October 26, 2010

Via Electronic Submission

United States Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549

Re:		Horizon Technology Finance Corporation Registration Statement on Form N-2 File No. 333-165570

Ladies and Gentlemen:

In accordance with Rule 461 of the General Rules and Regulations under the Securities Act of 1933, as amended, Morgan Stanley & Co. Incorporated and UBS Securities LLC, as representatives of the several Underwriters, hereby join in the request of Horizon Technology Finance Corporation that the effective date of the above-captioned Registration Statement be accelerated so that the same will become effective on October 28, 2010 at 4:00pm, New York City time, or as soon as practicable thereafter.

The following is supplemental information supplied under Rule 418(a)(7) and Rule 460 under the Securities Act of 1933:

	(i)		Date of preliminary prospectus: October 18, 2010
	(ii)		Dates of distribution: October 18, 2010 — October 28, 2010
	(iii)		Number of prospective underwriters to whom the preliminary prospectus was furnished: 8
	(iv)		Number of prospectuses so distributed: approximately 9,890
	(v)		We have been informed by the participating underwriters that they have complied and will comply with the requirements of Rule 15c2-8 under the Securities Exchange Act of 1934.

Very truly yours,

MORGAN STANLEY & CO. INCORPORATED
UBS SECURITIES LLC

As representatives of the several Underwriters

		MORGAN STANLEY & CO. INCORPORATED
By:		/s/ Kenneth G. Pott   Name: Kenneth G. Pott
		Title:   Managing Director
		UBS SECURITIES LLC
By:		/s/ Christopher Gastelu   Name: Christopher Gastelu
		Title:   Managing Director
By:		/s/ Kenneth Kim   Name: Kenneth Kim
		Title:   Associate Director