---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-027201"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T05:56:25.938754+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment Corp. closes $50M credit facility, expandable to $150M, via subsidiary SIF III

## Summary
- SIF III entered $50M Live Oak facility; can increase up to $150M within 2 years subject to conditions.
- Facility matures March 27, 2027, with optional 1-year extension; interest at Term SOFR + 3.50%-4.25%.
- Secured by SIF III assets and pledge of SIF III equity by Saratoga; minimum drawn amount $12.5M first year.
- Proceeds used to fund loan purchases; includes interest coverage and overcollateralization covenants.

## SEC filing metadata
- accession: 0001213900-24-027201
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390024027201/0001213900-24-027201-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390024027201/ea0202640-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-027201
- JSON: https://secwatch.observer/filing/0001213900-24-027201.json
- Plain text: https://secwatch.observer/filing/0001213900-24-027201.txt

## Key facts
- Material Agreements
  SARATOGA INVESTMENT CORP. entered into Credit Agreement with Live Oak Banking Company valued at $50.0 million (effective 2024-03-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Live Oak Banking Company
  - Value: $50.0 million
  - Effective: 2024-03-27
  source text: March 27, 2024, Saratoga Investment Corp. (the “ Company ”) and its wholly owned special purpose subsidiary, Saratoga Investment Funding III LLC (“ SIF III ”), entered into a Credit and Security Agreement (the “ Credit Agreement ”), by and among SIF III, as borrower, the Company, as collateral manager and equityholder, the lenders from time to time parties thereto, Live Oak Banking Company (“ Live Oak ”), as administrative agent and collateral agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390024027201/0001213900-24-027201-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.