BOISE, Idaho – U.S. Senators Jim Risch (R-Idaho) and Todd Young (R-Ind.) introduced the Investing in Main Street Act to increase investment in small businesses. 

The legislation would allow banks to invest up to 15% of their capital in Small Business Investment Companies (SBIC). Since 2020, SBICs have invested nearly $120 million into businesses across the Gem State.

“Idaho small businesses fuel our economy, employ our friends and family, and are the lifeblood of our communities,” said Risch. “The Investing in Main Street Act supports Gem State entrepreneurs’ access to early-stage capital by allowing banks to invest more to Small Business Investment Companies.”

“The Small Business Investment Company program has provided critical support to countless Hoosier small businesses,” said Young. “Our legislation will help spur further investment in innovative startups and unlock capital for existing, high-growth small businesses across America.”

In 1958, the Small Business Administration launched the SBIC program to facilitate and regulate investment from privately owned companies to U.S. small businesses. The program has since helped many small businesses expand their competitive edge, create jobs, and contribute to their local economies.

Risch and Young are joined by U.S. Senators Tammy Duckworth (D-Ill.) and Ruben Gallego (D-Ariz.) in introducing the Investing in Main Street Act.