HR 10353: SBIC Reporting Modernization Act of 2026

HR 10353 in plain English: This bill requires the Small Business Administration to publish quarterly reports on its website about Small Business Investment Companies (SBICs), which are privately owned firms licensed by the SBA to invest in small businesses. The reports must include data such as the number of licensed SBICs, the amount of government-guaranteed financing they receive, the number of approved applicants, and jobs created or sustained through SBIC investments.

Stated purpose

This bill requires the Small Business Administration to publish quarterly public reports on its website about Small Business Investment Companies, including data on government-backed financing, licensing activity, and jobs created or sustained by SBIC investments.

Key points

• Requires the SBA to post quarterly SBIC reports on its website instead of only annual reports
• Reports must include the number of licensed SBICs and how much SBA-guaranteed financing each has received
• SBICs can receive up to $2 of SBA-guaranteed financing per $1 of private capital raised, up to a $150 million limit
• Reports must track the number of jobs created or sustained through SBIC investments

Arguments supporters make

• Quarterly reporting gives taxpayers and policymakers a much clearer, up-to-date picture of how government-guaranteed money is being invested in small businesses.
• More frequent public data makes it easier to spot problems or inefficiencies in the SBIC program before they grow into larger issues.
• Transparency about jobs created and financing issued helps demonstrate whether the program is delivering real results for small businesses and communities.

Arguments opponents make

• Requiring quarterly reports instead of annual ones adds administrative work and cost to the SBA without clear evidence that more frequent data would change outcomes.
• Some of the data required, like job counts tied to SBIC investments, can be difficult to measure accurately, which could make the reports misleading rather than informative.
• The bill adds new bureaucratic requirements that may divert SBA staff time and resources away from actually supporting small businesses and processing applications.

Tradeoffs

More frequent public reporting increases government transparency and accountability but also increases the administrative burden on the SBA, requiring staff time and resources that could otherwise be directed toward program operations.

Current status in Congress: Passed House.

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