March 26, 2014 · Filed under Government Resources and Information · Tagged business work, federal government website, government, government resources, SBIC, small business administration, Small Business Investment Company, U.S. Small Business Administration
The Small Business Investment Company (SBIC) program, part of the U.S. Small Business Administration (SBA), was created in 1958 to fill the gap between the availability of venture capital and the needs of small businesses in start-up and growth situations. SBICs exist to supply equity capital, longterm loans and management assistance to qualifying small businesses.The privately owned and operated SBICs use their own capital and funds borrowed from the U.S. Small Business Administration (SBA) to provide financing to small businesses in the form of equity securities and longterm loans. SBICs are profitseeking organizations that select small businesses to be financed within rules and regulations set by SBA. Specialized SBICs (SSBIC) are a particular type of SBIC that provide assistance solely to small businesses owned by socially or economically disadvantaged persons.
SBICs invest in a broad range of industries. Some SBICs seek out small businesses with new products or services because of the strong growth potential of such firms. Some SBICs specialize in the field in which their management has special competency. Most SBICs, however, consider a wide variety of investment opportunities.
General Program Requirements
To obtain SBIC financing, you should first identify and investigate existing SBICs that may be interested in financing your company. Use the SBIC directory as a first step in learning as much as possible about SBICs in your state, or in other areas important to your company’s needs. In choosing an SBIC, consider the types of investments it makes, how much money is available for investment and how much might be available in the future. You should also consider whether the SBIC can offer you management services appropriate to your needs. Only companies defined by SBA as “small” are eligible for SBIC financing.
Loan Terms
This program provides equity investment as opposed to debt financing. The difference is that debt involves a loan that needs to be repaid on certain terms. An equity investment involves an Investment company that buy a piece of your business. They become co-owners in the business. These type of investments are negotiated by the investor and the company and therefore do not have standard terms like a debt financing (loan) program. More information about preparing for the investment is located at:
http://www.sba.gov/aboutsba/sbaprograms/inv/esf/inv_sbic_financing.html.
Application Process
To find information about active SBICs, please visit the National Association of Small Business Investment Companies (NASBIC) website at:http://www.nasbic.org
March 26, 2014 · Filed under Government Resources and Information · Tagged federal government website, government, health care, health coverage, health insurance, Health Insurance Marketplace
If you don’t have health insurance, or would like to change your coverage, you still have time to apply. March 31 is the last day you can enroll in 2014 coverage through the Health Insurance Marketplace. After March 31, you won’t be able to apply until the next open enrollment, unless you experience a qualifying life event. Get more information on how to apply for health coverage. https://www.healthcare.gov/how-do-i-apply-for-marketplace-coverage/
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