Saratoga Investment Corp SBIC II; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest

• Citation: 86 FR 55102
• Record Number: 2021-21630
• Published date: 05 October 2021
• Section: Notices
• Court: Small Business Administration

Federal Register, Volume 86 Issue 190 (Tuesday, October 5, 2021)

[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
                [Notices]
                [Page 55102]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2021-21630]
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                SMALL BUSINESS ADMINISTRATION
                [License No. 02/02-0687]
                Saratoga Investment Corp SBIC II; Notice Seeking Exemption Under
                Section 312 of the Small Business Investment Act, Conflicts of Interest
                 Notice is hereby given that Saratoga Investment Fund II, L.P. 535
                Madison Ave, 4th Floor, New York, NY, 10022 a Federal Licensee under
                the Small Business Investment Act of 1958, as amended (``the Act''), in
                connection with the financing of a small concerns, has sought an
                exemption under Section 312 of the Act and Section 107.730, Financings
                which Constitute Conflicts of Interest of the Small Business
                Administration Saratoga Investment Corp SBIC II is proposing to provide
                financing to Teachers of Tomorrow, 5599 San Felipe Street, Suite 1425,
                Houston, TX 77056, to support the company's growth.
                 The proposed transaction is brought within the purview of Sec.
                107.730 of the Regulations because Saratoga Investment Funding LLC, an
                Associate of Saratoga Investment Corp SBIC II, L.P., by virtue of
                Common Control as defined at Sec. 107.50, holds a term loan in
                Teachers of Tomorrow and the proposed transaction would refinance such
                obligation to an Associate. Both Saratoga Investment Corp SBIC II, and
                Saratoga Investment Funding LLC are wholly owned by Saratoga Investment
                Corp, which holds an equity investment in Teachers of Tomorrow which
                will also be redeemed through the transaction.
                 Therefore, the proposed transaction is considered self-deal
                pursuant to 13 CFR 107.730 and requires a regulatory exemption. Notice
                is hereby given that any interested person may submit written comments
                on the transaction within fifteen days of the date of this publication
                to Associate Administrator for Investment, U.S. Small Business
                Administration, 409 Third Street SW, Washington, DC 20416.
                Bailey DeVries,
                Associate Administrator, Office of Investment and Innovation.
                [FR Doc. 2021-21630 Filed 10-4-21; 8:45 am]
                BILLING CODE 8026-03-P