Small Business Investment Company Licensing and Examination Fees Inflation Adjustment

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Published

August 1, 2025

Effective

October 1, 2025

Issuing agencies

Small Business Administration

Abstract

The U.S. Small Business Administration (SBA) is providing notice of the annual Inflation Adjustment to the Licensing and Examination Fees charged in the Small Business Investment Company (SBIC) program, required under the SBIC program regulations.

Full Text

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<title>Federal Register, Volume 90 Issue 146 (Friday, August 1, 2025)</title>
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[Federal Register Volume 90, Number 146 (Friday, August 1, 2025)]
[Notices]
[Page 36273]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-14516]


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SMALL BUSINESS ADMINISTRATION


Small Business Investment Company Licensing and Examination Fees 
Inflation Adjustment

AGENCY: U.S. Small Business Administration.

ACTION: Notice of inflation adjustment of SBIC licensing and 
examination fees.

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SUMMARY: The U.S. Small Business Administration (SBA) is providing 
notice of the annual Inflation Adjustment to the Licensing and 
Examination Fees charged in the Small Business Investment Company 
(SBIC) program, required under the SBIC program regulations.

DATES: The SBIC program Licensing and Examination Fees identified in 
this notice will become effective on October 1, 2025, and will not 
require further Inflation Adjustment prior to the release of the June 
2026 Consumer Price Index for All Urban Consumers (CPI-U), as 
calculated by the U.S. Bureau of Labor Statistics (BLS).

FOR FURTHER INFORMATION CONTACT: Paul Van Eyl, Office of Investment and 
Innovation at 202-257-5955 or <a href="/cdn-cgi/l/email-protection#87e8eeeea9f7e8ebeee4fec7f4e5e6a9e0e8f1"><span class="__cf_email__" data-cfemail="f49b9d9dda849b989d978db4879695da939b82">[email&#160;protected]</span></a>. If you are deaf, hard 
of hearing, or have a speech disability, please dial 7-1-1 to access 
telecommunications relay services.

SUPPLEMENTARY INFORMATION: The SBIC program regulations at 13 CFR 
107.300(c)(4), 107.692(b)(2), and 107.692(e) require SBA to annually 
adjust the SBIC program Licensing and Examination Fees using the 
Inflation Adjustment defined in 13 CFR 107.50. The current Licensing 
Fees payable by SBIC Applicants became effective on August 17, 2023, as 
part of the SBIC Investment Diversification and Growth Final Rule, and 
the current Examination Fees payable by SBICs became effective on 
October 1, 2024. This document provides notice of the annual Inflation 
Adjustment based on the release of the June 2025 BLS CPI-U.
    The table below identifies the Licensing Fees payable by SBIC 
License Applicants and Examination Fees payable by SBICs, effective as 
of October 1, 2025.

------------------------------------------------------------------------
                                                          Fees amounts
          SBIC fee type              Fund sequence         (effective
                                                        October 1, 2025)
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Licensing Fees (effective under
 Sec.   107.300):
    Initial Licensing Fee Sec.    Fund I.............             $5,200
     107.300(a).
                                  Fund II............             10,600
                                  Fund III...........             15,800
                                  Fund IV+...........             21,100
    Final Licensing Fee Sec.      Fund I.............             10,600
     107.300(b).
                                  Fund II............             15,800
                                  Fund III...........             26,400
                                  Fund IV+...........             31,700
    Licensing Resubmission Penty  ...................             10,600
     Fee Sec.   107.300(c)(3)
     \1\.
Examination Fees (effective
 under Sec.   107.692):
    Minimum Base Fee (Sec.        All Funds..........             11,300
     107.692(b)(2)).
    Maximum Base Fee for non-     All Funds..........             37,600
     Leveraged SBICs (Sec.
     107.692(b)(2)).
    Maximum Base Fee for          All Funds..........             55,000
     Leveraged SBICs (Sec.
     107.692(b)(2)).
    Delay Fee (Sec.               All Funds..........                800
     107.692(e)).
------------------------------------------------------------------------
\1\ Resubmission Penalty Fee. The Resubmission Penalty Fee means a
  $10,600 penalty fee assessed to an applicant that has previously
  withdrawn or is otherwise not approved for a license that must be paid
  in addition to the Initial and Final Licensing Fees at the time the
  applicant resubmits its application.


(Authority: 15 U.S.C. 681(e) and 687b(b); 13 CFR 107.300 and 
107.692.)

Joshua R. Carter,
Associate Administrator, U.S. Small Business Administration, Office of 
Investment and Innovation.
[FR Doc. 2025-14516 Filed 7-31-25; 8:45 am]
BILLING CODE 8026-09-P


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