Part 107 - SMALL BUSINESS INVESTMENT COMPANIES  


Subpart A — Introduction to Part 107
§ 107.20 Legal basis and applicability of this part 107.
§ 107.30 Amendments to Act and regulations.
§ 107.40 How to read this part 107.
Subpart B — Definition of Terms Used in Part 107
§ 107.50 Definition of terms.
Subpart C — Qualifying for an SBIC License
§ 107.100 Organizing a Section 301(c) Licensee.
§ 107.115 1940 Act and 1980 Act Companies.
§ 107.120 Special rules for a Section 301(d) Licensee owned by another Licensee.
§ 107.130 Requirement for qualified management.
§ 107.140 SBA approval of initial Management Expenses.
§ 107.150 Management-ownership diversity requirement.
§ 107.160 Special rules for Licensees formed as limited partnerships.
§ 107.200 Adequate capital for Licensees.
§ 107.210 Minimum capital requirements for Licensees.
§ 107.230 Permitted sources of Private Capital for Licensees.
§ 107.240 Limitations on including non-cash capital contributions in Private Capital.
§ 107.250 Exclusion of stock options issued by Licensee from Management Expenses.
§ 107.300 License application form and fee.
§ 107.305 Evaluation of license applicants.
§ 107.310 When and how to apply for licensing as an Early Stage SBIC.
§ 107.320 Evaluation of Early Stage SBICs.
Subpart D — Changes in Ownership, Control, or Structure of Licensee; Transfer of License
§ 107.400 Changes in ownership of 10 percent or more of Licensee but no change of Control.
§ 107.410 Changes in Control of Licensee (through change in ownership or otherwise).
§ 107.420 Prohibition on exercise of ownership or Control rights in Licensee before SBA approval.
§ 107.430 Notification to SBA of transactions that may change ownership or Control.
§ 107.440 Standards governing prior SBA approval for a proposed transfer of Control.
§ 107.450 Notification to SBA of pledge of Licensee's shares.
§ 107.460 Restrictions on Common Control or ownership of two (or more) Licensees.
§ 107.470 SBA approval of merger, consolidation, or reorganization of Licensee.
§ 107.475 Transfer of license.
Subpart E — Managing the Operations of a Licensee
§ 107.500 Lawful operations under the Act.
§ 107.501 Identification as a Licensee.
§ 107.502 Representations to the public.
§ 107.503 Licensee's adoption of an approved valuation policy.
§ 107.504 Equipment and office requirements.
§ 107.505 Facsimile requirement.
§ 107.506 Safeguarding Licensee's assets/Internal controls.
§ 107.507 Violations based on false filings and nonperformance of agreements with SBA.
§ 107.509 Employment of SBA officials.
§ 107.510 SBA approval of Licensee's Investment Adviser/Manager.
§ 107.520 Management Expenses of a Licensee.
§ 107.530 Restrictions on investments of idle funds by leveraged Licensees.
§ 107.550 Prior approval of secured third-party debt of leveraged Licensees.
§ 107.560 Subordination of SBA's creditor position.
§ 107.565 Restrictions on third-party debt of Early Stage SBICs.
§ 107.570 Restrictions on third-party debt of issuers of Participating Securities.
§ 107.585 Voluntary decrease in Licensee's Regulatory Capital.
§ 107.590 Licensee's requirement to maintain active operations.
Subpart F — Recordkeeping, Reporting, and Examination Requirements for Licensees
§ 107.600 General requirement for Licensee to maintain and preserve records.
§ 107.610 Required certifications for Loans and Investments.
§ 107.620 Requirements to obtain information from Portfolio Concerns.
§ 107.630 Requirement for Licensees to file financial statements with SBA (Form 468).
§ 107.640 Requirement to file Portfolio Financing Reports (SBA Form 1031).
§ 107.650 Requirement to report portfolio valuations to SBA.
§ 107.660 Other items required to be filed by Licensee with SBA.
§ 107.665 Civil penalties.
§ 107.670 Application for exemption from civil penalty for late filing of reports.
§ 107.680 Reporting changes in Licensee not subject to prior SBA approval.
§ 107.690 Examinations.
§ 107.691 Responsibilities of Licensee during examination.
§ 107.692 Examination fees.
Subpart G — Financing of Small Businesses by Licensees
§ 107.700 Compliance with size standards in part 121 of this chapter as a condition of Assistance.
§ 107.710 Requirement to finance smaller enterprises.
§ 107.720 Small Businesses that may be ineligible for financing.
§ 107.730 Financings which constitute conflicts of interest.
§ 107.740 Portfolio diversification (“overline” limitation).
§ 107.750 Conditions for financing a change of ownership of a Small Business.
§ 107.760 How a change in size or activity of a Portfolio Concern affects the Licensee and the Portfolio Concern.
§ 107.800 Financings in the form of Equity Securities.
§ 107.810 Financings in the form of Loans.
§ 107.815 Financings in the form of Debt Securities.
§ 107.820 Financings in the form of guarantees.
§ 107.825 Purchasing securities from an underwriter or other third party.
§ 107.830 Minimum duration/term of financing.
§ 107.835 Exceptions to minimum duration/term of Financing.
§ 107.840 Maximum term of Financing.
§ 107.845 Maximum rate of amortization on Loans and Debt Securities.
