SBA Fees Get a Tweak: Accrual SBICs Finally Clarified
Published Date: 12/5/2025
Rule
Summary
The Small Business Administration is updating rules to clear up how annual fees work for Small Business Investment Companies (SBICs) with different license types. This change mainly affects SBICs holding regular and Accrual licenses, making fee charges easier to understand and fairer. The new rules kick in on January 20, 2026, unless someone raises a big objection by January 5, 2026.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Different Annual Charges by Debenture Type
If your firm is an SBIC, SBA may charge a different Annual Charge for Accrual Debentures than for other Debentures. SBA says it may set and publish Annual Charges by Debenture type (for example, Accrual Debentures versus standard Debentures) to keep the SBIC program budget neutral and within the overall ceiling of 1.38 percent per year.
Minimum Annual Charge Increase Schedule
The rule sets minimum Annual Charge floors for leverage commitments: a general floor of 0.25% per year, and higher minimums for new leverage commitments approved on or after specific dates — 0.30% for commitments approved on or after October 1, 2026; 0.35% for commitments approved on or after October 1, 2027; and 0.40% for commitments approved on or after October 1, 2028. The overall ceiling remains no more than 1.38% per year.
Annual Charges Published Annually
SBA will publish the Annual Charge rates for each federal fiscal year on its website and in the Federal Credit Supplement, showing rates by type of Debenture so SBICs can see the applicable Annual Charge each year.
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Key Dates
Department and Agencies
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