WASHINGTON, D.C. – Congressman Brad Finstad (MN-01) applauded the passage of the SBIC Reporting Modernization Act of 2026 in the U.S. House of Representatives. Introduced by Congressman Finstad and Congresswoman Kelly Morrison (MN-03) earlier this year, this bipartisan legislation requires the Small Business Administration (SBA) to publish quarterly, rather than annually, reports regarding the performance of the Small Business Investment Company (SBIC) program, ultimately enhancing reporting metrics and improving Congressional oversight.
Congressman Finstad spoke on the House Floor in support of the bill’s passage. His remarks are here and below, as prepared for delivery:
Thank you, Mr. Speaker, and thank you Chairman Williams for yielding.
I rise today in strong support of H.R. 10353, the SBIC Reporting Modernization Act of 2026.
This bipartisan legislation requires the Small Business Administration to publish quarterly reports regarding the performance of the Small Business Investment Company program, ultimately enhancing Congressional oversight.
The SBIC program is one of the highest performing programs within the SBA and plays a vital role in helping our entrepreneurs and small business owners across the country access the capital they need to start and grow their businesses.
Requiring the SBA to publish quarterly, rather than annually, reports on the performance of this program will not only ensure Congress and the American people have clear information and reporting measures, but it will also ensure our small businesses are succeeding.
This is a commonsense, bipartisan effort that will deliver for Main Street.
I urge a YES vote and I yield back.
