# Small Business Investment Companies-Early Stage SBICs
> **US Small Business Administration** · Final rule. · Published 2012-04-27 · Effective 2012-04-27 · 77 FR 25042
## Document
- **Document number:** 2012-10120
- **Category:** final-rule
- **Agency:** US Small Business Administration
- **Federal Register citation:** 77 FR 25042
- **CFR reference:** 13 CFR 107
- **Publication date:** 2012-04-27
- **Effective date:** 2012-04-27
## Abstract

In this final rule, the U.S. Small Business Administration (SBA) is defining a new sub-category of small business investment companies (SBICs) which will focus on making equity investments in early stage small businesses. By licensing and providing SBA leverage to these "Early Stage SBICs," SBA seeks to expand entrepreneurs' access to capital and encourage innovation as part of President Obama's Start-Up America Initiative launched on January 31, 2011. This final rule also sets forth regulations applicable to Early Stage SBICs with respect to licensing, capital requirements, non-SBA borrowing, examination fees, leverage eligibility, distributions, and capital impairment. In addition, the final rule makes certain technical changes to the SBIC regulations.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2012/04/27/2012-10120/small-business-investment-companies-early-stage-sbics)
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