We are one of very few law firms in the United States to have a group dedicated to servicing Small Business Investment Companies ("SBIC") and we are the only such firm where such expertise is resident in the tri-state area of New York, New Jersey and Connecticut. This practice is national in scope and represents private equity and mezzanine funds (including those bank owned or controlled) as well as merchant banks and commercial lenders during fund formation, licensing and investment transactions.

The members of this group have been involved in the SBIC program for many years, frequently speak at industry functions, lecture on behalf of business school programs, write articles for the New York and New Jersey Law Journal and have assisted Small Business Administration (SBA) in the drafting of many of its form documents, including the model partnership agreement currently being utilized for new applicants. The Firm's practice in this area was previously featured in a full page article by NASBIC News, the trade association newsletter. As a result of this significant involvement in the SBIC program, our attorneys have developed long term working relationships with senior decision-making personnel at SBA.

Our SBIC attorneys have extensive experience in:

  • Fund Formation - including fund structuring, preparing fund terms and conditions and other associated legal documentation and negotiating with institutional investors regarding side letters and other matters;
  • SBIC Licensing - such as assisting with the SBIC application process, including Management Assessment Questionnaires (MAQ) submissions, SBIC application submissions, opinions for commitments and future draw-downs, SBA interviews, and regulatory compliance matters;
  • Investment Transactions - negotiating and documenting loan and investment transactions, structuring joint and co-investment opportunities and representing portfolio companies; and
  • Regulatory and Limited Partner Issues - such as operational monitoring, "capital impairment" issues, and restricted operations and liquidation concerns.