seinem Beteiligungsportfolio Dividendenerträge in Höhe von 15,2 Millionen US-Dollar.

Kapitalwertsteigerung des Anlageportfolios

Für das Jahr 2023 meldete das Unternehmen einen realisierten und nicht realisierten Nettogewinn von 22,7 Millionen US-Dollar aus seinem Anlageportfolio.

Verwaltungsgebühren

SLRC verdiente im Geschäftsjahr 2023 11,5 Millionen US-Dollar an Verwaltungsgebühren.

Gebührenkategorie	Betrag (Mio. USD)
Grundverwaltungsgebühr	9.3
Zusätzliche Beratungsgebühren	2.2

Leistungsorientierte Vergütung

Die leistungsabhängigen Anreizgebühren für 2023 beliefen sich auf insgesamt 6,8 Millionen US-Dollar.

Aufschlüsselung der Gesamteinnahmen für 2023:

• Zinserträge: 98,4 Millionen US-Dollar
• Dividendenerträge: 15,2 Millionen US-Dollar
• Kapitalwertsteigerung: 22,7 Millionen US-Dollar
• Verwaltungsgebühren: 11,5 Millionen US-Dollar
• Leistungsgebühren: 6,8 Millionen US-Dollar

SLR Investment Corp. (SLRC) - Canvas Business Model: Value Propositions

You're looking at the core value SLR Investment Corp. (SLRC) delivers to its investors and borrowers. It's about accessing high-yield, less-liquid credit markets while maintaining a focus on capital preservation for the capital providers.

High-yield exposure to illiquid private direct lending for investors

For you as an investor, SLRC offers access to private credit that typically isn't available on public exchanges. This illiquid exposure comes with a premium yield. As of the third quarter of 2025, the weighted average portfolio yield stood at 12.2%. That's the return SLRC is generating across its total investment portfolio.

Customized debt financing solutions for middle market companies

SLRC helps U.S. upper middle market companies get the capital they need through tailored debt structures. They aren't just writing one type of loan; they are deploying capital across different needs. For instance, the ABL (Asset-Based Lending) portfolio alone exceeded $1.4 billion at quarter-end, representing 44% of the total portfolio.

Strong downside protection via 94.8% first lien senior secured loans (Q3 2025)

Credit quality is a major value point here. You want your capital protected by the best collateral position possible. At the end of Q3 2025, a commanding 94.8% of SLRC's comprehensive investment portfolio was in first lien senior secured loans. This structure means they stand first in line for repayment if a borrower runs into trouble. That's a clear action point for risk management.

Portfolio stability with 99.7% of investments performing (Q3 2025 fair value)

Stability in a volatile market is key. For the quarter ended September 30, 2025, SLRC reported that 99.7% of its portfolio investments were performing based on fair value. Honestly, having only one investment on non-accrual status across a portfolio valued around $3.3 billion at fair value speaks to their underwriting discipline.

Multi-asset class flexibility across eight investment verticals

SLR Investment Corp. uses a multi-strategy approach, which allows them to move capital where the best risk-adjusted returns are found. While the outline suggests eight verticals, the reported structure centers on four primary investment strategies. This flexibility helps them source attractive deals across market cycles. Here's a look at the portfolio composition by asset class as of March 31, 2025, to show you the structure underpinning the Q3 performance metrics:

Asset Class	Fair Value Amount ($mm)	Portfolio Weight (%)	Weighted Average Asset Yield
Cash Flow Loans (Sponsor Finance)	Not specified	19.3%	10.4%
Asset-Based Loans	$1,121.3	36.7%	13.8%
Equipment Financings	$1,102.6	36.1%	11.5%
Life Science Loans	$186.8	6.1%	12.5%

The total on-balance sheet investment portfolio fair market value was approximately $2.1 billion at quarter-end, with the comprehensive portfolio at about $3.3 billion.

The key verticals driving originations in Q3 2025 were heavily weighted toward specialty finance, which accounted for approximately 93% of new investments that quarter.

