MEMBERSHIP REQUIREMENTS

The Small Business Investor Alliance is dedicated to developing and promoting the highest standards of ethics, professionalism, and education for its member organizations. Membership requires approval by the SBIA's Executive Committee. There are two classes of membership: Voting and Non-voting

Voting Members must be one of the following:

1) 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. (Fund) with a minimum of $10 million in commitments;

2) an entity or individual (or an entity/individual's advisor) with current outstanding investments or commitments to invest in private investment funds (Limited Partner);

3) a fund in formation that meets the qualifications described in (1)(Affiliate).

Non-Voting Members must be an entity or individual who provides professional services to voting members, such as legal, accounting, back office, valuation, investor relations, and similar services (Associate).

Each member will adhere to the highest level of legal and ethical behavior and fair dealing in the conduct of its business as a prerequisite for membership and as a condition of continued membership. Failure to adhere to the highest standards may result in revocation of membership status.