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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 I9jkARPUMCi6R33xnHI9wWLxXAzLiMifOtpwxmI0sjp+Mb1SHJ9wVG70VHC2xyFH
 t9FbrpV22R4IAZNbv5TdQQ==

<SEC-DOCUMENT>0001181431-09-015912.txt : 20090317
<SEC-HEADER>0001181431-09-015912.hdr.sgml : 20090317
<ACCEPTANCE-DATETIME>20090317095611
ACCESSION NUMBER:		0001181431-09-015912
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090313
FILED AS OF DATE:		20090317
DATE AS OF CHANGE:		20090317

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RUBENSTEIN SAMUEL G
		CENTRAL INDEX KEY:			0001203899

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00239
		FILM NUMBER:		09686575

	MAIL ADDRESS:	
		STREET 1:		C/O MCG CAPITAL CORP
		STREET 2:		1100 WILSON BOULEVARD, STE. 800
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCG CAPITAL CORP
		CENTRAL INDEX KEY:			0001141299
		IRS NUMBER:				541889518
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1100 WILSON BLVD
		STREET 2:		SUITE 800
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22209
		BUSINESS PHONE:		7032477500
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd237214.xml
<DESCRIPTION>RUBENSTEIN FORM 4 (MARCH 2009)
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-03-13</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001141299</issuerCik>
        <issuerName>MCG CAPITAL CORP</issuerName>
        <issuerTradingSymbol>MCGC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203899</rptOwnerCik>
            <rptOwnerName>RUBENSTEIN SAMUEL G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1100 WILSON BOULEVARD, SUITE 3000</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>22209</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-03-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.88</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>320450</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Samuel G. Rubenstein</signatureName>
        <signatureDate>2009-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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