All the while, we've maintained sound credit quality and positioned ourselves to take advantage of tremendous demand as we fulfill our mission of putting capital to work in the middle market. It was a remarkable year. In particular, the securitization has contributed to the maturation of our balance sheet. We are now able to layer in term debt to continue to prudently leverage our business. Access to this funding source also broadens our sources of capital, and strengthens our ability to serve our marketplace.
Credit quality remains strong, with only one loan on non-accrual.
Forecast Commencing in 2001, American Capital will issue guidance on the Company's budgeted performance for the upcoming fiscal year. Discussed below are American Capital's forecasts of results for the year ended December 31, 2001. The timing of the new investments will be somewhat weighted toward the second half of the year and the yield on these new investments should be comparable with the yield achieved on investments in 2000. The amount of new investments will depend on the market for quality investments, American Capital's capital resources and its success at placing new investments. In order to manage the growth in the investment portfolio, additional employees will be hired in 2001.