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What criteria is set by the SBA for licensing SBICs?
Expert Answer
Following criteria are set by the SBA for licensing SBICs
Greatest of the following there Minimum capital requirementsmust be raised before applying for SBIC license
– Statutory Minimum $ 5 million
– Minimum amount stipulated in SBIC application required forinitial closing of the fund
– Minimum amount as determined by SBA to ensure theviability