Press Releases

Knight’s Small Business Investment Opportunity Act Of 2017 Passes House

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Washington, DC, July 24, 2017 | comments
Rep. Steve Knight’s (CA-25) bill, H.R. 2333, Small Business Investment Opportunity (SBIO) Act of 2017, passed the House with unanimous support. The SBIO Act increases the amount allocated for the SBIC programs to reflect inflation and provide access to additional funding. 

The Small Business Investment Opportunity Act would make improvements to the Small Business Investment Company (SBIC) Program, an initiative administered by the Small Business Administration (SBA) that allows privately owned and managed investment funds to invest in small businesses. Current law limits the amount of capital SBICs can invest in growing firms, but Knight’s bill would raise that limit to $175 million so small businesses can have access to additional funds that would help them expand their companies and hire new employees.

“Increasing funds to our SBIC programs help our small businesses have access to capital to grow and expand their businesses,” said Rep. Knight. “This legislation would finally match the appropriate funding level for our community entrepreneurs and their businesses. Increasing funds like this helps our economy and create more jobs.”

H.R. 2333 is a part of an ongoing effort of Rep. Knight to expand opportunities of investment and innovation for small businesses. As a member of the House Committee on Small Business, Knight continues to support and introduce small business specific legislation like for programs like the Women’s Business Centers (WBC), Small Business Innovation Research (SBIR), and Small Business Technology Transfer (STTR) programs.
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