Quarterly report [Sections 13 or 15(d)]

Debt - Schedule of SBA Debentures Outstanding Principal Balances (Details)

v3.25.1
Debt - Schedule of SBA Debentures Outstanding Principal Balances (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Outstanding principal balances $ 1,999,351 $ 1,783,265
Total Available $ 2,564,345 2,329,475
SBA Debentures    
Debt Instrument [Line Items]    
Interest rate 4.89%  
Outstanding principal balances [1] $ 295,000 279,000
Total Available [1] 350,000 350,000
SBA Debentures | Hercules SBIC V, L.P.    
Debt Instrument [Line Items]    
Total Available $ 120,000  
SBA Debentures Issued on March 26, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Mar. 26, 2021  
Maturity Date Sep. 01, 2031  
Interest rate 1.58%  
Outstanding principal balances $ 37,500 37,500
SBA Debentures Issued on June 25, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Jun. 25, 2021  
Maturity Date Sep. 01, 2031  
Interest rate 1.58%  
Outstanding principal balances $ 16,200 16,200
SBA Debentures Issued on July 28, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Jul. 28, 2021  
Maturity Date Sep. 01, 2031  
Interest rate 1.58%  
Outstanding principal balances $ 5,400 5,400
SBA Debentures Issued on August 20, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Aug. 20, 2021  
Maturity Date Sep. 01, 2031  
Interest rate 1.58%  
Outstanding principal balances $ 5,400 5,400
SBA Debentures Issued on October 21, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Oct. 21, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 14,000 14,000
SBA Debentures Issued on November 1, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Nov. 01, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 21,000 21,000
SBA Debentures Issued on November 15, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Nov. 15, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 5,200 5,200
SBA Debentures Issued on November 30, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Nov. 30, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 20,800 20,800
SBA Debentures Issued on December 20, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Dec. 20, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 10,000 10,000
SBA Debentures Issued on December 23, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Dec. 23, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 10,000 10,000
SBA Debentures Issued on December 28, 2021    
Debt Instrument [Line Items]    
Issuance/pooling date Dec. 28, 2021  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 5,000 5,000
SBA Debentures Issued on January 14, 2022    
Debt Instrument [Line Items]    
Issuance/pooling date Jan. 14, 2022  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 4,500 4,500
SBA Debentures Issued on January 21, 2022    
Debt Instrument [Line Items]    
Issuance/pooling date Jan. 21, 2022  
Maturity Date Mar. 01, 2032  
Interest rate 3.21%  
Outstanding principal balances $ 20,000 20,000
SBA Debentures Issued on November 8, 2024    
Debt Instrument [Line Items]    
Issuance/pooling date Nov. 08, 2024  
Maturity Date Mar. 01, 2035  
Interest rate 5.09%  
Outstanding principal balances $ 30,000 30,000
SBA Debentures Issued on December 6, 2024    
Debt Instrument [Line Items]    
Issuance/pooling date Dec. 06, 2024  
Maturity Date Mar. 01, 2035  
Interest rate 5.09%  
Outstanding principal balances $ 33,600 33,600
SBA Debentures Issued on December 12, 2024    
Debt Instrument [Line Items]    
Issuance/pooling date Dec. 12, 2024  
Maturity Date Mar. 01, 2035  
Interest rate 5.09%  
Outstanding principal balances $ 8,400 8,400
SBA Debentures Issued on December 20, 2024    
Debt Instrument [Line Items]    
Issuance/pooling date Dec. 20, 2024  
Maturity Date Mar. 01, 2035  
Interest rate 5.09%  
Outstanding principal balances $ 32,000 32,000
SBA Debentures Issued on February 5, 2025    
Debt Instrument [Line Items]    
Issuance/pooling date Feb. 05, 2025  
Maturity Date Mar. 01, 2035  
Interest rate 5.09%  
Outstanding principal balances $ 6,000 0
SBA Debentures Issued on March 28, 2025    
Debt Instrument [Line Items]    
Issuance/pooling date Mar. 28, 2025  
Maturity Date Sep. 01, 2035  
Interest rate 4.89%  
Outstanding principal balances $ 10,000 $ 0
Total Available $ 10,000  
[1] As of March 31, 2025 and December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V.
(5)In November 2024, the Company amended its SMBC Facility and converted a portion of the existing revolver facility into a term loan facility in connection therewith. As of March 31, 2025, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million respectively. As of December 31, 2024, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million respectively.