Use these forms and guides as you go through the processes of a licensed SBIC.
Content
SBIC licensing forms
Applying for an SBIC license is a three-part process:
- Pre-screening review
(Short Form 2181) - Management Assessment Questionnaire (MAQ) and MAQ fee
(Long Form 2181 or Subsequent Fund Form 2181 and Form 2181 Exhibits) - Final License Application and Licensing fee
New SBIC Program Application - Effective August 17, 2023
Pre-screen Form: 2181 (Short)
The Pre-screen 2181 contains a subset of forms contained in the full MAQ. Specifically, the Short Form 2181 contains:
- The Overview
- Narrative
- Investment Track Record
- Principal Biographies
Management Assessment Questionnaire (MAQ): Form 2181 (Long) or Form 2181 (Subsequent Fund)
Once you have decided to move forward with the application process, the next step is to prepare and submit the MAQ, which consists of:
- Form 2181 (Long Form or Subsequent Fund Form)
- Form 2181 Exhibits A - D
- Attachments/Supplemental Materials
- Payment of Initial Licensing Fee / (“MAQ Fee”)
License Application: MAQ Form 2181 and Form 2181 Exhibits
The License Application builds upon the previously submitted MAQ and includes additional forms and documentation. The entire package includes the following:
- Form 2181 (updated to include any changes since the Green Light Letter)
- Form 2181 Exhibits A - D (updated to include any changes since the Green Light Letter)
- Form 2181 Exhibits E - G
- Copies of all final legal documents + redlined copies detailing any and all changes to previously submitted legal documents
- Payment of all application and Final Licensing Fee and other fees which may at that time be due (e.g., the Resubmission Penalty Fee, if applicable and if not already paid)
Legacy SBIC Program Application- Accepted through September 30th, 2023
- Legacy Management Assessment Questionnaire (Form 2181 and Part I of Form 2182)
- Legacy License Application (Revised and updated Forms 2181, 2182, and 2183)
Other SBIC licensing forms
- Model Limited Partnership Agreement (LPA) Version 3.0 for Standard and Impact SBICs
(submitted as part of Exhibit Q to Form 2183) - Commitment Guaranty Template – See SOP chapter 6 for template
Private capital forms
- SBA Form 2181 Exhibit F – Capital Certificate
- Legacy Capital Certificate Form – Accepted through September 30th, 2023
- Request for Approval of Transfer Certificate
SBIC financial reporting forms
SBIC Licensee Financial Statements and Investment Performance
- Form 468 Instructions - SBIC Financial Reports
- Form 468 - SBIC Financial Report
- Reinvestor SBIC Exhibit to Form 468
SBA leverage commitment forms
- Guidance for an SBIC to apply for or request SBA Leverage Commitment
- Instructions for Commitment Requests (MAQ submitted after August 17, 2023)
- Instructions for Commitment Application (MAQ submitted before August 17, 2023)
- Form 652 Assurance of Compliance for Nondiscrimination
- SBA Form 2181 Exhibit G - Transferor’s Liability Contract
- Legacy Form 2183 Exhibit L - Transferor’s Liability Contract
- SBA Form 2181 Exhibit F - Capital Certificate
- Legacy Form 2183 Exhibit K - Capital Certificate
- Form 1065 Applicant Licensee’s Assurance of Compliance for the Public Interest
- Form 1846 Statement Regarding Lobbying for Loan Guarantees and Loan Issuance
- Form 34 Bank Identification
- Form 33 Instructions for the Authorization to Disburse Proceeds
- Debit Authorization
- Form 468 – SBIC Financial Report (if requiring update)
- SBA Form 25 Resolution of the Board of Directors or General Partner (see Table 1)
Provides certain resolutions with Leverage Commitment. Licensees should select the SBA Form 25 based on their organizational structure:
|
SBIC Organizational Structure |
SBA Form |
|---|---|
| Partnership Licensees with individual general partners | |
| Partnership Licensees with a corporate general partner | |
| Corporate Licensees |
- Form 27 Opinions of Counsel (see Table 2)
| Type of SBIC | Form |
|---|---|
| Accrual and Reinvestor SBICs | Form 27A Accrual Debenture Opinion of Counsel |
| Standard and Impact SBICs |
Form 27B Standard Debenture Opinion of Counsel If you intend to issue either Low and Moderate Income (LMI) or Energy Saving Debentures at some point: Form 27C LMI Debenture Opinion of Counsel |
SBA leverage draw forms
- Memorandum of Instructions for SBIC Draw Requests
Guidance for an SBIC to submit a Draw Request against SBA's Leverage Commitment in connection with the SBIC’s issuance of SBA-Guaranteed Debentures. - Form 468 – SBIC Financial Report
- Form 27 (see Table 2)
- Leverage Security Instruments (see Table 3)
|
Type of leverage |
Form |
|---|---|
| Standard debenture | Form 444C Debenture Certification |
| LMI debenture | Form 2163 5-Year LMI Debenture Certification or Form 2162 10-Year LMI Debenture Certification |
| Energy Saving debenture | Form 2434 5-Year Energy Saving Debenture Certification or Form 2433 10-Year Energy Saving Debenture Certification |
| Accrual debenture | Form 2536 10-Year Accrual Debenture Certification |
SBIC leverage pre-payment forms
SBIC financing forms
|
Situation |
Form |
|---|---|
| All | Form 1031 Portfolio Financing Report Form 480 Size Status Declaration Form 652 Assurance of Compliance for Nondiscrimination |
| If you need a small business size determination. | Form 355 Application for Small Business Size Determination |
| If you're using an Energy Saving debenture to finance the investment and need a pre-financing determination of eligibility | Form 2428 Financing Eligibility Statement for Usage of Energy Savings Debentures |
| If you're a specialized SBIC |
Form 1941B Financing Eligibility Statement - "Social Disadvantage" (For individuals who are not members of a designated group) Form 1941A Financing Eligibility Statement - "Social Disadvantage" (For individuals who are members of a designated group) Form 1941C Financing Eligibility Statement - "Economic Disadvantage" |
| If you're submitting a portfolio company to SBA as a success story | Form 1926 SBA Success Story |
SBIC examination forms
SBA will send the following forms to the SBIC prior to the examination:
- Disclosure statement
- Form 857 Request for Information Concerning Portfolio Financing by SBICs
- SBIC ownership confirmation
- Form 1405 Stockholder’s Confirmation for Corporate SBICs
- Form 1405A Ownership Confirmation for Partnership SBICs