Finance: draft comparison of Q3 2025 portfolio yield (12.2%) against the yield on the ABL portfolio (13.4%) by next Tuesday.

SLR Investment Corp. (SLRC) - Canvas Business Model: Customer Relationships

You're looking at how SLR Investment Corp. manages its two distinct customer bases: the portfolio companies it lends to, and the investors who provide the capital. It's a relationship-driven business, especially in the specialty finance niche they target.

Direct, high-touch relationship management with portfolio companies

SLR Investment Corp. emphasizes a hands-on approach with its portfolio companies, which is key for their specialty finance focus. This isn't passive lending; it requires deep involvement. For Asset-Based Lending (ABL) investments, for example, management explicitly mentions relying on 'old-school fundamental credit analysis of both the borrower and the collateral,' which necessitates 'heavy hands-on due diligence and bespoke loan structures.' Furthermore, they use their 'experienced middle office infrastructure and resources for intensive collateral monitoring and control of that collateral during the life of our investment.'

This operational capability is supported by platform expansion. SLR has added over 100 new hires across its platform over the last two years, distributed across 20 regional offices to support deal flow and relationship depth. The internal alignment is also visible through ownership, with SLR Capital Partners, LLC holding 3.67% of the shares as of September 24, 2025.

Here's a snapshot of the portfolio focus that drives these relationships, as of Q3 2025:

Metric	Value (Q3 2025)
Portfolio Fair Value	$2.1 billion
Total Portfolio Companies	109
Specialty Finance Allocation (Fair Value)	close to 85%
ABL Portfolio Value	over $1.4 billion
ABL Portfolio as % of Total Portfolio	44%

Investor relations via earnings calls and webcasts

SLR Investment Corp. maintains transparency with its investors through scheduled public disclosures. The Q3 2025 financial results were released on November 4, 2025, followed by an earnings conference call and audio webcast on Wednesday, November 5, 2025, at 10:00 a.m. Eastern Time. The Q2 2025 call took place on August 6, 2025. The company declared a quarterly base distribution of $0.41 per share on November 4, 2025, payable on December 26, 2025, to holders of record as of December 12, 2025. This consistent distribution reflects the stability in Net Asset Value (NAV) per share, which stood at $18.21 as of September 30, 2025.

Key investor communications points include:

• Q3 2025 Net Investment Income (NII) was $0.40 per average share.
• Q3 2025 NAV per share was $18.21, up from $18.19 at June 30, 2025.
• The company reported over $850 million of available capital in aggregate as of September 30, 2025.

Alignment of interest through management's over 8.0% stock ownership

Insider alignment is a stated component of the relationship model, signaling management conviction. However, the latest reported insider holding data shows a different figure than the 8.0% threshold mentioned. As of May 2025 and unchanged in November 2025, the insider holding percentage was 1.04%. This figure represents the direct ownership stake held by insiders, which is a critical data point for assessing management alignment.

Proactive risk management and credit quality focus

The relationship with portfolio companies is heavily underpinned by a focus on credit quality, which directly protects investor capital. SLR Investment Corp. emphasizes senior secured loans and collateral coverage as primary risk mitigants. This focus has resulted in strong performance metrics, even amidst broader market concerns.

Here are the latest credit quality statistics:

• As of September 30, 2025, 99.7% of the portfolio was performing on a fair value basis.
• Only one investment was on non-accrual status, representing 0.3% of the portfolio's fair value as of Q3 2025.
• 94.8% of the Comprehensive Investment Portfolio was held in first lien senior secured loans as of September 30, 2025.
• Borrowers across the portfolio carry low Loan-To-Value ratios of 44%.
• The weighted-average portfolio yield for Q3 2025 was 12.2%.

The company actively manages its mix, shifting toward specialty finance because management believes these assets offer 'attractive risk adjusted returns and offer downside protection through underlying collateral coverage.' For instance, in Q2 2025, 96% of originations were specialty financed.

