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SBIA Expresses Support for Senate Capital Formation package

“These practical tools would help expand access to capital for small businesses and promote a healthy environment for domestic investment,” said SBIA President Brett Palmer.

April 4, 2022 (Washington, D.C.) – The Small Business Investor Alliance (SBIA) is pleased to support the Senate Banking, Housing and Urban Affairs’ JOBS Act 4.0, a comprehensive package of legislative reforms that would expand capital access and help improve investor protections. The proposed agenda includes many practical proposals that offer common-sense reforms and streamlined regulations. The legislation also includes two key proposals long supported by SBIA, a provision that would make changes to a 2006 Securities and Exchange Commission (SEC) acquired fund fees and expenses (“AFFE”) rule for funds that invest in BDCs and language that would expand the SEC’s definition of an “accredited investor”.

The plan includes ideas from entrepreneurs, retail investors, and others, and includes numerous provisions that have strong bipartisan support. Twenty-four of the 29 bills included in the discussion draft have already been introduced on Capitol Hill.

Senate press release >
SBIA letter of support >
Fact sheet >
Section-by-section >
Legislative text >


About the Small Business Investor Alliance
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. For more information, visit or call (202) 628-5055.

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