|By PR Newswire||
|December 7, 2012 01:40 PM EST||
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.
"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
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
Mar. 28, 2017 06:00 AM EDT Reads: 8,881
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Mar. 28, 2017 06:00 AM EDT Reads: 4,278
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Mar. 28, 2017 06:00 AM EDT Reads: 2,948
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists l...
Mar. 28, 2017 05:00 AM EDT Reads: 9,884
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, provided the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” used open source attack tools that are free and available for download by anybody. Attendees learned where to find and how to operate these tools for the purpose of testing their own IT infrastructure. The...
Mar. 28, 2017 04:45 AM EDT Reads: 7,465
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 28, 2017 02:30 AM EDT Reads: 2,022
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 28, 2017 02:15 AM EDT Reads: 3,093
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
Mar. 28, 2017 02:15 AM EDT Reads: 9,902
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 28, 2017 02:15 AM EDT Reads: 3,108
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 28, 2017 02:00 AM EDT Reads: 3,894
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 28, 2017 01:00 AM EDT Reads: 2,345
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 28, 2017 12:45 AM EDT Reads: 988
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 28, 2017 12:00 AM EDT Reads: 1,249
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
Mar. 28, 2017 12:00 AM EDT Reads: 8,378
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
Mar. 27, 2017 11:30 PM EDT Reads: 3,064