Ultra-high-yield dividend stocks can be excellent sources of passive income for individuals seeking financial independence. But this comes with a caveat: Not all ultra-high yields are safe.

But the business development company (BDC), Main Street Capital (NYSE: MAIN) appears to pay a safe, monthly dividend to its shareholders. Let's dig into whether the stock is a good fit for your portfolio.

For those who are unfamiliar with the function of a BDC, these companies provide capital to smaller businesses and/or less proven businesses to fund future growth opportunities. In return for these funds, the businesses issue equity stakes to the BDCs and/or debt stakes bearing high interest rates.

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Source Fool.com