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SLR Credit Solutions | 9 Months Ended
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Sep. 30, 2025
Line of Credit Facility [Abstract] |
SLR Credit Solution | Note 11. SLR Credit Solutions On December 28, 2012, we acquired an equity interest in Crystal Capital Financial Holdings LLC (“Crystal Financial”) for $275,000 in cash. Crystal Financial owned approximately 98% of the outstanding ownership interest in SLR Credit Solutions, f/k/a Crystal Financial LLC (“SLR Credit”). The remaining financial interest was held by various employees of SLR Credit, through their investment in Crystal Management LP. SLR Credit had a diversified portfolio of 23 loans having a total par value of approximately $400,000 at November 30, 2012 and a $275,000 committed revolving credit facility. On July 28, 2016, the Company purchased Crystal Management LP’s approximately 2% equity interest in SLR Credit for approximately $5,737. Upon the closing of this transaction, the Company holds 100% of the equity interest in SLR Credit. On September 30, 2016, Crystal Capital Financial Holdings LLC was dissolved. As of September 30, 2025, total commitments to the revolving credit facility were $300,000. As of September 30, 2025, SLR Credit had 34 funded commitments to 26 different issuers with total funded loans of approximately $389,967 on total assets of $419,123. As of December 31, 2024, SLR Credit had 27 funded commitments to 22 different issuers with total funded loans of approximately $317,565 on total assets of $364,258. As of September 30, 2025 and December 31, 2024, the largest loan outstanding totaled $27,689 and $27,879, respectively. For the same periods, the average exposure per issuer was $14,999 and $14,435, respectively. SLR Credit’s credit facility, which is non-recourse to the Company, had approximately $217,695 and $149,997 of borrowings outstanding at September 30, 2025 and December 31, 2024, respectively. For the three months ended September 30, 2025 and 2024, SLR Credit had net income (loss) of ($1,723) and $8,761, respectively, on gross income of $9,423 and $13,717, respectively. For the nine months ended September 30, 2025 and 2024, SLR Credit had net income of $6,979 and $21,340, respectively, on gross income of $31,955 and $42,313, respectively. Due to timing and non-cash items, there may be material differences between GAAP net income and cash available for distributions. As such, and subject to fluctuations in SLR Credit’s funded commitments, the timing of originations, and the repayments of financings, the Company cannot guarantee that SLR Credit will be able to maintain consistent dividend payments to us.

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