[Federal Register Volume 79, Number 64 (Thursday, April 3, 2014)]
[Notices]
[Page 18750]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-07303]


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SMALL BUSINESS ADMINISTRATION


Small Business Investment Companies--Early Stage SBICs

AGENCY: U.S. Small Business Administration.

ACTION: Notice; Extension of deadlines for Early Stage fund managers.

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SUMMARY: On February 4, 2014, the U.S. Small Business Administration 
(``SBA'') published a Call for Early Stage Fund Managers (the ``Call'') 
in the Federal Register to submit the preliminary materials discussed 
in Section II of the Call for consideration to be licensed as Early 
Stage Small Business Investment Companies (``SBICs''). As set forth in 
the DATES section below, this notice modifies the current deadlines for 
the submission of such materials, as well as the dates for various 
steps in the Early Stage SBIC licensing process.

DATES: The deadlines for material requested in the SBA notice published 
on February 4, 2014 (79 FR 6664) are modified. The following table 
provides the modified dates for the Early Stage SBIC Initiative.

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                  Milestones                          Dates/times
------------------------------------------------------------------------
Question and Answer Period Closes............  5 p.m. Eastern Time
                                                (``ET'') on May 16,
                                                2014.
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                          Initial Review Period
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Management Assessment Questionnaires           5 p.m. ET-May 16, 2014.
 (``MAQs'') Due.
Interview Period.............................  June 30, 2014-July 8,
                                                2014.
Anticipated Greenlight Decision..............  June 30, 2014-July 8,
                                                2014.
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                            Licensing Periods
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For funds with $20M of Regulatory Capital      5 p.m. ET July 31, 2014.
 seeking a license in FY 2014.
Anticipated Licensing Date for FY 2014 funds.  September 30, 2014.
All other funds have 12 months from issuance   Applications considered
 of a Greenlight to submit their license        as they are received.
 application.
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Notes:
 SBA reserves the right to extend its interview, due diligence,
  committee, and approval timelines, as appropriate. SBA will update its
  Web site at www.sba.gov/inv/earlystage should these dates change.
  Applicants will be notified by e-mail should these dates change.
 SBA expects to issue additional calls for Early Stage Fund
  Managers on an annual basis. SBA will announce these calls via a call
  notice in theFederal Register.


ADDRESSES: Visit www.sba.gov/inv/MAQ to download a copy of the 
Management Assessment Questionnaire (the ``MAQ''). You must submit via 
express or next day delivery service (i) the relevant MAQ signature 
pages and (ii) the completed MAQ on a CD-ROM in Word and Excel format 
to the following: Scott Schaefer, Senior Investment Officer, Office of 
Investment and Innovation, U.S. Small Business Administration, 409 3rd 
St. SW., Suite 6300, Washington, DC 20416.

SBA will not accept MAQs in .pdf format or MAQs delivered via (i) 
regular mail due to irradiation requirements, or (ii) hand delivery or 
courier service.

SUPPLEMENTARY INFORMATION: The Early Stage SBIC Initiative is part of 
President Obama's ``Start-Up America Initiative'' to promote American 
innovation and job creation by encouraging private sector investment in 
job-creating startups and small firms, accelerating research, and 
addressing barriers to success for entrepreneurs and small businesses. 
By licensing and providing SBA guaranteed leverage to Early Stage 
SBICs, SBA seeks to expand entrepreneurs' access to capital and 
encourage innovation. More information on the Early Stage SBIC 
Initiative and the regulations governing these SBICs may be found at 
www.sba.gov/inv/earlystage.
    For further information, refer to the Call for Early Stage Fund 
Managers, published in the Federal Register at 79 FR 6664 (February 4, 
2014).

Pravina Raghavan,
Deputy Associate Administrator, Office of Investment and Innovation.
[FR Doc. 2014-07303 Filed 4-2-14; 8:45 am]
BILLING CODE 8025-01-P