New in 2014: Expanding SBA's Impact Fund

The Impact Investment Fund was launched in early 2011 as part of a series of efforts across the federal government to support the growth and development of America’s impact investing industry.  Housed within SBA’s Small Business Investment Company (SBIC) Program, the Impact Fund makes roughly $200 million in federally-guaranteed leverage commitments available to SBICs that invest with impact.

On September 25, 2014, SBA announced a major update to its impact policy, introducing new features designed to broaden access to the fund and support the development of the impact investment industry.  Here are some highlights:

  • Impact SBICs may now pursue their own Fund-identified impact investing strategies in addition to SBA-identified investments in national priority areas.
  • The Impact Investment Fund Policy incorporates impact reporting and measurement best practices.
  • The $200 million hard cap on annual commitments to Impact SBICs has been lifted.  Once licensed, Impact SBICs now share equal access to leverage with their Standard SBIC peers.
  • Existing Standard SBICs may opt-in as Impact SBICs through December 1, 2014.

The official policy document underlying the Impact Investment Fund, as well as some additional resources, are available for download below.  All fund managers interested in pursuing an Impact SBIC license are advised to review the policy as well as the contents of our website.

Resources for Download

Impact Investment Fund Policy

Approved: September 25, 2014

Webinar: Expanding SBA's Impact Investment Fund

Download: Slides & Audio (.wmv)

Impact Fund Briefer

File Attachments: 
Attachments Size
SBA Impact Webinar (10-09-2014) 433Kb