Readout of White House Convening to Announce New Small Businesses Investment Funds

 SBIC funds across the country manage over $42 billion in SBA-backed and private capital, providing equity investment and long-term loans to small businesses in a wide range of industries. In just the last year alone, SBICs have created or sustained more than 130,000 jobs, building on major investments the Biden-Harris Administration has made to support small businesses, spur record job growth and create high quality jobs in critical industries of the future. Financing to women-owned, minority-owned, and veteran-owned small businesses from the SBIC program totaled nearly $670 million, over a 25% increase from the year prior. SBA’s SBIC Diversification and Growth reforms that went into effect last August improve the ability for SBIC funds to bridge key funding gaps and provide patient capital to historically underserved small businesses.

Readout of White House Convening to Announce New Small Businesses Investment Funds | The White House