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LAURIE GIANDOMENICO, PH.D, ADDRESSES THE SBIC PROGRAM AT THE WHITE HOUSE

February 19, 2024
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Growing Impact

Laurie Giandomenico, Ph.D.

On Wednesday, February 14th, the White House National Economic Council (NEC) and the Small Business Administration (SBA) hosted a convening with business leaders from around the country. Among them was our own Laurie Giandomenico, Ph.D., SVP and Chief Acceleration Officer. The event was held to celebrate new reforms to the Small Business Investment Company (SBIC) program that expand the spectrum and diversity of private sector capital supporting small businesses and startups.

MITRE is a proud partner with the SBA as well as the Office of Strategic Capital (OSC) and Laurie was on hand as one of the speakers at the event along with the SBA Administrator, Isabel Guzman and a panel of Limited Partners and supporters. During the event Administrator Guzman announced progress in expanding access to private equity and debt capital for more American small businesses following a set of recent regulatory reforms to the SBA’s $42B SBIC program.

Last year alone, the program invested $8B in more than 1,500 companies that generated over 130,000 US jobs within small businesses. Financing to women-owned, minority-owned, and veteran-owned small businesses from the SBIC program totaled nearly $670 million, over a 25% increase from the year prior.