Policy Letters

• Impact Investment Policy Letter – April 2011: Policy letter outlining the major elements of the Investment Division’s new Impact Investment Initiative. 
• Buyout of Participating Securities SBICs Policy Letter – January 2011: Policy letter describing the changes to SBA’s policy regarding “buyouts” of Small Business Investment Companies (“SBICs”) with outstanding participating securities leverage.
• Refinancing Policy Letter

Tech Notes

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Credit and Risk Management Procedures

• Number 5 (November 2000): Credit Management Procedures

• Number 10 (December 2003): Post-Licensing SBIC Risk Management Procedures

  • Risk Assessment Worksheet: Participating Security Funds [Microsoft Excel]

  • Risk Assessment Worksheet: Debenture Funds [Microsoft Excel]

• Number 11 (November 2005): Guidelines for Issuance of Debenture Leverage Committments to Participating Securities SBICs

• Number 12 (August 2007): Guidelines Concerning Valuation Issues

• Number 13 (March 2009): Guidelines Concerning Debenture Applicants Structured as a Business Development Company or BDC Subsidiary

• Number 14 (November 2009): Fast Track Process for Small Business Investment Companies Seeking a Subsequent License

• Number 15 (October 2010): Guidelines Concerning the Use of Side Letters and Withdrawal Provisions in SBA’s Model Limited Partnership Agreement (LPA)

Distributions

• Number 6 (November 2000): Guidelines Concerning In-Kind Distributions of Equity Securities

• Number 16 (August 2012): Guidance Regarding 13 CFR §107.585 Voluntary Decrease in Licensee’s Regulatory Capital for Early Stage SBICs

Expenses

• Number 7 (December 2000): Guidelines Concerning Allowable Management Expenses for Leveraged SBICs

• Number 7a (December 2003): Cover Memo for Number 7A [Microsoft Word]

• Number 7a (December 2003, Updated April 2008): Guidelines Concerning Allowable Management Expenses for Leveraged SBICs

Investments/Transactions

• Number 1 (January 1998): Technology Transfer and Seed Capital Investments

• Number 8 (April 2002): Guidelines for SBA Approval of Conflict Of Interest Transactions

• Number 9 (April 2002): Guidelines for SBA Approval of Requests for Overline Investments

Reporting

• Number 2 (March 1998): Electronic Reporting Of Annual Financial Statements and Portfolio Financing Reports Using Internet Electronic Mail

• Number 3 (May 1998): Guidelines for Completion of "Control Certification" By Licensees

• Number 4 (July 1998): Reporting Portfolio Valuations to SBA

View by release date (most recent listed first):