SBIA invited to tell SBIC success story at Senate hearing
Patriot Capital’s Stacy Wittelsberger represents SBIA at Senate committee hearing
Washington, DC (June 9, 2021) — The Small Business Investor Alliance (SBIA), the association for private equity funds investing in American small businesses, is a member-driven organization made up of senior investment professionals who support and grow the small and medium-sized businesses across this country that create jobs and help drive America’s economy. SBIA member Stacey Wittelsberger of Patriot Capital testified today on behalf of SBIA to tell the success story of one federal program helping lower middle market investors accomplish this to the U.S. Senate Committee on Small Business & Entrepreneurship. During the hearing, entitled “Review of the Small Business Investment Company Program”, she also outlined targeted improvements that could help the program expand its reach and provide greater access to patient capital.
“Small businesses need access to more of the most patient form of capital – equity,” said Wittelsberger. The SBIC program severely limits the amount of equity available to smaller businesses and would benefit from thoughtful tools to facilitate more access to this type of capital.
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About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 60 years. Our members grow businesses. They support families. They create retirement security. They help provide scholarships and access to education. Their actions directly impact people and communities. It is their contributions to small and medium-sized businesses across this country that create jobs and help drive the economic engine we call America. For more information, visit www.SBIA.org or call (202) 628-5055.