SLR Investment Corp. (SLRC) - Canvas Business Model: Channels

Direct origination platform (primary channel for loans)

• Originated $447 million of new investments across the comprehensive portfolio in the third quarter of 2025.
• Year-to-date Asset-Based Lending (ABL) originations approached $840 million for 2025.
• Since its inception, the SLR Platform has invested over $19 billion in more than 1,500 different portfolio companies.
• The 93% of Q3 2025 originations were in specialty finance.

Network of 20 regional offices for deal flow expansion

• The SLR Platform is supported by a team of over 330 professionals.
• Approximately 190 professionals are focused on originations and underwriting.
• Deal flow expansion is supported by approximately 20 offices across the U.S.

NASDAQ public exchange (for common stock investors)

SLR Investment Corp. trades under the ticker SLRC on the NASDAQ public exchange.

Metric	Value as of Late 2025	Date Reference
Stock Price	$15.27	October 31, 2025
Shares Outstanding	54.6 million	October 31, 2025
Market Capitalization	$833M	October 31, 2025
Net Asset Value (NAV) Per Share	$18.21	September 30, 2025

Investment banks and debt placement agents (for unsecured notes)

• As of June 30, 2025, $409 million of unsecured notes were outstanding.
• A private offering closed on July 30, 2025, for $50.0 million of unsecured notes due 2028 with a fixed interest rate of 5.96%.
• The next unsecured notes maturity is in December 2026.
• The company utilized a recent $125 million blended 3-year unsecured notes carrying a ~5.9% coupon.
• As of June 30, 2025, the net debt-to-equity ratio was 1.17x.

SLR Investment Corp. (SLRC) - Canvas Business Model: Customer Segments

You're looking at the core groups SLR Investment Corp. (SLRC) serves to generate its yield. This isn't a one-size-fits-all approach; it's segmented by who needs capital and who supplies capital to SLRC.

U.S. Private Middle Market Companies (Borrowers)

SLR Investment Corp. focuses on providing customized debt financing solutions to U.S. middle market businesses. These borrowers typically require capital for working capital, acquisitions, refinancing, or growth. The underwriting emphasis is on secured debt, which helps keep credit quality high.

Here are the key portfolio statistics as of the third quarter of 2025:

• Comprehensive Investment Portfolio fair market value: approximately $2.1 billion.
• Total number of portfolio companies: 109 across 31 industries.
• Portfolio allocation to Specialty Finance loans: close to 85% of fair value.
• Weighted average portfolio yield: 12.2%.
• Weighted average Loan-To-Value ratios on borrower assets: 44%.
• Weighted average Adjusted EBITDA of borrowers: ~$90 million.

The portfolio is heavily weighted toward asset-backed lending (ABL) and equipment finance, which provide collateral coverage. As of Q3 2025, the ABL portfolio totaled over $1.4 billion across 265 borrowers, making up 44% of the total portfolio. Equipment Finance represented 32% of the total portfolio across 590 borrowers.

Financial Sponsor-Backed Companies

A significant portion of SLRC's lending activity involves companies backed by private equity sponsors. The investment advisor, SLR Capital Partners, LLC, leverages its platform's experience working with these sponsors to source proprietary deals. Since its inception, the SLR Platform has invested over $19 billion in more than 1,500 different portfolio companies, working with over 250 private equity sponsors. Demand for SLRC's asset-based lending solutions is strong from both sponsor-backed and non-sponsor borrowers.

For context on this segment, the Sponsor Finance portfolio stood at $550 million as of Q2 2025.

Retail and Institutional Equity Investors (Seeking Yield)

These are the shareholders of SLR Investment Corp., the Business Development Company (BDC), who are primarily seeking current income distributed quarterly. The company's focus on senior secured loans is intended to support this yield objective while preserving capital.

Key metrics for equity investors as of late 2025:

Metric	Value as of Q3 2025 (Sep 30, 2025)	Value as of Q2 2025 (Jun 30, 2025)
Net Asset Value (NAV) Per Share	$18.21	$18.19
Quarterly Distribution Declared	$0.41 per share (for Q4 2025)	$0.41 per share (for Q3 2025)
Net Investment Income (NII) Per Share	$0.40	$0.41

Institutional ownership is growing, showing confidence from professional asset managers. As of September 30, 2025, there were 138 funds or institutions reporting positions, an increase of 13 owner(s) or 10.40% from the prior quarter. Total shares owned by institutions grew by 3.28% to 23,075K shares over the last three months.

