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What are the rules governing control situations by an SBIC?

April 26, 2017CONTROL rules sbic situations

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What are the rules governing control situations by an SBIC?

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An SBIC is permitted to control, either directly or indirectly, a small business for a maximum period of 7 years. With SBA’s prior written approval, an SBIC may retain control for such additional period as may be reasonably necessary to complete divestiture of control or to ensure the financial stability of the portfolio company.