releases: https://finstad.house.gov/2026/09/16/reps-finstad-morrison-applaud-committee-passage-of-the-sbic-reporting-modernization-act-of-2026/
Data license: MIT · Data source: dwillis/congress-press
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| https://finstad.house.gov/2026/09/16/reps-finstad-morrison-applaud-committee-passage-of-the-sbic-reporting-modernization-act-of-2026/ | Reps. Finstad, Morrison Applaud Committee Passage of the SBIC Reporting Modernization Act of 2026 | 2026-09-16 | 2026 | 2026-09 | Republican | House | MN | Brad Finstad | F000475 | finstad.house.gov | finstad | https://finstad.house.gov/media | scraper | WASHINGTON, D.C. – Today, Congressman Brad Finstad (MN-01) and Congresswoman Kelly Morrison (MN-03), members of the House Committee on Small Business, applauded the unanimous committee passage of the SBIC Reporting Modernization Act of 2026. This bipartisan legislation will require the Small Business Administration (SBA) to publish quarterly, rather than annually, reports regarding the performance of the Small Business Investment Company (SBIC) program and enhance reporting metrics to improve Congressional oversight. The SBIC program is one of the highest performing programs within the SBA, working to connect American small businesses to private equity capital and long-term debt financing. Specifically, the SBIC Reporting Modernization Act of 2026: Enhances Congressional oversight into the SBIC program to ensure that American taxpayers’ dollars are being put to good use. Requires quarterly reporting to give Congress current data on the volume of funding entering and leaving the programs, the level of outstanding leverage, and the outcomes the programs generate in financing and employment. Expands the scope of data in the report for Congress, including the number of applicants receiving Green Light letters and how many of those applicants raise enough private capital to secure the leverage commitment they were approved for. “SBICs play a vital role in connecting entrepreneurs and small business owners to the capital they need to start and grow their businesses,” said Rep. Finstad. “In requiring the SBA to publish quarterly reports on the performance of the SBIC program, Congress and the American people will have clear information and reporting measures to improve transparency and accountability, while ensuring our small businesses succeed. I’m proud to work alongside Congresswoman Morrison and my House Committee on Small Business colleagues to pass the SBIC Reporting Modernization Act of 2026 out of committee and continue delivering for Main Street.” | 1 | 2026-09-17T09:52:05Z | 2026-09-17T09:53:00Z |