As we all know very well, the coronavirus has shut down economic activity across the world, impacting nearly all businesses, but hitting small businesses especially hard. This has had a direct effect on the balance sheets of business development companies (or BDCs for short).
For the uninitiated: BDCs loan money for around 2 - 5 years to small & "middle market" businesses for various purposes, at interest rates of generally around 7 - 12%. Generally, these smaller businesses do not have access to the bond market to raise debt, but are too large for small