liability company. Determination is made as to need in area, general business reputation and character of proposed owners and management and probability of successful operations. All loans to small concerns shall be of such sound value, or so secured, as reasonably to assure repayment. APPLICATION AND AWARD PROCESS: Application Procedure: Request information and appropriate forms from SBA Central office. Complete application requirements and submit with a minimum application fee payment of $10,000 to SBA Central Office. 112 Award Procedure: Applicant is notified by issuance of a license from the Investment Division of the Small Business Administration. Range of Approval/Disapproval Time: Average of 120 days. Appeals: Proponents may reapply at any time. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: An SBIC or an SSBIC in good standing, with a demonstrated need for funds, may receive leverage based on its private capital. An SBIC or SSBIC may receive leverage of as much as 300 percent of its private funds. The maximum amount of leverage varies according to the SBIC's private capital. For private funds that do not exceed $17.5 million, maximum leverage is 300 percent of the private funds. For private capital over $17.5 million but not exceeding $35.1 million, leverage shall not exceed $52.5 million plus 200 percent of the amount over $17.5 million. If private capital is over $35.1 million, leverage shall not
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