October 1, 2007

VIA EDGAR AND ELECTRONIC DELIVERY

Christian T. Sandoe, Esq.

United States Securities and Exchange Commission

Division of Investment Management

100 F Street, N.E.

Washington, D.C. 20549

Re:		Gladstone Investment Corporation
		Registration Statement on Form N-2
		Filed October 16, 2006
		Registration No. 333-138008

 

Dear Mr. Sandoe:

The undersigned registrant hereby requests that the Securities and Exchange Commission take appropriate action to cause the above-referenced registration statement to be declared effective on October 2, 2007 at 4:00 p.m. Eastern Daylight Time or as soon thereafter as practicable.

Very truly yours,
GLADSTONE INVESTMENT CORPORATION
By:		/s/ Harry Brill
		Harry Brill
		Chief Financial Officer
cc:		Thomas R. Salley, Esq.