SBA blamed for flagging small-business investment program
americanbanker | August 07, 2019
Activity within a popular Small Business Administration program has fallen off significantly amid claims of mismanagement. Funding that SBA provides to small-business investment companies, or SBICs, fell more than 30% in the first half of the 2019 fiscal year from a year earlier, to $690 million, according to the Small Business Investor Alliance, an association of senior investment officials dedicated to promoting private capital. Licensing of new SBICs decreased by 42%, to just 7.