Spurring Business in Communities Act of 2018 2018-03-19 Reported to Senate with amendment(s) Spurring Business in Communities Act of 2018

(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:

  • require the Small Business Administration (SBA), in reviewing and processing an entity's application to become a small business investment company (SBIC), to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and
  • exempt applicants in underlicensed states from certain SBA capital requirements.
]]> 2017-10-24 Introduced in Senate Spurring Business in Communities Act of 2017

This bill amends the Small Business Investment Act of 1958 to:

  • require the Small Business Administration (SBA), in reviewing and processing an entity's application to become a small business investment company (SBIC), to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and
  • exempt applicants in underlicensed states from certain SBA capital requirements.
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