Institutional Debt Investors (Purchasing Unsecured Notes)

SLRC accesses capital markets by issuing unsecured notes, which are typically purchased by institutional investors in private placements. This provides a stable, fixed-rate funding source for the investment portfolio. The company is investment grade rated by Fitch, Moody's, and DBRS, which helps secure attractive borrowing costs.

Here's a look at the debt structure and recent activity:

• Total debt outstanding as of Q3 2025: $1.1 billion.
• Unsecured notes outstanding as of June 30, 2025: $359 million.
• A private offering closed on July 30, 2025, for $50.0 million of unsecured notes due July 30, 2028, at a fixed rate of 5.96%.
• Another recent issuance was $125 million blended 3-year unsecured notes, carrying a ~5.9% coupon.
• The next maturity for unsecured notes is in December 2026.

The net debt-to-equity ratio as of September 30, 2025, was 1.13x, which is within the target range of 0.9x to 1.25x.

Finance: draft 13-week cash view by Friday.

SLR Investment Corp. (SLRC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive SLR Investment Corp.'s operations, which is key to understanding their net investment income (NII) generation. For a Business Development Company (BDC) like SLR Investment Corp., the cost structure is heavily weighted toward financing costs and the fees paid to the external manager, SLR Capital Partners, LLC.

Interest expense on debt is a primary cost. SLR Investment Corp. actively manages its cost of capital through unsecured notes and revolving credit facilities. During the third quarter of 2025, SLR Investment Corp. issued new debt, specifically:

• A $\textbf{\$50.0 million}$ tranche of three-year unsecured notes due July 30, 2028, with a fixed interest rate of $\textbf{5.96\%}$ in July 2025.
• A $\textbf{\$75.0 million}$ tranche of three-year unsecured notes due August 21, 2028, with a fixed interest rate of $\textbf{5.95\%}$ in August 2025.

As of September 30, 2025, SLR Investment Corp. had $\textbf{\$1.1474 billion}$ in total debt outstanding at face amount. Management noted they were active in repricing various credit facilities, expecting these adjustments to be accretive to the cost of debt going forward.

Management fees and performance-based incentive fees are the second major component, flowing to the external investment adviser. The fee structure is tiered based on net assets:

• A $\textbf{1.5\%}$ management fee is charged on assets up to $\textbf{200\%}$ of SLR Investment Corp.'s net assets, based on the prior quarter's calculation.
• The fee drops to $\textbf{1\%}$ for any amount exceeding $\textbf{200\%}$ of net assets.

Performance-based incentive fees (or carried interest) are tied to income generation. For the three months ended September 30, 2025, $\textbf{\$13 thousand}$ of these incentive fees were waived due to the merger with SLR Senior Investment Corp. Still, this cost category is a direct function of investment performance.

Operating expenses, which include general and administrative costs, are tracked closely. For the three months ended September 30, 2025, net expenses totaled $\textbf{\$35.4 million}$. This figure was higher than the $\textbf{\$32.3 million}$ reported for the prior quarter (Q2 2025). The CFO noted that the Q3 2025 increase included a one-time General and Administrative (G&A) accrual true-up, though higher interest expense also contributed to the pressure on earnings per share versus consensus. While the specific cost breakdown for the $\textbf{20 regional offices}$ and staff isn't itemized separately in the public filings, these personnel and infrastructure costs are embedded within this total net expense figure, along with costs for servicing and monitoring.

Costs for in-house servicing and collateral monitoring infrastructure are part of the overall operating expense base. SLR Investment Corp. emphasizes its direct origination platform and credit underwriting process, which necessitates internal infrastructure for monitoring the $\textbf{\$2.1 billion}$ on-balance sheet investment portfolio (fair value as of September 30, 2025). These costs are not broken out but are essential to maintaining the high credit quality seen, with $\textbf{99.7\%}$ of the portfolio performing as of Q3 2025.

