Triangle Capital lends to companies, but they must be of a certain shape and size. An internally managed business-development company, Triangle provides loans to and invests in lower-middle-market US companies with annual revenues of $20 million-$100 million. The company, which likes to partner with its portfolio companies' management, prefers to invest in established businesses with stable financial histories. Triangle most often invests in senior and subordinated debt securities and usually takes a equity interest; it contributes between $5 million and $15 million per transaction. The company's portfolio includes some 50 manufacturers, business services, food services, and other types of enterprises.