News & Analysis as of

Investment Small Business Administration Debentures

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More Than $1.6B in SBA Debenture Leverage Priced at 5.035%

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Licensed by the U.S. Small Business Administration (SBA) under the Small Business Investment Act of 1958, a small business investment company (SBIC) represents a privately owned and operated investment fund that makes...more

Hogan Lovells

SBIC Program Updates: SBA Proposes Technical Amendments to 2023 Reforms and Significant Change to Passive Business Rule

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In July 2023, the U.S. Small Business Administration (SBA) released sweeping reforms to the Small Business Investment Company (SBIC) program. Many of those reforms were enacted through the Small Business Investment Company...more

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SBA’s New Rules and Policies to Strengthen and Diversify Its SBIC Program

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A small business investment company (SBIC) is a privately owned and operated investment fund that makes long-term investments in American small businesses and is licensed by the U.S. Small Business Administration (SBA). SBICs...more

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Description of the Small Business Investment Company Program Participation by Unleveraged Funds — Updated May 2023

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The SBIC Program - A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the U.S. Small Business...more

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Description of the Small Business Investment Company Program Participation by Unleveraged Funds — Updated March 2023

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The SBIC Program - A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the U.S. Small Business...more

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Description of the Small Business Investment Company Debenture Program — Updated March 2023

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The SBIC Program - A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the U.S. Small Business...more

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More Than $1.737B in SBA Debenture Leverage Priced at 5.168%

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Licensed by the U.S. Small Business Administration (SBA) under the Small Business Investment Act of 1958, a small business investment company (SBIC) represents a privately owned and operated investment fund that makes...more

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Description of the Small Business Investment Company Program Participation by Unleveraged Funds (UPDATED)

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The SBIC Program A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the U.S. Small Business Administration...more

Hogan Lovells

SBA announces proposed reforms to SBIC program – new Accrual SBIC for growth equity funds

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The U.S. Small Business Administration (SBA) proposed wide-ranging revisions to the regulations governing the small business investment company (SBIC) program on Tuesday, October 18, 2022. Among other things, the proposed...more

Bass, Berry & Sims PLC

SBA Proposes Accrual SBIC Licenses and Debentures as Part of SBIC Program Reform

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On October 19, the U.S. Small Business Administration (SBA) published proposed rules in the Federal Register to significantly amend the regulations governing the Small Business Investment Company (SBIC) program. The proposal,...more

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Description of the Small Business Investment Company Debenture Program (UPDATED)

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the U.S. Small Business Administration (SBA or...more

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More Than $2 Billion in SBA Debenture Leverage Priced at 2.938%

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Licensed by the U.S. Small Business Administration (SBA) under the Small Business Investment Act of 1958, a small business investment company (SBIC) represents a privately owned and operated investment fund that makes...more

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More Than $1 Billion in SBA Debenture Leverage Priced at Near-Record Low

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A small business investment company (SBIC) is a privately owned and operated investment fund that makes long-term investments in U.S. small businesses and is licensed by the U.S. Small Business Administration (SBA) under the...more

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Description Of The Small Business Investment Company Program Participation By Unleveraged Funds - January 2020

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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More Than $991 Million in SBA Debenture Leverage Priced

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A small business investment company (SBIC) is a privately owned and operated investment fund that makes long-term investments in U.S. small businesses and is licensed by the U.S. Small Business Administration (SBA) under the...more

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Description of the Small Business Investment Company Debenture Program - September 2019

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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Description Of The Small Business Investment Company Program Participation By Unleveraged Funds - May 2019

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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Description of the Small Business Investment Company Debenture Program - May 2019

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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Description of the Small Business Investment Company Debenture Program - April 2019

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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Description of the Small Business Investment Company Debenture Program - March 2019

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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More Than $986 Million in SBA Debenture Leverage Priced

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A small business investment company (SBIC) is a privately owned and operated investment fund that makes long-term investments in U.S. small businesses and is licensed by the U.S. Small Business Administration (SBA) under the...more

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Description of the Small Business Investment Company Debenture Program - October 2018

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

McGuireWoods LLP

A Summary of the SBIC Progarm

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BACKGROUND AND CURRENT STATE OF THE SBIC PROGRAM - The Small Business Investment Company (SBIC) Program enables private equity fund managers to access government leverage at rates typically lower than traditional lending...more

McGuireWoods LLP

Spring 2018 SBIC Debenture Coupon Rate Increases to 3.187%

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March 28, 2018 In March 2018, the SBIC Funding Corporation completed a pooling of SBA debentures in the amount of $1,086,275,000. The SBA debentures have a coupon rate of 3.187 percent. This most recent pricing reflects an...more

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Description of the Small Business Investment Company Debenture Program - January 2018

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A Small Business Investment Company (SBIC) is a privately owned and operated company that makes long-term investments in American small businesses and is licensed by the United States Small Business Administration (SBA)....more

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