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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of
the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event
reported): <B>April 9, 2012 (April 5, 2012)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Business Development Corporation of America</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Maryland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 50%; padding-right: 2.4pt; font-size: 10pt; font-weight: bold; text-align: center"><B>814-00821</B></TD>
    <TD STYLE="width: 50%; padding-right: 0.8pt; font-size: 10pt; font-weight: bold; text-align: center"><B>27-2614444</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.4pt; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 2.4pt; font-size: 10pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>405 Park Avenue, 15th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>New York, New York 10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.6pt 0pt 0; text-align: center">(Address, Including Zip Code,
of Principal Executive Offices)&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>(212) 415-6500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(Registrant&rsquo;s Telephone
Number, Including Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(Former Name or Former Address,
if Changed Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule&nbsp;425 under the Securities
Act (17 CFR 230.425)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange
Act (17 CFR 240.14a-12)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5.02 Departure of Directors or Principal Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Effective April 5, 2012, Edward M. Weil,
Jr. resigned as President of Business Development Corporation of America (the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Simultaneous with Mr. Weil&rsquo;s resignation,
the Board of Directors of the Company appointed Peter M. Budko as President of the Company, effective April 5, 2012, in accordance
with the terms of the Company&rsquo;s Bylaws. Mr. Budko will remain our Chief Operating Officer, a position he has held since
January 2011. Prior to his appointment, Mr. Budko also &nbsp;served as the Executive Vice President and Chief Investment Officer
since our formation in May 2010.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Budko, 52, has<B> </B>also served
as chief executive officer of the BDCA advisor since June 2011. He has more than 20 years of real estate experience. Mr. Budko
also has been executive vice president and chief investment officer of American Realty Capital Trust, Inc.
(&ldquo;ARCT&rdquo;), the ARCT property manager, the ARCT advisor and our dealer manager since their formation in August 2007
and executive vice president and chief investment officer of American Realty Capital New York Recoverty REIT, Inc.
(&ldquo;NYRR&rdquo;) since its formation in October 2009 and the NYRR property manager and the NYRR advisor since their
formation in November 2009. He has also been executive vice president and chief operating officer of American Realty Capital
&ndash; Retail Centers of America, Inc. (&ldquo;ARC RCA&rdquo;) since its formation in July 2010 and executive vice president
of the advisor of ARC RCA since its formation in May 2010. Mr. Budko also has been executive vice president of American
Realty Capital Healthcare Trust Inc. (&ldquo;ARC HT&rdquo;) and the ARC HT advisor since their formation in August 2010. Mr.
Budko has served as executive vice president and chief investment officer of American Realty Capital Trust III, Inc.
(&ldquo;ARCT III&rdquo;) since its formation in October 2010. Mr. Budko has served as executive vice president and chief
investment officer of the advisor and property manager for ARCT III since their formation in October 2010. Mr. Budko has also
served as executive vice president and chief investment officer of American Realty Capital Daily Net Asset Value Trust, Inc.
(&ldquo;ARC Daily NAV&rdquo;) since its formation in September 2010 and executive vice president of its advisor since its
formation in September 2010. Mr. Budko also has been executive vice president and chief investment officer of American Realty
Capital Properties, Inc. (&ldquo;ARCP&rdquo;) since its formation in December 2010 and executive vice president and chief
investment officer of its advisor since its formation in November 2010. Mr. Budko also serves as executive vice president and
chief investment officer of American Realty Capital Global Daily Net Asset Value Trust, Inc. (&ldquo;ARC Global&rdquo;), and
as executive vice president and chief financial officer of the ARC Global advisor, since their formation in July 2011. From
January 2007 to July 2007, Mr. Budko was chief operating officer of an affiliated American Realty Capital real estate
investment firm. Mr. Budko founded and formerly served as managing director and group head of the Structured Asset Finance
Group, a division of Wachovia Capital Markets, LLC from February 1997&nbsp;&ndash;&nbsp;January 2006. The Wachovia Structured
Asset Finance Group structured and invested in real estate that is net leased to corporate tenants. While at Wachovia, Mr.