§ 107.850 Restrictions on redemption of Equity Securities.
§ 107.855 Interest rate ceiling and limitations on fees charged to Small Businesses (“Cost of Money”).
§ 107.860 Financing fees and expense reimbursements a Licensee may receive from a Small Business.
§ 107.865 Control of a Small Business by a Licensee.
§ 107.880 Assets acquired in liquidation of Portfolio securities.
§ 107.885 Disposition of assets to Licensee's Associates or to competitors of Portfolio Concern.
§ 107.900 Management fees for services provided to a Small Business by Licensee or its Associate.
Subpart H — Non-leveraged Licensees — Exceptions to Regulations
§ 107.1000 Licensees without Leverage — exceptions to the regulations.
Subpart I — SBA Financial Assistance for Licensees (Leverage)
§ 107.1100 Types of Leverage and application procedures.
§ 107.1120 General eligibility requirements for Leverage.
§ 107.1130 Leverage fees and additional charges payable by Licensee.
§ 107.1140 Licensee's acceptance of SBA remedies under §§107.1800 through 107.1820.
§ 107.1150 Maximum amount of Leverage for a Section 301(c) Licensee.
§ 107.1160 Maximum amount of Leverage for a Section 301(d) Licensee.
§ 107.1170 Maximum amount of Participating Securities for any Licensee.
§ 107.1180 Required distributions to SBA by Early Stage SBICs.
§ 107.1181 Interest reserve requirements for Early Stage SBICs.
§ 107.1182 Valuation requirements for Early Stage SBICs based on Capital Impairment Percentage.
§ 107.1200 SBA's Leverage commitment to a Licensee — application procedure, amount, and term.
§ 107.1210 Payment of leverage fee upon receipt of commitment.
§ 107.1220 Requirement for Licensee to file quarterly financial statements.
§ 107.1230 Draw-downs by Licensee under SBA's Leverage commitment.
§ 107.1240 Funding of Licensee's draw request through sale to short-term investor.
§ 107.1400 Dividends or partnership distributions on 4 percent Preferred Securities.
§ 107.1410 Requirement to redeem 4 percent Preferred Securities.
§ 107.1420 Articles requirements for 4 percent Preferred Securities.
§ 107.1430 Redeeming 4 percent Preferred Securities with proceeds of non-subsidized Debentures.
§ 107.1440 Three percent preferred stock issued before November 21, 1989.
§ 107.1450 Optional redemption of Preferred Securities.
§ 107.1500 General description of Participating Securities.
§ 107.1505 Liquidity requirements for Licensees issuing Participating Securities.
§ 107.1510 How a Licensee computes Earmarked Profit (Loss).
§ 107.1520 How a Licensee computes and allocates Prioritized Payments to SBA.
§ 107.1530 How a Licensee computes SBA's Profit Participation.
§ 107.1540 Distributions by Licensee — Prioritized Payments and Adjustments.
§ 107.1550 Distributions by Licensee — permitted “tax Distributions” to private investors and SBA.
§ 107.1560 Distributions by Licensee — required Distributions to private investors and SBA.
§ 107.1570 Distributions by Licensee — optional Distribution to private investors and SBA.
§ 107.1575 Distributions on other than Payment Dates.
§ 107.1580 Special rules for In-Kind Distributions by Licensees.
§ 107.1585 Exchange of Debentures for Participating Securities.
§ 107.1590 Special rules for companies licensed on or before March 31, 1993.
§ 107.1600 SBA authority to issue and guarantee Trust Certificates.
§ 107.1610 Effect of prepayment or early redemption of Leverage on a Trust Certificate.
§ 107.1620 Functions of agents, including Central Registration Agent, Selling Agent and Fiscal Agent.
§ 107.1630 SBA regulation of Brokers and Dealers and disclosure to purchasers of Leverage or Trust Certificates.
§ 107.1640 SBA access to records of the CRA, Brokers, Dealers and Pool or Trust assemblers.
§ 107.1700 Transfer by SBA of its interest in Licensee's Leverage security.
§ 107.1710 SBA authority to collect or compromise its claims.
§ 107.1720 Characteristics of SBA's guarantee.
Subpart J — Licensee's Noncompliance With Terms of Leverage
§ 107.1800 Licensee's agreement to terms and conditions in §§107.1810 and 107.1820.
§ 107.1810 Events of default and SBA's remedies for Licensee's noncompliance with terms of Debentures.
§ 107.1820 Conditions affecting issuers of Preferred Securities and/or Participating Securities.
§ 107.1830 Licensee's Capital Impairment — definition and general requirements.
§ 107.1840 Computation of Licensee's Capital Impairment Percentage.
§ 107.1845 Determination of Capital Impairment Percentage for Early Stage SBICs.
§ 107.1850 Exceptions to Capital Impairment provisions for Licensees with outstanding Participating Securities.
Subpart K — Ending Operations as a Licensee
§ 107.1900 Surrender of license.
Subpart L — Miscellaneous
§ 107.1910 Non-waiver of SBA's rights or terms of Leverage security.
§ 107.1920 Licensee's application for exemption from a regulation in this part 107.
§ 107.1930 Effect of changes in this part 107 on transactions previously consummated.

Authority

15 U.S.C. 681 et seq. , 683, 687(c), 687b, 687d, 687g, 687m, and Pub. L. 106–554, 114 Stat. 2763; and Pub. L. 111–5, 123 Stat. 115.

Source

61 FR 3189, Jan. 31, 1996, unless otherwise noted.