Spring Capital Partners was founded in 1999 to provide mezzanine capital to growing small and medium-sized businesses. The firm makes investments in the form of subordinated debt and equity features for growing companies that seek a source of long-term capital or have reached the limits of their bank borrowing capacities, mezzanine capital represents an attractive alternative to additional equity. While most investments are made to mature companies with institutional equity sponsorship, it also makes investments in "late-stage venture" companies. Additionally, it makes investments in "unsponsored" companies with strong management teams that have proven track records and considerable equity stakes. The firm is based in Lutherville Timonium, Maryland.