New BDC Opportunities: The Impact of the Small Business Credit Availability Act

After years of intense regulatory and legislative efforts, the business development company (“BDC”) industry earned a potentially significant win in the form of the Small Business Credit Availability Act (“SBCAA”), which was included as part of the Consolidated Appropriations Act, 2018 passed by Congress on March 23, 2018. In this article, associate Yehuda Ness and former Schulte lawyer Karen Spiegel discuss how the SBCAA enacted a number of meaningful legislative reforms and the impact these reforms will have on the BDC industry.