Small Business Investment Company (“SBIC”) Program: SBA Model Form of Agreement for Limited Partnership SBICs

The Small Business Administration (“SBA”) intends to update the SBA Model Form of Limited Partnership Agreement (the “Model”) to more closely align with customary provisions generally outlined in private funds, while maintaining those regulatory and policy provisions within the Model that are necessary to minimize the risk of loss in the SBIC program and ensure consistency with SBA’s updated regulations and policies. SBA welcomes comments from the public on the current Model (Version 3.0) and on how best to achieve this objective. Specific recommendations for change, with supporting rationale, are welcome. SBA intends to consider such comments in drafting a revised Model, for potential release at a later date.