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Private Credit: BDC Loans on Non-Accrual
Loans business development companies have stopped accruing interest on, % of their total investments
Plays the chart through its history. Pauses are where the data set a record or moved most.
At cost · Continuation · the recent trend, flattening · 1 year
At fair value · Continuation · the recent trend, flattening · 1 year
Dashed: the projection from the latest reading. Shaded: the range about two in three outcomes land in. A projection, not a promise.
Palanor calculation from SEC schedules of investments filed by business development companies (SEC BDC data sets and EDGAR XBRL; public domain). The panel is every BDC whose tagged holdings add up to its reported total; it grows as new funds file. Non-accrual loans are divided by all investments (debt and equity), the way BDCs report the ratio; non-accrual status is read from each lender's own XBRL footnotes.
The most direct loss signal in private credit. A loan goes on non-accrual when the lender no longer expects its interest. The gap between the two lines is how far below cost the lenders mark those loans.
What this chart reads
- BDC loans on non-accrual, share of investments at costas “At cost”latest 2026-06-30
- BDC loans on non-accrual, share of investments at fair valueas “At fair value”latest 2026-06-30
Sources
BDC loans on non-accrual, share of investments at cost. Source: Palanor calculation from SEC filings: the SEC Business Development Company (BDC) data sets and each filing's XBRL on EDGAR (U.S. Securities and Exchange Commission; public domain).
BDC loans on non-accrual, share of investments at fair value. Source: Palanor calculation from SEC filings: the SEC Business Development Company (BDC) data sets and each filing's XBRL on EDGAR (U.S. Securities and Exchange Commission; public domain).
Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.