Authorization to Disburse Proceeds
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When part or all of the proceeds of an SBA-guaranteed debenture funding are to be used to refund (refinance) one or more maturing debentures, the SBIC issuing the new debenture(s) must send SBA an authorization letter exactly in the form indicated by the attached MODEL LETTER. Please note that portions of commitment(s) approved to refund maturing debentures must be drawn on or before the maturity date of the debentures to be refunded. In such cases, the proceeds of the draw will be wired at the direction of SBA for distribution to the holders. Please file this completed form, only required if you intend to refinance one or more maturing debentures as stated above, together with the other required documents for the submission of the SBIC debenture commitment application to: U.S. Small Business Administration, Office of Investment and Innovation, Funding Admin. Branch, 409 Third Street, SW, Washington, DC 20416.
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