SSBIC

AcronymDefinition
SSBICSpecialized Small Business Investment Company
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1044(a), individuals and C corporations can elect to roll over any realized gain on the sale of publicly traded securities if the proceeds are reinvested into an SSBIC within 60 days from the date of the sale.
By their charter, SSBICs are required to invest in businesses owned by the socially or economically disadvantaged.
He also wants to see the bill changed to include gains realized by corporations that purchase stock or partnership interests of SSBICs.
If the entire proceeds of publicly traded securities are rolled over into an SSBIC, the gain is deferred--not excluded--because the basis in the SSBIC stock or partnership interest must be reduced by the amount of the gain that would otherwise be recognized.
The amount of gain that otherwise would be recognized reduces a taxpayer's basis in the SSBIC interest; when (or if) this interest eventually is sold, any gain is recognized and taxed.
SSBICs also leverage outside capital and then invest the money in disadvantaged or minority-owned businesses.
Another benefit to holders of corporate SSBIC stock is the fact that, under I.
Like the typical SSBIC, Renaissance is a private company licensed and funded in part by the Small Business Administration.
As an SSBIC, Milestone will receive $4 in federal money for every dollar it raises.
We hope to increase the private capital in the SSBIC industry by 50% to 100% within the next five years," says Brittain.
To the best of the company's knowledge Freshstart is the only publicly traded SSBIC.
Freshstart is, to the best of management's knowledge, the only publicly traded SSBIC.