The Small Business Administration (SBA) recently proposed changes to the Small Business Investment Company (SBIC) program to diversify its network and introduce an alternative capital-raising structure. Despite the program’s popularity, the SBA sees gaps in funding, especially in underserved communities. If approved, the reforms would create opportunities for new private funds and managers to provide long-term debt and equity investments to marginalized startup companies and small businesses. The changes would also add more funding to companies focused on critical technologies. The investment diversification and growth proposal is open for public comment until December 19th.