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What are the rules governing an SBIC’s ability to take controlof a small business?
Expert Answer
“What are the rules governing an SBIC’s ability to take controlof a small business?”
The Small Business Investment company (SBIC) program part of USsmall business administration (SBA) was set up in 1958 to fill thegap between the availability of venture capital and therequirements of small business to meet their business and growthneeds.
The SBA stipulates that no SBIC can take direct or indirectcontrol of the small business operations on a permanent basis. TheSBA under some circumstances permits the SBIC to take charge of thesmall
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