Exhibit 10.1

EXECUTION VERSION

AMENDMENT NO. 2  TO  CREDIT AGREEMENT

THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT (this "Amendment") dated as of July 25, 2007, is entered into
among GLADSTONE BUSINESS INVESTMENT, LLC, as the Borrower, DEUTSCHE BANK AG, CAYMAN ISLAND BRANCH, as a Committed Lender (the "Committed Lender"),
DEUTSCHE BANK AG, NEW YORK BRANCH ("Deutsche Bank") as Managing Agent (in such capacity, collectively the "Managing
Agent") and Deutsche Bank as Administrative Agent (in such capacity, the "Administrative Agent"). Capitalized terms used herein
without definition shall have the meanings ascribed thereto in the "Credit Agreement" referred to below.

PRELIMINARY STATEMENTS

A.    Reference
is made to that certain Credit Agreement dated as of October 19, 2006 among the Borrower, Gladstone Management Corporation, as Servicer, the CP Lenders,
the Committed Lenders, the Managing Agents and the Administrative Agent (as amended, modified or supplemented from time to time, the "Credit
Agreement").

B.    The
parties hereto have agreed to amend certain provisions of the Credit Agreement upon the terms and conditions set forth herein.

SECTION
1.Amendment.Subject to the satisfaction of the conditions set forth in Section 3hereof, the parties
hereto hereby agree:



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SECTION
2.Representations and Warranties.The Borrower hereby represents and warrants to each of the other
parties hereto, that:



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SECTION
3.Conditions.



SECTION
4.Reference to and Effect on the Transaction Documents.



SECTION
5.Execution in Counterparts.This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same
instrument. Delivery of an executed counterpart of a signature page to this Amendment by telecopier or electronic delivery shall be effective as delivery of a manually executed counterpart of this
Amendment.

SECTION
6.Governing Law.This Amendment shall be governed by and construed in accordance with the laws of the
State of New York.

SECTION
7.Headings.Section headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other purpose.

SECTION
8.Fees and Expenses.The Borrower further hereby confirms its agreement to pay on demand all reasonable
costs and expenses of the Administrative Agent, Managing Agents or Lenders in connection with the preparation, execution and delivery of this Amendment and any of the other instruments, documents and
agreements to be executed and/or delivered in connection herewith, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel to the
Administrative Agent, Managing Agents or Lenders with respect thereto.

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective officers as of the date first above written.

| |  | GLADSTONE BUSINESS INVESTMENT, LLC
| |  | ----------------------------------
| |  | By:                               
| |  |                                   
| |  |                                   

Signature
Page to Amendment No. 2 to Credit AgreementGladstone Business Investment, LLC

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| |  | DEUTSCHE BANK AG, CAYMAN ISLAND BRANCH, as sole Committed Lender                  
| |  | ----------------------------------------------------------------------------------
| |  | By:                                                                               
| |  |                                                                                   
| |  |                                                                                   
| |  | By:                                                                               
| |  |                                                                                   
| |  |                                                                                   
| |  | DEUTSCHE BANK AG, NEW YORK BRANCH, as a Managing Agent and as Administrative Agent
| |  | By:                                                                               
| |  |                                                                                   
| |  |                                                                                   
| |  | By:                                                                               
| |  |                                                                                   
| |  |                                                                                   

Signature
Page to Amendment No. 2 to Credit AgreementGladstone Business Investment, LLC

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EXHIBIT N

|1  | Aerospace and Defense                                                
|-- | ---------------------------------------------------------------------
|2  | Automobile                                                           
|3  | Banking                                                              
|4  | Beverage, Food and Tobacco                                           
|5  | Buildings and Real Estate                                            
|6  | Chemicals, Plastics and Rubber                                       
|7  | Containers, Packaging and Glass                                      
|8  | Personal and Non-Durable Consumer Products (Manufacturing Only)      
|9  | Diversified/Conglomerate Manufacturing                               
|10 | Diversified/Conglomerate Service                                     
|11 | Diversified Natural Resources, Precious Metals and Minerals          
|12 | Ecological                                                           
|13 | Electronics                                                          
|14 | Finance                                                              
|15 | Farming and Agriculture                                              
|16 | Grocery                                                              
|17 | Healthcare, Education and Childcare                                  
|18 | Home and Office Furnishings, Housewares and Durable Consumer Products
|19 | Hotels, Motels, Inns and Gaming                                      
|20 | Insurance                                                            
|21 | Leisure, Amusement, Motion Pictures, Entertainment                   
|22 | Machinery (Non-Agriculture, Non-Construction and Non-Electronic)     
|23 | Mining, Steel, Iron and Non-Precious Metals                          
|24 | Oil and Gas                                                          
|25 | Personal, Food and Miscellaneous Services                            
|26 | Printing and Publishing                                              
|27 | Cargo Transport                                                      
|28 | Retail Store                                                         
|29 | Telecommunications                                                   
|30 | Textiles and Leather                                                 
|31 | Personal Transportation                                              
|32 | Utilities                                                            
|33 | Broadcasting and Entertainment                                       
|34 | CDO/ABS                                                              

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