Part B · Startup-relevant scheme
Small Business Investment Company Program (SBIC)
Small Business Administration
Mixed
Seed / Early-StageGrowth / Scaling
Created in 1958, the SBIC program doesn't fund startups directly. Instead, SBA licenses privately owned and managed investment funds (SBICs) and lets them borrow government-guaranteed debt on top of the private capital they raise, then deploy that combined capital as equity or debt into small businesses.
Type of support
Mixed
Best suited for
Growth
Headline amount
Fund-dependent (SBA leverage up to $175M per fund)
How much
Varies by SBIC fund
Objectives
Stimulate and supplement the flow of private equity and long-term loan capital that small businesses need for financing, growth, expansion, and modernization — reaching companies that wouldn't otherwise attract enough private venture capital alone.
Who can apply?
- A startup doesn't apply to SBA directly — it raises from a licensed SBIC fund the same way it would from any VC or private debt fund.
- Must meet SBA small-business size standards to receive SBIC-sourced capital.
- Find a licensed SBIC through SBA's public list of SBA-licensed fund managers.
What do you get?
- For every $1 an SBIC fund raises from private investors, SBA can commit up to $2 of guaranteed debt (leverage), subject to a per-fund cap.
- In FY2025 the program reached $53 billion in combined private capital and SBA leverage nationally.
- SBICs can invest as equity, debt, or a mix, depending on the fund's strategy.
How to apply
Identify and pitch a licensed SBIC fund directly, the same way you would approach any venture or private-debt investor — SBA's site lists licensed SBICs by focus area.
Key links
Details as most recently confirmed against the official source linked above. Deadlines, amounts and windows change — verify on the official portal before applying.