Law360, New York (January 9, 2012, 4:40 PM EST) -- The U.S. Small Business Administration recently published proposed rules to govern the licensing of Early Stage Small Business Investment Company funds and the issuance and repayment of the debentures issued to Early Stage SBIC funds.
During the past seven years, SBA has not granted SBIC licenses to venture capital and private equity funds that solely finance early stage companies due to the inherent risk posed by investments in portfolio companies with no earnings track record. However, beginning in 2012, SBA will commit up to $200 million per year for five years (up to $1 billion total) to Early Stage SBIC funds,...
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