August 31, 2023

SBA: 14 Appointees Announced for the New Investment Capital Advisory Committee

The Committee Will Advise SBA in the Development of a More Inclusive and Accessible Ecosystem for Small Businesses Nationwide

Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, announced the appointment of 14 members to the newly established federal Investment Capital Advisory Committee (ICAC). Formed to increase small businesses and startups’ access to investment capital, the ICAC consists of members with diverse perspectives, experiences, and occupational backgrounds in and related to the U.S. private investment industry. 

“The launch of SBA’s inaugural Investment Capital Advisory Committee with its distinguished membership will serve as a critical resource to the Biden-Harris Administration as we strengthen our policies and programs to foster a more inclusive investment ecosystem,” said Administrator Guzman. “ICAC’s insights and recommendations will help the SBA expand access to investment capital, increase public awareness of SBA resources, and identify and fill capital gaps facing small businesses and the fund managers seeking to support them.”

The committee’s main objective is to promote, expand, and strengthen the ecosystem of private funds financing U.S. small businesses and startups, to fund entrepreneurs and small business owners from traditionally underserved communities.

“We are delighted by the overwhelming interest and support for the establishment of this important federal advisory committee and look forward to hosting an inaugural meeting in the coming weeks,” said Associate Administrator for Investment and Innovation Bailey DeVries.

Investment Capital Advisory Committee Members:

Additional information about the Investment Capital Advisory Committee can be found here. The SBA will announce additional ICAC members and public meeting dates in the coming weeks.

Appointment terms are set for two years. Members of the advisory committee do not receive a salary, nor are they eligible to officially represent the SBA. Their selection does not connote an endorsement of their organizations.

This post was originally published here.