Committee pushes SBIC reporting bill to require quarterly performance updates from SBA
HR10353 would make the SBA publish quarterly SBIC program reports on licensing, applicants and jobs created or sustained to give Congress timely oversight of the program; sponsors said SBA had stopped providing recent complete reports.
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Representative Finstead, sponsor of HR10353, told the committee that Small Business Investment Companies are critical for channeling private capital to entrepreneurs, and that Congress needs timely, clear data on licensing, applicants and jobs. The bill would require the SBA to publish quarterly reports on the SBIC program's performance.
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