SBIC structure, strategy, and compliance

What you need to know before your first draw.

The SBIC program is one of the most attractive options for private credit managers looking to unlock low-cost leverage and expand access to new LP pools.

 

But after a 285% spike in applications in 2024 and the introduction of regulations like accrual debentures, successfully forming and operating an SBIC takes more than just raising capital.

 

To help fund managers navigate the SBIC license process and beyond, we’ve created a free whitepaper that covers:

 

  • The structural advantages and regulatory nuances of SBICs
  • Strategic timing for capital calls and SBA drawdowns
  • Reporting obligations such as Form 468 and capital certificates
  • Aligning your fund’s legal and operational setup with SBA requirements

Download your free SBIC whitepaper

The following terms apply to your use of this document and your agreement to these terms is required before you are permitted to use this document. This document is provided for your reference only and is not intended to serve as legal, tax, or financial advice. You acknowledge and agree that the making available of this document to you by eShares, Inc. dba Carta, Inc. (“Carta”) shall not constitute the provision of legal service or other professional service by Carta. You should seek advice from an attorney licensed in the relevant jurisdiction(s), tax professionals, accounting professionals, and financial professionals before relying on this document. You further agree and acknowledge that this document has not been prepared with your specific circumstances in mind, may not be suitable for use in your business, and does not constitute tax advice. Relying on this document, you assume all risk and liability that may result.

USE OF THIS DOCUMENT IS ENTIRELY AT YOUR OWN RISK. This document is provided “as is” without warranty of any kind, either express, implied, or statutory, including without limitation, warranties of merchantability, fitness for a particular purpose, satisfactory purpose, title or noninfringement. Some jurisdictions do not allow the exclusion of implied warranties, so these exclusions may not apply to you.

© 2025 eShares, Inc. dba Carta, Inc. All rights reserved. Reproduction prohibited.