Saratoga Investment Corp SBIC II; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest

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Published

October 5, 2021

Issuing agencies

Small Business Administration

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<title>Federal Register, Volume 86 Issue 190 (Tuesday, October 5, 2021)</title>
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[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Page 55102]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-21630]


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SMALL BUSINESS ADMINISTRATION

[License No. 02/02-0687]


Saratoga Investment Corp SBIC II; Notice Seeking Exemption Under 
Section 312 of the Small Business Investment Act, Conflicts of Interest

    Notice is hereby given that Saratoga Investment Fund II, L.P. 535 
Madison Ave, 4th Floor, New York, NY, 10022 a Federal Licensee under 
the Small Business Investment Act of 1958, as amended (``the Act''), in 
connection with the financing of a small concerns, has sought an 
exemption under Section 312 of the Act and Section 107.730, Financings 
which Constitute Conflicts of Interest of the Small Business 
Administration Saratoga Investment Corp SBIC II is proposing to provide 
financing to Teachers of Tomorrow, 5599 San Felipe Street, Suite 1425, 
Houston, TX 77056, to support the company's growth.
    The proposed transaction is brought within the purview of Sec.  
107.730 of the Regulations because Saratoga Investment Funding LLC, an 
Associate of Saratoga Investment Corp SBIC II, L.P., by virtue of 
Common Control as defined at Sec.  107.50, holds a term loan in 
Teachers of Tomorrow and the proposed transaction would refinance such 
obligation to an Associate. Both Saratoga Investment Corp SBIC II, and 
Saratoga Investment Funding LLC are wholly owned by Saratoga Investment 
Corp, which holds an equity investment in Teachers of Tomorrow which 
will also be redeemed through the transaction.
    Therefore, the proposed transaction is considered self-deal 
pursuant to 13 CFR 107.730 and requires a regulatory exemption. Notice 
is hereby given that any interested person may submit written comments 
on the transaction within fifteen days of the date of this publication 
to Associate Administrator for Investment, U.S. Small Business 
Administration, 409 Third Street SW, Washington, DC 20416.

Bailey DeVries,
Associate Administrator, Office of Investment and Innovation.
[FR Doc. 2021-21630 Filed 10-4-21; 8:45 am]
BILLING CODE 8026-03-P


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