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SBA to Implement New IT Platform for Small Business Investment Company Records

1 min read

Jeff Brody

The Small Business Administration intends to establish a new information technology platform designed to help the agency manage its records pertaining to the Small Business Investment Company program.

SBA said Thursday in a Federal Register notice it will implement the SBIC Information System as part of efforts to address the program’s risk management and regulatory oversight issues.

SBICIS is composed of a data warehouse,an information portal and risk, investment and customer relationship management tools. The platform will work to store data electronically and protect files through multiple security measures such as user permissions, access controls, and event logging.

The agency noted it will answer requests for records access in accordance with Privacy Act regulations and will retrieve information by “SBIC or Portfolio Company Name, affiliation with a particular SBIC personal identifier, SBA identifier, employee identification number or any other data field that would enable SBA to perform its official duties.”