On October 4, 2012, the U.S. Small Business Administration (“SBA”) issued a notice revising the semi-monthly leverage draw application schedule for Small Business Investment Companies (“SBICs”) during the upcoming holiday season as follows:

  • 1st draw application cycle in November: Filing deadline changed to Wednesday, October 31, 2012 & Approval Notice issue date changed to Wednesday, November 7, 2012;
  • 2nd draw application cycle in November: Filing deadline changed to Wednesday, November 14, 2012 & Approval Notice issue date changed to Wednesday, November 21, 2012;
  • 1st draw application cycle in December: Filing deadline changed to Wednesday, November 28, 2012 & Approval Notice issue date changed to Wednesday, December 5, 2012; and
  • 2nd draw application cycle in December: Filing deadline changed to Wednesday, December 12, 2012 & Approval Notice issue date changed to Wednesday, December 19, 2012.

Please note: these are one-time changes for this holiday season only, with draw windows beginning a week early for both November and December. There are no other changes in the funding schedule. Both draw application cycles for October will remain unchanged with the 1st Wednesday cutoff date for draw requests already concluded, and the 3rd Wednesday cutoff date scheduled for October 17th; and with the 2nd Wednesday and 4th Wednesday scheduled as the issue dates for draw Approval Notices.

The SBA will revert to its normal monthly funding schedule again in January 2013 with the 1st and 3rd Wednesdays by 10:30 AM (Eastern) as the cutoff time for acceptance of Draw Applications and the 2nd and 4th Wednesdays as the issue date for Approval Notices.

These date changes will allow SBA to provide SBICs with the same funding availability during this busy holiday season. If you have any questions, please contact the Office of Investment’s Funding Control Officer, Johnny Kitts, at (202) 205-7587.