WASHINGTON, D.C. (October 24, 2018) – Today, the Small Business Investor Alliance (SBIA), the leading association of lower middle market private equity funds and investors, recognized Congresswoman Stephanie Murphy (D-FL) for her support of small business investment and presented her with SBIA’s Champion of Small Business Investing Award. Rep. Murphy is among a group of select Members of Congress whom SBIA is honoring in recognition of their support for small business access to capital.
“Congresswoman Murphy has been an incredible advocate for investment in America’s small businesses through her support of the Small Business Investment Company (SBIC) program and her work on the Small Business Committee,” said SBIA President Brett Palmer. “Small business investors empower growth and job creation across the country, and the legislative work of our Small Business Champions in Congress has been instrumental to facilitating greater capital access for America’s entrepreneurs.”
The award was presented to Rep. Murphy at GENICON–a manufacturer of surgical equipment in Winter Park, Florida–by SBIA members Dan Penberthy of Rand Capital and Chris Harris of Advantage Capital, along with GENICON executives and Board Members.
“The support of Congresswoman Murphy improves not only the access to capital for small businesses in her region, but also helps to promote economic and job growth across the USA,” said Mr. Penberthy.
SBICs provide critical growth capital to American small businesses to help them expand their operations and create jobs; they have invested more than $2.6 billion in Florida businesses over the past 10 years.
About Rand Capital
Originally licensed in 2002, Rand Capital SBIC, Inc. has been a long-tenured partner of the Small Business Administration’s SBIC program. Rand Capital SBIC has invested over $65 million across more than 55 portfolio businesses with a focus on investing capital in underserved markets and supporting veteran and women-owned businesses. Rand’s ability to fund portfolio investments of $500,000-$2 million, for which there exists a large funding gap, fills a critical need for small businesses seeking growth capital.
About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 50 years. For more information, visit www.SBIA.org or call 202-628-5055.