US Direct Lenders Hope For Helping Hand From Private Equity Lobbying
By James Harvey – Alt Credit
PennantPark Founder and Managing Partner Art Penn was featured in a story by Alt Credit’s James Harvey, which examined how private equity’s lobbying efforts for coronavirus relief loans could alleviate pressure on direct lenders. Specifically, Art provided insight into the small business investment company exceptions, noting that they will allow some borrowers to access SBA loans. “We’re still figuring everything out, but from or preliminary assessment, we think that about 15-25% of our portfolio companies will be eligible to apply,” he said.