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The U.S. Small Business Administration has set new annual fee rates for Small Business Investment Companies' debentures for fiscal year 2027, with standard debentures at 0.3000% and accrual debentures at 0.8710%. These fees apply to any SBIC receiving debenture commitments between October 1, 2026 and September 30, 2027, regardless of when the debentures are actually drawn.
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The U.S. Small Business Administration (the “SBA”) has announced that the annual fees charged to Small Business Investment Companies (“SBICs”) for debentures (each, an “Annual Fee”) in the fiscal year 2027 will be as follows:
Standard Debentures
Accrual Debentures
0.3000%
0.8710%
An SBIC that receives a commitment from SBA for debentures from Oct. 1, 2026 to Sept. 30, 2027 will be required to pay the applicable Annual Fee, determined based on the type of debenture drawn, even if those debentures are drawn in subsequent years.
The SBA charges these Annual Fees as a percentage of the debentures drawn. The distinction between these two Annual Fees is intended to reflect the different terms and conditions of the two types of debentures. The Annual Fees for each fiscal year are typically set just after Sept. 30 of each year. The Annual Fees must be paid in addition to the interest charged by SBA on its debentures.
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