SBIC formation

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by a searcher from Columbia University - Columbia Business School
in New York, NY, USA

8mos ago

SBIC formation

I'm looking into setting up an SBIC and wanted to see if any one had any experience with this process or insight on the application requirements

1 Like

97 Views

reply by a searcher 8mos ago
from Babson College in Long Island, New York, USA

Very ambitious. It is extremely hard to qualify for an SBIC equity fund. you need to have a significant amount of track record with demonstrated returns in the specific strategy, even for just an unlevered SBIC. Also, there are a number of nuanced structural considerations that you need to take into account as well. To get it done you will definitely need to partner with a legal firm that knows the ins and outs - there are a few specifically and one in particular that does the most of these. the legal fees will be 6 figures for sure. If that doesn't dissuade you, I'm happy to talk about our experience. We were short listed after going through all the process which was quite extensive, but they told us to come back for fund 2 after we could demonstrated returns in this specific strategy.

reply by a searcher 8mos ago
from University of Washington in Manhattan, New York, NY, USA

Kris is spot-on here. A long arduous road ..I would start with an SBA pro lawyer and get current temperature at SBA. There might be new tracks/priorities with the new Administration. Also try networking with newly approved first fund SBICs.