May an NMVCC applicant or an SSBIC applicant raise more or less regulatory capital and/or grant matching resources than originally requested in its application?
NMVCC applicants and SSBIC applicants may raise only the amounts of regulatory capital and grant matching resources proposed in their applications. SBA will be selecting applicants for conditional approval based on SBA’s consideration of the applications as submitted, including the amounts of regulatory capital and grant matching resources stated in the application. Applicants will not be allowed, in effect, to change their applications after initial submission, by changing the amounts of regulatory capital and grant matching resources they raise. If an applicant raises more or less regulatory capital or grant matching resources than stated in its application, SBA will not finally approve that applicant. The NMVC regulations do not preclude applicants from using additional capital it wishes to raise for a separate fund, which could be a co-investor, side-by-side fund, and/or SBIC.
Related Questions
- Can potential investors provide additional capital for the purpose of meeting an NMVCC applicants or an SSBIC applicants required match for operational assistance grants?
- How much time does a conditionally approved NMVCC have to raise its capital and grant matching resources?
- Would an applicant who provides matching funds receive a competitive advantage?
