Bipartisan bill would ensure accurate disclosure to small business investors WASHINGTON, D.C. (June 25, 2020) – The Small Business Investor Alliance (SBIA), the premiere association representing Business Development Companies (“BDCs”) and lower middle market private equity and its investors, today announced that bipartisan legislation has been introduced by Rep. Brad Sherman (D-CA) and Rep. Steve Stivers (R-OH) that [...]
By BDC Council | May 15, 2020 New guidance from the Internal Revenue Service allows RICs and REITs to retain more capital by distributing less cash to shareholders in certain stock distributions—welcome relief during the current economic volatility resulting from the coronavirus (COVID-19) pandemic. “The new guidance temporarily expands the existing safe harbor of Revenue Procedure [...]
WASHINGTON, D.C. (April 16, 2020) -- On April 9, the Federal Reserve announced initial details of the Main Street Lending Program (MSLP), which will establish a credit facility intended for small and midsize businesses that are facing a credit squeeze in the wake of the COVID-19 pandemic. The program consists of a Main Street New Loan [...]
By BDC Council | April 8, 2020 The SEC continues to undertake operational initiatives, market-focused actions, and investor protection efforts as well as enact targeted assistance and relief in response to the effects of COVID-19. “BDCs were created to provide capital to smaller domestic operating companies that otherwise may not be able to readily access [...]
Bill gives fair and equitable treatment to shareholders in small and medium size American businesses WASHINGTON, D.C. (April 7, 2020) – The Small Business Investor Alliance (SBIA), the leading association for lower middle market private equity and its investors, today announced that legislation has been introduced by Rep. Brendan Boyle (D-PA) and Rep. Jodey Arrington (R-TX). The bipartisan [...]
By BDC Council | March 27, 2020 Please see the attached letter sent to the SEC on behalf of BDCs requesting temporary measures to support capital flow into small- and medium-sized businesses. “BDCs need reasonable, temporary regulatory accommodation to protect their shareholders and to fulfill their statutory mission to support small and medium-sized businesses. Without this requested relief, [...]
By BDC Council | March 5, 2020 Please see the attached bipartisan letter sent to the SEC by 4 senior Members of Congress including the Chair and Ranking Member of the House Financial Services Capital Markets Subcommittee. “Not only is the application of AFFE disclosure requirements to BDCs inconsistent with the statutory mandate for BDCs, it is [...]
By SBIA | February 28, 2020 On February 28, Brett Palmer, President, Small Business Investor Alliance (SBIA); Nelson Griggs, Executive Vice President, NASDAQ; Tom Quaadman, Executive Vice President, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce; Jason Mulvihill, Chief Operating Officer & General Counsel, American Investment Council (AIC); and Tony Chereso, President and CEO, Institute [...]
By BDC Council | July 8, 2019 The SEC hosted its annual Forum on Small Business Capital Formation in Dec 2018. Working through the Office of Small Business Policy, the final report of 2018 Forum recommendations was published last week. The Forum has assembled annually since 1982, as mandated by the Small Business Investment Incentive Act [...]
By SBIA | March 7, 2018 SBIA's BDC Council is pleased to announce that the bipartisan BDC Modernization Bill has received the endorsement of the National Federation of Independent Business (NFIB). Introduced by Senators Dean Heller (R-NV) and Joe Manchin (D- WV), the Small Business Credit Availability Act (S. 2324 creates) a modern regulatory framework [...]