Small Business Investment Company (SBIC) fund services

SBIC funds can be an attractive source of low-cost capital to invest in lower middle-market businesses. Whether a private equity fund is considering the SBIC program for the first time or has already received funding from the Small Business Administration (SBA), the issues associated with running a SBIC fund can draw on your time and take resources away from activities that generate profits. Our experience with more than 100 SBIC funds provides our clients with the expertise they need to manage through this regulatory environment.

RSM meets the needs of SBIC funds and their portfolio companies with integrated audit, tax, consulting and transaction advisory services. Clients benefit from a single point of coordination from teams with extensive experience in all aspects of private equity and the SBIC program.

Our SBIC fund professionals, who work almost exclusively with private equity and SBIC funds, act as your strategic partner throughout the transaction life cycle. They understand the complexities that chief financial officers, controllers and general partners face. Our tax professionals take a balanced approach that helps you and your portfolio companies save money in complex tax environments, while keeping an eye on your longer-term goals.

Among the SBIC fund services we offer are:

  • Audit of SBA Form 468
  • Audit of GAAP financial statements
  • Tax preparation and consulting services
  • Assistance with SBA examination preparation and first-time setup of chart of accounts and general ledger*
  • SBIC accounting policies and SBA regulatory compliance*
  • Calculation and recording of management fees*
  • Investment valuation procedures and documentation*
  • Distribution computations using SBA software
  • Computation of prioritized payments, charges and adjustments for Participating Security Funds*

SBIC fund training and seminars

RSM also offers on-site training designed to help you understand SBA reporting requirements and determine what resources you need to operate effectively. We provide training in a variety of areas, including SBA reporting software and key regulatory, accounting and tax issues. Our SBIC seminars focus on fund formation, accounting, tax and operations. Other educational seminars for your fund and portfolio companies address common industry issues and concerns, such as back-office operations, business acquisitions, industry briefings and our annual accounting and tax update.

*Certain services cannot be provided to investment advisers registered with the SEC or to existing audit clients of the firm.


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How can we help you??

To discuss how our team can help your business, contact us by phone 800.274.3978 or

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Steven Johnson
SBIC Fund Practice Leader