In the investing world, BDC stands for Business Development Company. This type of company was created in 1980 by Congress, to encourage the flow of public equity capital to private businesses in the United States. BDCs are required to invest primarily in private companies, and are required to make available significant managerial assistance to those companies.
By qualifying as a Regulated Investment Company, a BDC can avoid double taxation by distributing to its shareholders at least 90% of their "investment company taxable income." In this way, BDCs are very much like REITs in that these companies often pay a very high dividend.
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