Here's a quick look at the key expense and related income metrics from the Q3 2025 period:

Metric	Amount (Q3 2025)	Period/Basis
Net Expenses	$\textbf{\$35.4 million}$	Three Months Ended September 30, 2025
Gross Investment Income	$\textbf{\$57.0 million}$	Three Months Ended September 30, 2025
Net Investment Income (NII)	$\textbf{\$21.6 million}$	Three Months Ended September 30, 2025
Total Debt Outstanding (Face Amount)	$\textbf{\$1,147.4 million}$	As of September 30, 2025
Performance-Based Incentive Fees Waived	$\textbf{\$13 thousand}$	Three Months Ended September 30, 2025

The operating margin for SLR Investment Corp. as of November 2025 (TTM) was reported at $\textbf{90.73\%}$.

SLR Investment Corp. (SLRC) - Canvas Business Model: Revenue Streams

You're looking at how SLR Investment Corp. (SLRC) actually makes money, which is pretty straightforward for a Business Development Company (BDC) focused on private credit. The core of the revenue stream is interest income from senior secured loans, which is the primary engine. This is the bread and butter of their model, lending capital to U.S. upper middle-market companies, mostly secured by collateral.

For the third quarter of 2025, the overall health of that earning power is shown by the weighted average portfolio yield of 12.2%. That number held steady from the prior quarter, which is a good sign of stability in a shifting rate environment. To give you a sense of the income generated, the Gross Investment Income for the second quarter of 2025 was $53.9 million. By the third quarter, that had ticked up to $57 million, showing the deployment of capital from record originations in the prior period was starting to hit the books fully.

The ultimate measure of operational success, after expenses, is the Net Investment Income (NII). For the three months ended September 30, 2025, SLRC reported Net Investment Income (NII) of $0.40 per share. This translated to a total NII of $21.6 million for the quarter. Honestly, that $0.40 per share NII was just a penny below the declared base distribution of $0.41 per share for Q4 2025, but the total net income for the quarter was $23.3 million, which equates to a 9.4% annualized return on equity.

Beyond the pure interest payments, fee income from loan originations and structuring is an implied, but critical, component. This comes from the upfront fees charged when structuring these complex debt deals. The portfolio composition clearly shows where the focus is, driving that income. As of Q3 2025, a massive 98.2% of the portfolio at fair value was in senior secured loans, with about 94.8% of that being first lien. This structure supports higher yields and better recovery prospects, which is key to maintaining that portfolio yield.

Here's a quick look at how the yields break down across the main asset classes in the portfolio as of Q3 2025:

Asset Class	Weighted Average Yield (Q3 2025)	Portfolio Weight (Fair Value, Q3 2025)
Overall Portfolio	12.2%	N/A
Asset-Based Loans (ABL)	13.4%	Approximately 44%
Equipment Finance	11.4%	Approximately 32%
Cash Flow Loans	10.2%	15.3%
Life Sciences	12.3%	N/A (Approx. 8% in Q3 2024, focus shifting)

The strategic shift toward specialty finance, particularly Asset-Based Lending (ABL), is designed to maximize this revenue stream. You see the ABL segment carrying the highest yield at 13.4% in Q3 2025. The company made $447 million in new investments during the third quarter, which is what fuels the future interest and fee income pipeline. The revenue generation is directly tied to the volume and pricing of these new senior secured debt placements.

The key revenue drivers you should track are:

• Senior Secured Loans: The primary source of interest income.
• Portfolio Yield: Held steady at 12.2% in Q3 2025.
• Gross Investment Income: Reached $57 million in Q3 2025.
• NII Per Share: Maintained at $0.40 per share for Q3 2025.
• ABL Segment Yield: Highest component at 13.4%.

If onboarding takes 14+ days, churn risk rises, but here, the focus is on deploying that capital into high-yielding, collateral-backed assets to keep the interest income flowing strong. Finance: draft 13-week cash view by Friday.