This letter is submitted on behalf of Triangle Capital Corporation (the “Company”) in response to comments from the staff of the Division of Investment Management (the “Staff”) of the Securities and Exchange Commission (the “Commission”) received orally on June 1, 2015 with respect to the Registrant’s Post-Effective Amendment No. 2 to its Registration Statement on Form N-2 (“Post-Effective Amendment No. 2”), which was filed by the Registrant with the Commission on April 27, 2015 (the “Registration Statement”). The Registrant is concurrently herewith submitting Post-Effective Amendment No. 3 to its Registration Statement on Form N-2 (“Post-Effective Amendment No. 3”), which includes changes to the Registration Statement in response to the Staff’s comments. We have enclosed with this letter a marked copy of Post-Effective Amendment No. 3, which reflects all changes to the Registration Statement.

For your convenience, the Staff’s numbered comments set forth in the Comment Letter have been reproduced in bold and italics herein with responses immediately following each comment. Unless otherwise indicated, page references in the descriptions of the Staff’s comments refer to the Registration Statement, and page references in the responses below refer to Post-Effective Amendment No. 3. Defined terms used herein but not otherwise defined herein have the meanings given to them in Post-Effective Amendment No. 3.

The Company confirms that all of its wholly-owned and substantially wholly-owned subsidiaries have been consolidated for purposes of the Company’s financial statements, other than SRC Worldwide, Inc. (“SRC”), which is a wholly-owned portfolio company. Because SRC is an operating company (as opposed to an investment holding company), in accordance with Rule 6-03(c)(1) of Regulation S-X, the Company has not consolidated SRC in its financial statements.

All investments held by the Company’s wholly-owned subsidiaries, Triangle Mezzanine Fund LLLP and Triangle Mezzanine Fund II LP (collectively, the “Funds”) are pledged as collateral related to the Funds’ outstanding SBA-Guaranteed Debentures. All other investments held by the Company are pledged as collateral for the Credit Facility as disclosed in Note 3 to the consolidated financial statements for the year ended December 31, 2014. In future financial statements (beginning with the quarter ending June 30, 2015), the Company will enhance its disclosure by adding a footnote within the Schedule of Investments in response to the Staff's comment.

The Company has considered the Staff’s comment and respectfully advises the Staff of the Company’s view that the risks posed by a rising interest rate environment are adequately described in the risk factor entitled “Changes in interest rates may affect our cost of capital and results of operations”, which begins on page 30 of Post-Effective Amendment No. 2. The Company has revised the title of the risk factor to clarify that the risk factor also addresses the potential impact on the value of the Company’s investments. The risk factor, which begins on page 30 of Post-Effective Amendment No. 3, is now entitled “Changes in interest rates may affect our cost of capital, the value of our investments and our results of operations.”

•the Company is responsible for the adequacy and the accuracy of the disclosure contained in Post-Effective Amendment No. 3;

•comments of the Staff, if any, or changes to disclosure in response to Staff comments, if any, in the filings reviewed by the Staff do not foreclose the Commission from taking any action with respect to the filing made; and

•the Company may not assert Staff comments, or lack thereof, as a defense in any proceeding initiated by the Commission under the federal securities laws of the United States.