Small Business Administration’s venture capital program prospers
As venture capitalists fund fewer and fewer deals, the Small Business Administration-licensed Small Business Investment Companies (SBIC) provided about $3 billion in funding to 1,094 small businesses during fiscal year 2012 — a 14 percent increase over the previous year, according to The Business Journals. The number of SBIC licenses issued by the SBA also increased from 22 last year to 30 in 2012. SBA provided “$1.92 billion in loan guarantees” to 301 SBICs in 2012 that raised $1 billion in private capital to invest in small businesses, the article said. For more, read the full story.
