Best online stock trading – No wonder the number of SBIC's licensed by the SBA reached 260 by June, 1961, as compared with 175 at the 1960 year-end or only 61 at the 1959 year-end.

The Newest Banking System This dramatic growth of SBIC's is basically due to the unprecedented demand for long-term equity financing by business concerns to keep pace with the rapid expansion in the nation's economy. Before the appearance of the SBIC's, small companies had a difficult time in obtaining adequate financing. Realizing the vital importance of small business to the nation's economy, Congress passed the Small Business Investment Act of 1958, authorizing the establishment of a new type of small business banking institution”the SBIC. To qualify, an SBIC should (1) be privately held and not dominant in its respective industry; (2) have total assets not in excess of $5 million; (3) have a net worth not in excess of $2½ million; and (4) not have had annual earnings after taxes averaging over $250,000 for the preceding two years. Of the estimated 4.7 million business establishments in the U.

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