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SBIC annual recertification of Institutional Investor status

Edwards Wildman Palmer LLP
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USA
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May 9 2013

On May 8, 2013, the U.S. Small Business Administration ("SBA") issued Memorandum 2013-1 regarding annual recertification of the Institutional

The SBA issues new instructions for SBICs drawing leverage

Edwards Wildman Palmer LLP
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USA
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March 8 2013

The U.S. Small Business Administration (the "SBA") recently issued new instructions governing the draw request (a "Draw Request") that small business

SBA issues SBIC TechNote 17 concerning the determination of common control of two or more SBICs

Edwards Wildman Palmer LLP
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USA
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February 20 2013

On February 12, 2013, the SBA issued SBIC TechNote 17, which provides guidance on the criteria the SBA will consider in determining whether two or

SBA notifies of changes in the SBIC leverage draw application schedule for the upcoming holiday season

Edwards Wildman Palmer LLP
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USA
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October 9 2012

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

Track 2 deadline for new SBIC program for early stage investments is June 19, 2012

Edwards Wildman Palmer LLP
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USA
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June 4 2012

On May 1, 2012, the U.S. Small Business Administration (SBA) released a Federal Register Call Notice inviting fund managers to submit preliminary materials, in the form of the Management Assessment Questionnaire (MAQ), for consideration by the SBA to be licensed as part of the new Early Stage Small Business Investment Company (SBIC) program

A SBIC’s control of a small business is limited to seven years

Edwards Wildman Palmer LLP
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USA
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February 24 2012

Pursuant to the regulations governing Small Business Investment Companies (“SBICs”), an SBIC is permitted to make a controlling investment in a portfolio company

SBA releases proposed rules to govern new early stage investment

Edwards Wildman Palmer LLP
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USA
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December 14 2011

On January 31, 2011, President Obama announced an initiative called “Start-up America,” which is a program designed to promote high-growth entrepreneurship in the United States

SBA further revises Form 468 reporting obligations in response to industry concerns

Edwards Wildman Palmer LLP
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USA
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October 25 2011

In response to Industry concerns, the U.S. Small Business Administration (SBA) has revised the reporting requirements of SBA form 468 in an effort to reduce the compliance burdens on Small Business Investment Companies (SBICs

New record low interest rate for latest pooling of SBIC debentures announced

Edwards Wildman Palmer LLP
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USA
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September 22 2011

The U.S. Small Business Administration (SBA) has announced that the latest pooling of Small Business Investment Company (SBIC) Debentures was priced at 2.877, which is the lowest pricing of a debenture pooling in the history of the SBIC program

SBA creates “fast track” SBIC licensing process for repeat funds

Edwards Wildman Palmer LLP
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USA
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November 11 2009

On November 2, 2009, the Small Business Administration’s ("SBA") Office of Investment released TechNote 14 ("Fast Track Process for Small Business Investment Companies Seeking a Subsequent License"), which implements an expedited review process for evaluation and approval of Small Business Investment Company ("SBIC") license applications for applicants operated by managers of current SBICs