On Feb. 16, 2010, the Small Business Administration's Investment Division
announced the completion of revisions to the Management Assessment Questionnaire
(MAQ), the initial gating document for fund managers seeking to form a Small
Business Investment Company (SBIC Fund). Intended to streamline the licensing
process and enhance the Investment Division's ability to assess a manager’s
investment experience, the revisions clarify the SBIC license application
process. Read-only versions of the MAQ and exhibits, including populated
examples for Exhibit F, are
The Investment Division is aware that many applicants may have already begun
completing the MAQ using the previous version of Exhibit F. Use of the prior
version will be acceptable until April 1, 2010.
Equity practice at McGuireWoods LLP is dedicated to keeping clients advised
of new business developments as they occur. If you have any questions regarding
these proposed changes, please feel free to contact the authors or your primary
attorney at McGuireWoods LLP.