U.S. Small Business Administration Revises Rule on Small Business Investment Companies' Conflicts of Interest and Idle Funds Investments

Summary

The U.S. Small Business Administration is revising a rule that prohibits small business investment companies from providing financing to associates unless they obtain a conflict of interest exemption from SBA. The revision aims to bring the public notice requirement into conformity with statutory requirements and expand the types of investments SBICs can make with their idle funds.