v3.26.1
N-2 - $ / shares
 3 Months Ended
May 31, 2026
Feb. 28, 2026
May 31, 2025
Feb. 28, 2025
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, we may invest in private equity funds in the future. Private equity funds are not limited in how they invest their assets, and the underlying investments held by private equity funds may impact our strategies, risks, and costs. Shareholders may have limited information about the underlying investments of the private equity funds in which we invest, including with respect to such funds’ holdings, liquidity, and valuation We have elected, and intend to qualify annually, to be treated for U.S. federal income tax purposes as a RIC under subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). 

      
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, 2026 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, 2026. 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.

      
NAV Per Share $ 23.23 $ 24.42 $ 25.52 $ 25.86
RISKS RELATED TO OUR NOTES One [Member]        
General Description of Registrant [Abstract]        
Risk [Text Block]

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, 2026 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, 2026. 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.