Budko acquired over $5 billion of net leased real estate assets. From 1987&nbsp;&ndash;&nbsp;1997, Mr. Budko worked in the
Corporate Real Estate Finance Group at NationsBank Capital Markets (predecessor to Bank of America Securities), becoming head
of the group in 1990. Mr. Budko received a B.A. in Physics from the University of North Carolina.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Simultaneous with his appointment as President,
Mr. Budko resigned from his position as Chief Investment Officer, effective April 5, 2012 and the Company appointed Robert K. Grunewald
as Chief Investment Officer, effective April 5, 2012, in accordance with the terms of the Company&rsquo;s Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Grunewald, 49, also has served
as Chief Investment Officer of the BDCA advisor since September 2011. He has over 25 years of experience in middle market
finance, business development companies and asset management. Within the finance industry, he has participated as a lender,
investment banker, M&amp;A advisor, portfolio manager and hedge fund operator. As head of Financial Services M&amp;A
at NationsBank/Montgomery Securities from 1992 through 1997, Mr. Grunewald and his team completed numerous assignments
for clients throughout the specialty finance industry. In 1997, Mr. Grunewald was recruited to lead the Specialty
Finance Investment Banking Practice at what became Wachovia Securities. At Wachovia, Mr. Grunewald managed a number of high
profile transactions, including initial public offerings and secondary offerings for some of the largest publicly-traded BDCs
and finance companies including Capital Source, American Capital Strategies, Allied Capital, Ares Capital and Gladstone
Capital. In 2006, Mr. Grunewald joined American Capital Strategies (ACAS), a publicly-traded BDC and global asset manager
with current assets under management in excess of $52 billion. As head of the Financial Services Investment Practice from
2006 through 2009, Mr. Grunewald and his team focused on investment activity in the specialty finance, insurance, depository
and asset management sectors. In his three years at ACAS, Mr. Grunewald committed over $1 billion to debt and equity
investments and also founded two highly successful financial services companies at ACAS: Core Financial Holdings, a
diversified commercial finance company and asset based lender, and American Capital Agency Corporation (NASDAQ:AGNC), a
publicly traded mortgage REIT, currently with over $43 billion in assets. Mr. Grunewald&rsquo;s relationships and contacts
within the middle market finance arena will allow BDCA to source debt and equity investments from a large universe of middle
market originators and sponsors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 2.8pt; font-weight: bold"><B>BUSINESS DEVELOPMENT CORPORATION OF AMERICA</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.4pt">Date: April 9, 2012</TD>
    <TD STYLE="padding-right: 0.8pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 5.4pt">/s/ Nicholas S. Schorsch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 2.4pt">Name:</TD>
    <TD STYLE="width: 38%; padding-right: 2.4pt">Nicholas S. Schorsch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.4pt">Title:</TD>
    <TD STYLE="padding-right: 2.4pt">Chief Executive Officer and Chairman</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



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{"company-data": {"conformed-name": "Business Development Corp of America", "cik": "0001490927", "irs-number": "000000000", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "814-00821", "film-number": "12749768"}, "business-address": {"street1": "405 PARK AVENUE, 15TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2124156500"}, "mail-address": {"street1": "405 PARK AVENUE, 15TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of report (Date of earliest event
reported):
April 9, 2012 (April 5, 2012)
Business Development Corporation of America
(Exact Name of Registrant as Specified in
Its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
814-00821
27-2614444
(Commission File Number)
(IRS Employer Identification No.)
405 Park Avenue, 15th Floor
New York, New York 10022
(Address, Including Zip Code,
of Principal Executive Offices)
(212) 415-6500
(Registrant's Telephone
Number, Including Area Code)
Not Applicable
(Former Name or Former Address,
if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective April 5, 2012, Edward M. Weil,
Jr. resigned as President of Business Development Corporation of America (the "Company").
Simultaneous with Mr. Weil's resignation,
the Board of Directors of the Company appointed Peter M. Budko as President of the Company, effective April 5, 2012, in accordance
with the terms of the Company's Bylaws. Mr. Budko will remain our Chief Operating Officer, a position he has held since
January 2011. Prior to his appointment, Mr. Budko also  served as the Executive Vice President and Chief Investment Officer
since our formation in May 2010.
Mr. Budko, 52, has
also served
as chief executive officer of the BDCA advisor since June 2011. He has more than 20 years of real estate experience. Mr. Budko
also has been executive vice president and chief investment officer of American Realty Capital Trust, Inc.
("ARCT"), the ARCT property manager, the ARCT advisor and our dealer manager since their formation in August 2007
and executive vice president and chief investment officer of American Realty Capital New York Recoverty REIT, Inc.
