The Office of Examinations is responsible for performing periodic on-site examinations of SBICs in order to determine whether licensees are complying with the Small Business Investment Act of 1958, as amended, and implemented regulations. Examiners also ensure the accuracy of the information that licensees submit to SBA. By statute, SBA must examine licensees within a two-year cycle. The Investment Division’s goal is to examine leveraged licensees annually and non-leveraged licensees every two years. New licensees are examined within the first six months. The Office of SBIC Examinations has 23 employees located at Headquarters, three main field offices and six satellite offices. The Office of Examinations is headed by a Director, who is stationed at Headquarters and supported by a Program Analyst. There are Examination Managers in each of our three main field offices, which are located in New York, Atlanta and San Francisco. There are also satellite offices located in Florida, Illinois, Pennsylvania, Texas, Arizona and West Virginia. The examiners either work from a field or satellite office, or from home. All examiners report to their designated manager.