Spurring Business in Communities Act of 2017

Spurring Business in Communities Act of 2017

(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:

• require the Small Business Administration (SBA), in reviewing and processing a small business investment company's (SBIC's) application, to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and
• exempt applicants in underlicensed states from certain SBA capital requirements.