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) December 6, 2006

                          Gladstone Capital Corporation
             (Exact name of registrant as specified in its chapter)

          Maryland                     814-00237                 54-2040781
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)

              1521 Westbranch Drive, Suite 200
                      McLean, Virginia                                  22102
          (Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code: (703) 287-5800


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))



Item 2.02 Results of Operations and Financial Condition.

On December 6, 2006, Gladstone Capital Corporation issued a press release
announcing its financial results for the fiscal year and three months ended
September 30, 2006. The text of the press release is included as an exhibit to
this Form 8-K. Pursuant to the rules and regulations of the Securities and
Exchange Commission, such exhibit and the information set forth therein and
herein are deemed to be furnished and shall not be deemed to be filed.

Item 9.01 Financial Statements and Exhibits.

         (a) Not applicable.

         (b) Not applicable.

         (c) Not applicable.

         (d) Exhibits.

               Exhibit No.               Description
               -----------               -----------

               99.1                      Press release dated December 6, 2006





                                   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.

                                      Gladstone Capital Corporation
                                              (Registrant)
December 6, 2006                           By:/s/ Harry Brill
                                           ------------------
                                 (Harry Brill, Chief Financial Officer)





                                  EXHIBIT INDEX


Exhibit No.                         Description
-----------                         -----------

99.1                                Press release dated December 6, 2006