SSBIC Law and Legal Definition
SSBIC means the Specialized Small Business Investment Company. SSBICs are privately owned venture based companies that are supported by the federal government. SSBIC capital is generally supplemented by debt or preferred equity which is provided through open market financings guaranteed by SBA.
SSBIC are formally known as Minority Small Business Investment Companies. They are established to provide financial assistance to the small businesses run by economically or socially backward individuals. SSBICs provide equity capital and long-term loans to such businesses. They also help in stimulating the growth of the small businesses.
