Purpose and Process

A Portfolio Committee comprised of SBA employees will receive all NMVC company and SSBIC applications that have gone through the due diligence and staff review process and received either a "qualified" recommendation or a "qualified with reservations" recommendation. For these applications, the Portfolio Committee will compile and consider information received from both the due diligence and staff review process and from the Review Panels. It will create a "Recommended Portfolio" of NMVC company and SSBIC applicants that meet SBA's regulatory requirement to achieve both nationwide and urban/rural program impact.

Review and Selection Process

1.  Ranking in descending order of Review Panel scores.

The Portfolio Committee will create one list of all of the NMVC company applicants and SSBIC applicants forwarded to the Committee listing the applicants in descending order by aggregate score from the Review Panels.  The Portfolio Committee will segregate into a separate pile, those applications receiving an aggregate score of less than 150 points.

2.  Selection.

The Portfolio Committee will consider applications in descending order by aggregate score from the Review Panels.  The Portfolio Committee will review both the Review Panel Summary Evaluation Form and the staff recommendation memo for that application and consider any reservations expressed by staff.  The Portfolio Committee may decide to set applications aside from further consideration, in favor of other applications with lower scores from the Review Panel, if the Portfolio Committee determines that the reservations or issues arising from the due diligence and staff review process are significant, or if the selection of an applicant would prevent the program from providing investment nationwide and in both rural and urban areas.

The Portfolio Committee will make selections so as to select the highest ranked, best qualified applicants on the list while achieving the greatest extent of potential nationwide and rural/urban impact of the program.  The Portfolio Committee will select only so many applications as to reach the amount of funding available (based on the proposed amounts of Regulatory Capital and operational assistance grant matching resources stated in the applicant's application). 

The Portfolio Committee will select or not select an applicant using the amounts of Regulatory Capital and operational assistance grant matching resources stated in the applicant's application, with no adjustment or modification of such amounts in the selection process.