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SBIA applauds House passage of bipartisan Investing in All of America Act

This bipartisan legislation will expand access to capital for small businesses, particularly those in rural or low-income areas.

WASHINGTON, DC (April 29, 2024) – The Small Business Investor Alliance (SBIA), the leading association for lower middle market private equity funds and investors, applauded House passage of the “Investing in All of America Act of 2023” (H.R. 5333). The bipartisan legislation was introduced by U.S. Representatives Dan Meuser (R-PA) and Hillary Scholten (D-MI) to increase capital available to small businesses. The bill would reform current law to adjust leverage caps on Small Business Investment Companies (SBIC) to account for inflation and modernize bonus leverage for rural, low-income, and national security investments.

“This is smart policy that will help small businesses access the capital they need to grow, particularly in underserved parts of the country, without new federal spending, regulations, or mandates.” said SBIA President Brett Palmer.

SBICs are highly regulated investment platforms that invest exclusively in American small businesses. SBICs raise private capital and that private capital is amplified by leverage from the Small Business Administration (SBA). This bill would exempt investments in rural or low-income areas as well as in industry sectors that are critical to national security from the leverage cap. There is no new spending, no additional cost to the taxpayer, or new regulatory burden associated with this reform.

Legislation must pass both houses of Congress before it can be sent to the President’s desk to be signed into law, and the next step for this bill is consideration by the U.S. Senate. SBIA will focus efforts on moving companion legislation forward in the U.S. Senate as we continue working to help expand opportunities to increase small business investment across America.

Find the final bill text here.
Find Rep. Meuser’s press release here. Watch a video of Rep. Meuser speaking in support of the bill on the House floor here.
Find Rep. Scholten’s press release here. Watch a video of Rep. Scholten speaking in support of the bill on the House floor here.

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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. For more information, visit or call (202) 628-5055.

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