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  <TITLE> Patriot Capital Funding, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	June 26, 2006
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  	Patriot Capital Funding, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	0-51459
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  	74-3068511
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	274 Riverside Avenue, Westport, Connecticut
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  	06880
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	203-429-2700
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  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:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On June 14, 2006, the stockholders of Patriot Capital Funding, Inc. (the "Company") approved an amendment to the Company&#x2019;s Stock Option Plan to permit the issuance of an additional 1,130,181 shares of the Company&#x2019;s common stock upon the exercise of options (the "Amended Stock Option Plan").  Under the Amended Stock Option Plan, a maximum of 2,431,677 shares may be issued through the exercise of options granted under the Amended Stock Option Plan.  A copy of the Company&#x2019;s Amended Stock Option Plan is set forth in Appendix B to the Company&#x2019;s proxy statement filed with the Securities and Exchange Commission on May 1, 2006.<br><br>On June 26, 2006, the Compensation Committee of the Company&#x2019;s Board of Directors approved individual stock option awards for certain officers and employees of the Company pursuant to the Amended Stock Option Plan at an exercise price of $10.97, the closing price of the Company's common stock on June 26, 2006.  The number of stock options granted to each executive officer of the Company are as follows: (1) 275,000 options to Mr. Richard P. Buckanavage, President and Chief Executive Officer; (2) 275,000 options to Mr. Timothy W. Hassler, Chief Operating Officer and Chief Compliance Officer; (3) 165,000 options to Mr. Matthew R. Colucci, Executive Vice President and Managing Director; (4) 32,500 options to Mr. William E. Alvarez, Jr., Executive Vice President, Chief Financial Officer and Secretary; and (5) 32,500 options to Mr. Clifford L. Wells, Executive Vice President and Chief Investment Officer.  The stock options vest over three years at a rate of 1/36th per month.  <br><br>As provided for in the Amended Stock Option Plan, the stock option awards are subject to the terms and restrictions provided for in the form of stock option agreement filed as exhibit (i)(2) to Amendment No.1 to the Company&#x2019;s Registration Statement on Form N-2 filed with the Securities and Exchange Commission on July 13, 2005 (File No. 333-124831).<br>
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  	SIGNATURES
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  	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.
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  	Patriot Capital Funding, Inc.
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  <I>
  	June 29, 2006
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  	By:
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  <I>
  	/s/ William E. Alvarez, Jr.
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  <I>
  	Name: William E. Alvarez, Jr.
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  	Title: Executive Vice President, Chief Financial Officer and Secretary
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_13471.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10315}]
metadata_filer: {"company-data": {"conformed-name": "Patriot Capital Funding, Inc.", "cik": "0001321560", "irs-number": "743068511", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "814-00713", "film-number": "06935084"}, "business-address": {"street1": "61 WILTON ROAD", "street2": "2ND FLOOR", "city": "WESTPORT", "state": "CT", "zip": "06880", "phone": "(203) 227-7778"}, "mail-address": {"street1": "61 WILTON ROAD", "street2": "2ND FLOOR", "city": "WESTPORT", "state": "CT", "zip": "06880"}}
text: Patriot Capital Funding, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 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):
  June 26, 2006
  Patriot Capital Funding, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  0-51459
  74-3068511
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  274 Riverside Avenue, Westport, Connecticut
  06880
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  203-429-2700
  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:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On June 14, 2006, the stockholders of Patriot Capital Funding, Inc. (the "Company") approved an amendment to the Company's Stock Option Plan to permit the issuance of an additional 1,130,181 shares of the Company's common stock upon the exercise of options (the "Amended Stock Option Plan").  Under the Amended Stock Option Plan, a maximum of 2,431,677 shares may be issued through the exercise of options granted under the Amended Stock Option Plan.  A copy of the Company's Amended Stock Option Plan is set forth in Appendix B to the Company's proxy statement filed with the Securities and Exchange Commission on May 1, 2006.
  On June 26, 2006, the Compensation Committee of the Company's Board of Directors approved individual stock option awards for certain officers and employees of the Company pursuant to the Amended Stock Option Plan at an exercise price of $10.97, the closing price of the Company's common stock on June 26, 2006.  The number of stock options granted to each executive officer of the Company are as follows: (1) 275,000 options to Mr. Richard P. Buckanavage, President and Chief Executive Officer; (2) 275,000 options to Mr. Timothy W. Hassler, Chief Operating Officer and Chief Compliance Officer; (3) 165,000 options to Mr. Matthew R. Colucci, Executive Vice President and Managing Director; (4) 32,500 options to Mr. William E. Alvarez, Jr., Executive Vice President, Chief Financial Officer and Secretary; and (5) 32,500 options to Mr. Clifford L. Wells, Executive Vice President and Chief Investment Officer.  The stock options vest over three years at a rate of 1/36th per month.
  As provided for in the Amended Stock Option Plan, the stock option awards are subject to the terms and restrictions provided for in the form of stock option agreement filed as exhibit (i)(2) to Amendment No.1 to the Company's Registration Statement on Form N-2 filed with the Securities and Exchange Commission on July 13, 2005 (File No. 333-124831).
  Top of the Form
  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.
  Patriot Capital Funding, Inc.
  June 29, 2006
  By:
  /s/ William E. Alvarez, Jr.
  Name: William E. Alvarez, Jr.
  Title: Executive Vice President, Chief Financial Officer and Secretary