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ARTICLE · 29 MAY 2014

SBIC Funds Limited Partners’ Recertification Notice

McGuireWoods LLP
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The United States Small Business Administration released its annual recertification notice on May 15, 2014.

United StatesFinance and Banking
Mark Kromkowski
Mark Kromkowski
J. Kevin Boardman
J. Kevin Boardman
Bryan Bylica
Bryan Bylica
Ryan Taylor
Ryan Taylor

The United States Small Business Administration (SBA) released its annual recertification notice on May 15, 2014. Small Business Investment Company (SBIC) Funds with unfunded commitments from Institutional Investors must complete the annual recertification if the SBIC Fund has outstanding SBA leverage, an SBA leverage commitment or both. This requirement is part of the SBA's continuing efforts to ensure that Institutional Investors remain qualified investors and that Regulatory Capital is accurately reported.

SBIC Funds must submit either:

  1. A new Capital Certificate that has been updated for all changes in the SBIC Fund's Institutional Investors or Regulatory Capital, or
  2. A letter certifying that a review of the SBIC Fund's unfunded commitments from Institutional Investors revealed that no changes were required in the most recently filed Capital Certificate.

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