Investment Capital Advisory Committee

This committee will provide advice, insights, and recommendations to SBA on matters broadly related to facilitating greater access and availability of patient investment capital for small business.



SBA's Office of Investment and Innovation established the Investment Capital Advisory Committee (ICAC) to serve as an independent source of advice and recommendations to SBA on matters relating to institutional investment market trends, innovation, and policy impacting small businesses’ ability to access patient investment capital.

Committee members will examine the challenges facing capital markets, investment managers, small business entrepreneurs and the stakeholders supporting them in these subject areas and recommend policy and programmatic changes to help strengthen and refine SBA’s programs and services to better facilitate the flow of investment capital to undercapitalized small businesses.

The committee will provide information and recommendations on how SBA can:

  • Promote greater awareness of SBA investment and innovation division programs and services.
  • Cultivate greater public-private engagement, cooperation, and collaboration.
  • Develop or evolve SBA programs and services to address long-term capital access gaps faced by small businesses and the investment managers that seek to support them.


The ICAC will consist of 16 members, appointed by the SBA Administrator for terms of no longer than two years. Nominations for membership on the ICAC will be accepted on a rolling basis.

Nominations are open for:  

  • Current or former small business owners
  • Community leaders
  • Officials from trade associations or investment institutions
  • Members of the investment community

Nominees should send a letter of self-nomination or a letter of nomination from a peer, professional organization, society, or member of Congress. The letter should highlight accomplishments and experience working with small businesses in relevant subject matter areas relating to innovation and investment. Along with the Nominee Information Form (SBA form 898) and resume, nominees should include the following:  

  • Full name of the nominee  
  • Occupation  
  • Physical address  
  • Telephone number  
  • Email address   

Please email all nomination information to 

Supplemental information

Last updated January 24, 2023