N-2 - $ / shares |
3 Months Ended | |||
|---|---|---|---|---|
May 31, 2025 |
Feb. 28, 2025 |
May 31, 2024 |
Feb. 29, 2024 |
|
| Cover [Abstract] | ||||
| Entity Central Index Key | 0001377936 | |||
| Amendment Flag | false | |||
| Securities Act File Number | 814-00732 | |||
| Document Type | 10-Q | |||
| Entity Registrant Name | SARATOGA INVESTMENT CORP. | |||
| Entity Address, Address Line One | 535 Madison Avenue | |||
| Entity Address, City or Town | New York | |||
| Entity Address, State or Province | NY | |||
| Entity Address, Postal Zip Code | 10022 | |||
| City Area Code | (212) | |||
| Local Phone Number | 906-7800 | |||
| Entity Emerging Growth Company | false | |||
| General Description of Registrant [Abstract] | ||||
| Investment Objectives and Practices [Text Block] | OVERVIEW
We are a Maryland corporation that has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”). Our investment objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from our investments. We invest primarily in senior and unitranche leveraged loans and mezzanine debt issued by private U.S. middle-market companies, which we define as companies having earnings before interest, tax, depreciation and amortization (“EBITDA”) of between $2 million and $50 million, both through direct lending and through participation in loan syndicates. We may also invest up to 30.0% of the portfolio in opportunistic investments in order to seek to enhance returns to stockholders. Such investments may include investments in distressed debt, which may include securities of companies in bankruptcy, foreign debt, private equity, securities of public companies that are not thinly traded and structured finance vehicles such as collateralized loan obligation funds. Although we have no current intention to do so, to the extent we invest in private equity funds, we will limit our investments in entities that are excluded from the definition of “investment company” under Section 3(c)(1) or Section 3(c)(7) of the 1940 Act, which includes private equity funds, to no more than 15.0% of our net assets. We have elected and qualified to be treated as a RIC under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). |
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| Risk Factors [Table Text Block] | Item 1A. Risk Factors In addition to information set forth in this report, you should carefully consider the “Risk Factors” discussed in our most recent Annual Report on Form 10-K filed with the SEC, which could materially affect our business, financial condition and/or operating results. There have been no material changes during the three months ended May 31, 2025 to the risk factors discussed in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended February 28, 2025. Additional risks or uncertainties not currently known to us or that we currently deem to be immaterial also may materially affect our business, financial condition and/or operating results. |
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| NAV Per Share | $ 25.52 | $ 25.86 | $ 26.85 | $ 27.12 |