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Membership FAQ

Q. Who can become an SBIA member?
A. Membership is eligible for Funds and Funds in Formation who have a primary purpose of investing in small or lower middle market businesses, Limited Partners who invest in those funds, Intermediaries such as investment bankers and placement agents, and a limited number of Service Providers who offer professional services, such as attorneys and accountants. All SBIA members have a specific focus on small business and lower middle market investing.
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Q. How does SBIA advocate on behalf of lower middle market private equity with Congress, the White House and regulators?
A. In addition to hosting the Washington DC Fly-In, an annual members-only event and unique opportunity to tell legislators and regulators about the positive impact of Private Equity investment on small business and the economy, the SBIA team closely monitors the legislative and regulatory environment. SBIA acts to capitalize on opportunities and minimize threats to its members. Input from members about key issues that affect them helps the SBIA focus its advocacy efforts.  
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Q. What is the difference between a Fund and Fund in Formation?
A. A Fund member is an entity organized under the laws of the U.S. as a private investment fund or BDC with the primary purpose of investing in small or lower middle market businesses, primarily in the U.S., with a minimum of $10M in commitments. An Fund in Formation member is an entity that meets the qualifications of a Fund, but is currently in formation or fundraising for an initial fund. Fund in Formation membership is restricted to two years. Once the fund in formation is closed, those members convert to Fund members. If after two years, a fund is not closed, membership in SBIA concludes.
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Q. Can a Service Provider apply for membership?
A. The SBIA limits the number of Service Provider members to not more than 15% of the total membership; new Service Provider members are currently considered on a case-by-case basis. Service Provider members include law firms, accounting firms, due diligence firms, while Intermediary members include investment banks, independent sponsors and placement agents.  Members receive the benefit of discounted event registration, as well as access to Fund, LP, and Fund in Formation members. SBIA events are structured so that the only service providers in attendance are Service Provider members or event sponsors. For information on the availability of Service Provider membership in SBIA or sponsorship opportunities, contact SBIA directly.
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Q. How does my firm become an SBIA member?
A. The application process includes filling out a new member application and paying an annual fee. Membership is subject to approval by the SBIA’s Executive Committee. For more information, see Membership Requirements.
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Q. Does membership apply to a firm or an individual?
A. Membership is per firm, meaning all partners benefit from a firm’s SBIA membership, including receiving discounted membership pricing for events, regular legislative and regulatory updates, and access to member-only content on the SBIA website.
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Q. Why does the member application ask for both company and personal contact information?
A. Each SBIA member firm designates a primary contact person from the firm to establish the account. Whoever is designated to be the primary contact person should fill out the new member application and provide his/her contact information. Other members of the firm can then set up their own individual profiles for SBIA, ensuring they have access to the full benefits of membership. In addition, individuals’ personal contact information is used to match Congressional Districts with members. Contact information is never shared with outside parties.
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Q. How much are annual dues?
A. Dues are based on member type (Fund, Fund in Formation, Limited Partner, Intermediary and Service Provider). Dues for Funds are calculated based on AUM (Assets Under Management), with a flat fee for other members. For more details on dues structure, see Requirements & Dues.
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Q. How are Assets Under Management and dues for Funds calculated?
A. Dues for Fund membership are based on AUM and calculated for the entire firm. If a firm has multiple funds, the AUM would be the sum of all funds. If a firm has leveraged funds, the AUM would be the sum of private capital and leverage. A rule of thumb would be to use the total assets used for purposes of calculating management fees.
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Q. Is membership based on a calendar year or from the date we joined?
A. Membership begins on January 1st and ends on December 31st of a given year. Dues are collected on a calendar year basis, regardless of the date a firm signs up for membership.
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Q. When are dues collected?
A. Dues for new members are collected upon joining the organization. For renewing members, dues are sent out in the 4th quarter of the preceding year, and due by January 1st of a given year (for example, a member organization renewing for 2017 would have an invoice sent out in the fall of 2016, due by January 1st, 2017).
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Q. Does SBIA offer any discounts on events?
A. All SBIA members receive a discounted member rate for SBIA events. Certain events are limited to members only. Limited Partner members receive complimentary attendance at all SBIA events.
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