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WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) received the Champion of Small Business Investing Award from the Small Business Investor Alliance (SBIA) for his support of small business access to capital.
“I am honored to receive an award helping small businesses gain the capital they need to start and grow their companies. Often when small business owners are struggling to finance their companies, the Small Business Investment Company (SBIC) program steps in to provide another source of capital that they might not otherwise have access to,” said Chairman Chabot.
“Chairman Chabot has been an incredible advocate for investment in America’s small businesses through his support of the Small Business Investment Company (SBIC) program and his work leading the House Small Business Committee,” said SBIA President Brett Palmer. “Small business investors empower growth and job creation across the country, and the legislative work of our Small Business Champions in Congress has been instrumental to facilitating greater capital access for Ohio’s entrepreneurs.”
"It's an honor to present the Champion of Small Business Investing Award to Chairman Chabot," said Rodger Davis, Managing Partner of Northcreek Mezzanine. "His leadership and commitment to small businesses and support of the SBIC program has given us the capital to invest locally in Southwest Ohio. Thanks to his work, we've been able to create thousands of jobs in the region."
Chairman Chabot received the award during a roundtable he held in Warren County, OH, to discuss the SBIC program. The SBIC program was created by the Small Business Administration (SBA) in 1958 to provide another source of financing for small businesses.
The President signed H.R. 2333 into law, the Small Business Investment Opportunity Act (now Public Law 115-187) introduced by Committee member Steve Knight (R-CA). The law will increase the amount of leverage made available to small business investment companies.
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