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No matter how spectacular your business plan is, your start-upefforts can come to an abrupt halt if financial backers don'tshare your enthusiasm for the venture. To fulfill both the needs ofsmall businesses and the requirements of venture capital companies,Congress created the Small Business Investment Company (SBIC)program in 1958. Licensed and regulated by the SBA, privately ownedand operated SBICs use their own capital, along with funds borrowedfrom the SBA, to provide small businesses with long-term loans andequity investments.
For start-up entrepreneurs, this means plenty of resources, tipsand, best of all, opportunities--if you're willing to do someresearch and preparation. The SBA's Mike Stamler offers thefollowing tips on how to seek SBIC financing:
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