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ARTICLE · 18 JANUARY 2013

U.S. Small Business Administration Issues 2012 Call For Early Stage Fund Managers

McGuireWoods LLP
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The U.S. Small Business Administration (SBA) has issued a call inviting experienced early stage fund managers to submit the Small Business Investment Company (SBIC) Management Assessment Questionnaire (MAQ) for consideration by the SBA to be licensed as Early Stage Small Business Investment Companies.

United StatesFinance and Banking
Mark Kromkowski
Mark Kromkowski
Bryan Bylica
Bryan Bylica
Michael Lusk
Michael Lusk
Geoffrey Cockrell
Geoffrey Cockrell
Steven Keeler
Steven Keeler
Laura Richardson
Laura Richardson
Samuel Esan
Samuel Esan
Tiffany Madigan
Tiffany Madigan

The U.S. Small Business Administration (SBA) has issued a call inviting experienced early stage fund managers to submit the Small Business Investment Company (SBIC) Management Assessment Questionnaire (MAQ) for consideration by the SBA to be licensed as Early Stage Small Business Investment Companies. The MAQ consists of SBA Form 2181 and the exhibits in SBA Form 2183, which cover information on the management team, the proposed strategy for the SBIC Fund, the fund managers' investment track record, and the proposed fund structure and economics.

SBA has established two "tracks" for the Early Stage SBIC licensing process. Track 1 applies to applicants that have signed commitments for at least $15 million in Regulatory Capital and have the remaining capital needed to achieve the minimum $20 million in Regulatory Capital for Early Stage SBICs "soft-circled." Track 1 MAQs are due on March 1, 2013, with Green Light decisions anticipated by April 30, 2013. A Track

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