("NYRR") since its formation in October 2009 and the NYRR property manager and the NYRR advisor since their
formation in November 2009. He has also been executive vice president and chief operating officer of American Realty Capital
– Retail Centers of America, Inc. ("ARC RCA") since its formation in July 2010 and executive vice president
of the advisor of ARC RCA since its formation in May 2010. Mr. Budko also has been executive vice president of American
Realty Capital Healthcare Trust Inc. ("ARC HT") and the ARC HT advisor since their formation in August 2010. Mr.
Budko has served as executive vice president and chief investment officer of American Realty Capital Trust III, Inc.
("ARCT III") since its formation in October 2010. Mr. Budko has served as executive vice president and chief
investment officer of the advisor and property manager for ARCT III since their formation in October 2010. Mr. Budko has also
served as executive vice president and chief investment officer of American Realty Capital Daily Net Asset Value Trust, Inc.
("ARC Daily NAV") since its formation in September 2010 and executive vice president of its advisor since its
formation in September 2010. Mr. Budko also has been executive vice president and chief investment officer of American Realty
Capital Properties, Inc. ("ARCP") since its formation in December 2010 and executive vice president and chief
investment officer of its advisor since its formation in November 2010. Mr. Budko also serves as executive vice president and
chief investment officer of American Realty Capital Global Daily Net Asset Value Trust, Inc. ("ARC Global"), and
as executive vice president and chief financial officer of the ARC Global advisor, since their formation in July 2011. From
January 2007 to July 2007, Mr. Budko was chief operating officer of an affiliated American Realty Capital real estate
investment firm. Mr. Budko founded and formerly served as managing director and group head of the Structured Asset Finance
Group, a division of Wachovia Capital Markets, LLC from February 1997 – January 2006. The Wachovia Structured
Asset Finance Group structured and invested in real estate that is net leased to corporate tenants. While at Wachovia, Mr.
Budko acquired over $5 billion of net leased real estate assets. From 1987 – 1997, Mr. Budko worked in the
Corporate Real Estate Finance Group at NationsBank Capital Markets (predecessor to Bank of America Securities), becoming head
of the group in 1990. Mr. Budko received a B.A. in Physics from the University of North Carolina.
Simultaneous with his appointment as President,
Mr. Budko resigned from his position as Chief Investment Officer, effective April 5, 2012 and the Company appointed Robert K. Grunewald
as Chief Investment Officer, effective April 5, 2012, in accordance with the terms of the Company's Bylaws.
Mr. Grunewald, 49, also has served
as Chief Investment Officer of the BDCA advisor since September 2011. He has over 25 years of experience in middle market
finance, business development companies and asset management. Within the finance industry, he has participated as a lender,
investment banker, M&A advisor, portfolio manager and hedge fund operator. As head of Financial Services M&A
at NationsBank/Montgomery Securities from 1992 through 1997, Mr. Grunewald and his team completed numerous assignments
for clients throughout the specialty finance industry. In 1997, Mr. Grunewald was recruited to lead the Specialty
Finance Investment Banking Practice at what became Wachovia Securities. At Wachovia, Mr. Grunewald managed a number of high
profile transactions, including initial public offerings and secondary offerings for some of the largest publicly-traded BDCs
and finance companies including Capital Source, American Capital Strategies, Allied Capital, Ares Capital and Gladstone
Capital. In 2006, Mr. Grunewald joined American Capital Strategies (ACAS), a publicly-traded BDC and global asset manager
with current assets under management in excess of $52 billion. As head of the Financial Services Investment Practice from
2006 through 2009, Mr. Grunewald and his team focused on investment activity in the specialty finance, insurance, depository
and asset management sectors. In his three years at ACAS, Mr. Grunewald committed over $1 billion to debt and equity
investments and also founded two highly successful financial services companies at ACAS: Core Financial Holdings, a
diversified commercial finance company and asset based lender, and American Capital Agency Corporation (NASDAQ:AGNC), a
publicly traded mortgage REIT, currently with over $43 billion in assets. Mr. Grunewald's relationships and contacts
within the middle market finance arena will allow BDCA to source debt and equity investments from a large universe of middle
market originators and sponsors.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BUSINESS DEVELOPMENT CORPORATION OF AMERICA
Date: April 9, 2012
By:
/s/ Nicholas S. Schorsch
Name:
Nicholas S. Schorsch
Title:
Chief Executive Officer and Chairman