What is the difference between the purposes of the NMVC program and those of the Specialized Small Business Investment Company (SSBIC) program?
NMVCCs target entire communities for business investments while SSBICs seek business investments in small businesses owned by individuals that are socially or economically disadvantaged. NMVCCs focus on the geographic location rather than on the ownership of small businesses. However, SSBICs are eligible to apply for grant funds under the NMVC program to provide operational assistance to businesses located in LI areas, if such SSBICs plan to raise additional capital and use it to make developmental venture capital investments in such businesses.
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