Business Development Corporation of America Announces First Quarter 2012 Results from Operations

March 31, 2012

December 31, 2011

Investments, at fair value

$         32,830

$         14,271

Net asset value per share (1)

$             9.18

$             9.00

Weighted average current coupon yield (2)

11.10%

10.79%

Number of portfolio investments

30

35

Number of industry groups

16

18

(1) Net asset value per share and common shares outstanding for the period ended March 31, 2012 and year ended December 31, 2011 have been adjusted to reflect a stock dividend of $0.05 per share declared on March 29, 2012.

(2) Includes the effect of the amortization or accretion of loan premiums or discounts.

BUSINESS DEVELOPMENT CORPORATION OF AMERICA

STATEMENTS OF ASSETS AND LIABILITIES

(in thousands except share and per share data)

March 31, 2012

December 31, 2011

(Unaudited)

ASSETS

Investments, at fair value (amortized cost of $32,520 and $14,294, respectively)

$

32,830

$

14,271

Cash and cash equivalents

1,120

828

Interest receivable

265

142

Due from affiliate

2,106

918

Deferred credit facility financing costs, net

38

50

Prepaid expenses and other assets

27

41

Total assets

36,386

16,250

LIABILITIES

Revolving credit facility

$

10,000

$

5,900

Payable for unsettled trades

1,007

1,914

Accounts payable and accrued expenses

145

154

Interest and credit facility fees payable

32

19

Stockholder distributions payable

166

56

Total liabilities

11,350

8,043

NET ASSETS

Preferred stock, $.001 par value, 50,000,000 shares authorized, none issued and outstanding

$

—

$

—

Common stock, $.001 par value, 450,000,000 shares authorized
2,726,639 and 912,297 shares issued and outstanding, respectively

3

1

Capital in excess of par value

24,645

8,235

Accumulated distributions in excess of net investment income

(3)

(7)

Accumulated net realized gain from investments

81

1

Net unrealized appreciation (depreciation) on investments

310

(23)

Net assets

25,036

8,207

Total liabilities and net assets

$

36,386

$

16,250

Net asset value per share *

$

9.18

$

9.00

Offering price per share excluding commissions and dealer manager fees

$

9.23

$

9.23

BUSINESS DEVELOPMENT CORPORATION OF AMERICA

STATEMENTS OF OPERATIONS

(dollars in thousands except share and per share data)

(Unaudited)

For the Three Months Ended March 31,

2012

2011

Investment income:

Interest income

$

569

$

—

Other income

41

—

Total investment income

610

—

Operating expenses:

Interest and credit facility financing expenses

106

13

Professional fees

119

—

Directors fees

29

—

Insurance

51

—

Management fees

98

—

Incentive fees

149

—

Other administrative

26

50

Expenses before expense waivers and reimbursements

578

63

Waiver of management and incentive fees

(247)

—

Expense support reimbursement

(78)

—

Total expenses, net of expense waivers and reimbursements

253

63

Net investment income (loss)

357

(63)

Realized and unrealized gain on investments:

Net realized gain from investments

80

—

Net change in unrealized appreciation on investments

333

—

Net realized and unrealized gain on investments

413

—

Net increase (decrease) in net assets resulting from operations

$

770

$

(63)

Per share information - basic and diluted*:

Net investment income (loss)

$

0.21

$

(2.82)

Net increase (decrease) in net assets resulting from operations

$

0.44

$

(2.82)

Weighted average common shares outstanding

1,739,161

22,223