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Startups Debentures

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

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

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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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Description of the Small Business Investment Company Program Participation by Unleveraged Funds - January 2017

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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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SBA Proposes Updates and Improvements to Early Stage SBIC Program

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The proposed rule reflects SBA’s intent to continue licensing and providing SBA-guaranteed leverage to Early Stage SBICs beyond the initial five-year term previously announced. On September 19, the U.S. Small Business...more

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Small Business Administration Issues Call for Early Stage Managers

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Call Notice and Application Process - On January 12, the U.S. Small Business Administration (SBA) issued a “Call for Early Stage Fund Managers” in the Federal Register, inviting all interested early stage fund managers...more

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