Welcome!

News Feed Item

SBA Highlights Model Public-Private Partnership Program in SBIC Annual Report

WASHINGTON, Dec. 7, 2012 /PRNewswire-USNewswire/ -- In an era of budget slashing and belt tightening, the U.S. Small Business Administration has efficiently harnessed a public-private partnership through its Small Business Investment Company (SBIC) program, breaking records by channeling billions of dollars into the hands of small businesses and creating thousands of jobs.  This and other success stories are highlighted in the SBIC Annual Report, which was released today and can be read here

(Logo: http://photos.prnewswire.com/prnh/20110909/DC65875LOGO)

"Even with the economy still in recovery mode, this program serves as a model of a zero-subsidy, public-private partnership that has been extraordinarily successful for America's small businesses," said SBA Administrator Karen Mills.  "This report, part of the agency's ongoing efforts to deliver transparency, accountability and robust data collection in its programs, highlights the success and progress SBA has made over the last four years to streamline, simplify and strengthen its core programs."

In addition to SBA's efforts to streamline and simplify this program, critical to its success has been attracting private capital to the funds.  The Annual Report analyzes in detail the financial returns to private investors participating in the program and finds that returns compare very favorably to the private equity industry as a whole, demonstrating that private investors can significantly improve their return by accessing SBA leverage.

At the same time, enhancements to the program have attracted a more diverse array of top-tier investment managers to the funds, and SBA has expanded the program with new funds targeting promising companies in economically distressed regions and gaps in early stage investment. These new platforms are attracting institutional investors, pension funds, and multinational corporations, allowing the agency to expand investment and financing to more innovative small businesses outside of traditional start-up and investment hubs.

The report also highlights the records set by the SBIC debenture program.  In Fiscal Year 2012, the SBIC program had its third consecutive record-breaking year. SBICs provided more than $3 billion in growth capital to over 1,000 small businesses, a 17 percent increase from FY 2011 and an 83 percent increase from FY 2010.  SBA estimates these financings created or sustained over 65,000 jobs.

SBA also licensed 30 new funds in FY 2012, including a record 27 Debenture SBICs, bringing the total number of SBA-licensed funds to more than 300 SBIC-licensed funds, with more than $18 billion in capital.

The report also features the 2012 Small Business Investment Companies of the Year and stories of successful small businesses that benefited from SBIC investments.  The featured SBICs are: Petra Capital Partners (Nashville, TN), Cephas Capital Partners (Pittsford, NY), Main Street Capital Corp. (Houston, TX) and Diamond State Ventures (Little Rock, AR).

Successful small businesses that benefited from SBIC investment in FY 2012 include: JSI Fixtures (Milo, ME), Hoffman Media, LLC (Birmingham, AL), Weber Knapp (Jamestown, NY), CB Restaurants, INC (Milburn, NJ), Gemcor (West Seneca, NY), Security Innovation (Wilmington, MA), Hawke Aerospace (Morgantown, PA), Custom Marketing Co. (Fargo, ND) and Center Rock (Berlin, PA).

SBA plans to continue to build on the success of this public-private partnership to reach more entrepreneurs in more regions and more industries across the country.

The SBIC program was created in 1958 to stimulate the growth of America's small businesses by supplementing the long-term debt and private-equity capital available to them.  Since then, the SBIC program has helped fill these gaps and has invested approximately $63 billion in more than 110,000 small businesses in the United States. 

SBICs are privately-owned and managed investment firms that are licensed and regulated by SBA. SBICs use a combination of funds raised from private sources and money raised through the use of SBA guarantees to make equity and mezzanine capital investments in small businesses.

For more information about the SBA's SBIC program, and to contact its Investment Division, go to www.sba.gov/INV.

Contact: Dennis Byrne (202) 205-6567

Release Number: 12-52

Internet Address: http://www.sba.gov/news

SOURCE U.S. Small Business Administration

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
"WineSOFT is a software company making proxy server software, which is widely used in the telecommunication industry or the content delivery networks or e-commerce," explained Jonathan Ahn, COO of WineSOFT, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...