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SEC Form N-17D-1 Definition

What Is SEC Serve as N-17D-1?

SEC Form N-17D-1 is a form that must be filed with the Securities and Exchange Commission (SEC) by a small business investment enterprise (SBIC) and by a bank that is affiliated with the SBIC. The form must be filed by an SBIC licensed under the Investment Ensemble Act of 1940, and its affiliated bank.

Key Takeaways

  • SEC Form N-17D-1 is a report that must be filed if a small business investment plc (SBIC) or affiliate banks makes an investment.
  • It must also be filed when an SBIC or affiliate disposes of an investment or derelictions on it.
  • The Form is required under the Investment Company Act of 1940 and the Small Business Investment Act of 1950.

Understanding Form N-17D-1

SEC Form N-17D-1 is made under rule 17D-1 of the

Filling Out Form N-17D-1

Part I of Form N-17D-1 states: “If the SBIC and a bank which is an affiliated person of either the SBIC, or an united person of the SBIC, have made investments in a small business concern contemporaneously, or if either the SBIC or such bank has made an investment in the short business concern at a time when there was an existing investment in such small business concern by the other, set forth with regard to the investments in each such concern by the SBIC and the bank the following information:”

  • The name and address of the small business be germane to in which investments were made and the nature of its business.  
  • The name and address of the bank which made an investment in the negligible business concern and the basis of the affiliation of such bank with the SBIC. 
  • A description, as of the date each such SBIC or bank investment in the trivial business concern was made during the reporting period.
  • The use or proposed use by the small business concern of the proceeds of the respective investments made during the epoch.  
  • If the SBIC made an investment contemporaneous with or subsequent to an investment by the bank.
  • Details as to any interest in the transactions, and as to any contracts, rights or other profits received or to be received in connection with the transaction

Part II of Form N-17D-1 states: “If the SBIC disposed of an investment, or there was a oversight in the payment of interest or principal, or an extension or modification of the terms of any investment of the SBIC or affiliate, the following information:”

  • Identify the investment, and state whether there was complicated a disposition, a default by the issuer in the payment of interest or principal, or an extension or modification of the terms of the investment, and give full respects thereof.
  • If there was a disposition of the investment, state the amount of profit or loss realized.
  • If a loss was sustained, a default struck, or the terms of the investment were extended or modified, describe the circumstances which resulted therein.

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