House Small Business panel spotlights SBICs to broaden investment in rural manufacturing and critical tech

WASHINGTON — The House Committee on Small Business heard testimony Tuesday on how public‑private investment vehicles can expand financing to small firms, particularly in rural communities and critical‑technology manufacturing, and on whether recent changes at the Small Business Administration (SBA) could hamper oversight.

Chairman Williams, Chair of the House Committee on Small Business, opened the hearing on “Fueling America’s Future: How Investment Empowers Small Business Growth,” saying the session would examine “the essential role of private capital and public‑private partnerships” and highlighting the SBIC program as a model for channeling private investment to small businesses.

The hearing featured three witnesses who run or advise private‑market investment programs: Brett Palmer, president of the Small Business Investor Alliance; Bill Baumel, managing director of Ohio Innovation Fund; and Anthony Cimino, vice president and head of policy at Carta. They described SBICs as a mechanism that leverages private capital with SBA‑backed funds to reach small businesses that traditional bank lending often bypasses.

“SBICs are privately owned companies that…