07:31 AM EDT, 07/17/2024 (MT Newswires) -- Hercules Capital ( HTGC ) said Wednesday that the US Small Business Administration has approved its fourth Small Business Investment Company unit.

The specialty financing company's chief executive officer, Scott Bluestein, said the license will enable the company to finance technology and life sciences firms while also providing access to long-term financing.

The license is held by a unit that provides growth capital of $175 million, bringing Hercules' borrowing capacity through the program to $350 million.

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