The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam. Overview & History Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. The SBA was officially established in 1953, but its philosophy and mission began to take shape years earlier in a number of predecessor agencies, largely as a response to the pressures of the Great Depression and World War II. The Reconstruction Finance Corporation (RFC), created by President Herbert Hoover in 1932 to alleviate the financial crisis of the Great Depression, was SBA's grandparent. The RFC was basically a federal lending program for all businesses hurt by the Depression, large and small. It was adopted as the personal project of Hoover's successor, President Franklin D. Roosevelt, and was staffed by some of Roosevelt's most capable and dedicated workers. Concern for small business intensified during World War II, when large industries beefed up production to accommodate wartime defense contracts and smaller businesses were left unable to compete. To help small business participate in war production and give them financial viability, Congress created the Smaller War Plants Corporation (SWPC) in 1942. The SWPC provided direct loans to private entrepreneurs, encouraged large financial institutions to make credit available to small enterprises, and advocated small business interests to federal procurement agencies and big businesses. The SWPC was dissolved after the war, and its lending and contract powers were handed over to the RFC. At this time, the Office of Small Business (OSB) in the Department of Commerce also assumed some responsibilities that would later become characteristic duties of the SBA. Its services were primarily educational. Believing that a lack of information and expertise was the main cause of small business failure, the OSB produced brochures and conducted management counseling for individual entrepreneurs. Congress created another wartime organization to handle small business concerns during the Korean War, this time called the Small Defense Plants Administration (SDPA). Its functions were similar to those of the SWPC, except that ultimate lending authority was retained by the RFC. The SDPA certified small businesses to the RFC when it had determined the businesses to be competent to perform the work of government contracts. By 1952, a move was on to abolish the RFC. To continue the important functions of the earlier agencies, President Dwight Eisenhower proposed creation of a new small business agency -- the Small Business Administration (SBA). In the Small Business Act of July 30, 1953, Congress created the Small Business Administration, whose function was to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulated that the SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property. By 1954, SBA already was making direct business loans and guaranteeing bank loans to small businesses, as well as making loans to victims of natural disasters, working to get government procurement contracts for small businesses and helping business owners with management and technical assistance and business training. The Investment Company Act of 1958 established the Small Business Investment Company (SBIC) Program, under which SBA licensed, regulated and helped provide funds for privately owned and operated venture capital investment firms. They specialized in providing long-term debt and equity investments to high-risk small businesses. Its creation was the result of a Federal Reserve study that discovered, in the simplest terms, that small businesses could not get the credit they needed to keep pace with technological advancement. In 1964, SBA began to attack poverty through the Equal Opportunity Loan (EOL) Program. The EOL Program relaxed the credit and collateral requirements for applicants living below the poverty level in an effort to encourage new businesses that had been unable to attract financial backing, but were nevertheless sound commercial initiatives. SBA has grown in terms of total assistance provided and its array of programs tailored to encourage small enterprises in all areas. SBA's programs now include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. The SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade.

Bank of Hawaii Corporation is a bank holding company. The Company’s operating subsidiary is Bank of Hawaii (the Bank). The Bank provides a range of financial services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Bank's subsidiaries include Bank of Hawaii Leasing, Inc., Bankoh Investment Services, Inc. and Pacific Century Life Insurance Corporation. The Bank's subsidiaries are engaged in equipment leasing, securities brokerage, investment services and providing credit insurance. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other. Its other subsidiary is the BOHC Investment Fund, LLC (the Fund). The Fund was organized to invest in and hold securities of Qualified High Technology Businesses. As of December 31, 2012, its available-for-sale investment securities portfolio consisted of securities with an average base duration of less than three years.

Elemental Impact is a consulting organization established in 2009, dedicated to promoting sustainability and environmental stewardship within the business sector. Based in Honolulu, Hawaii, it focuses on initiatives that encourage waste reduction, recycling, and efficient resource utilization across various industries. By providing resources, tools, and guidance, Elemental Impact assists companies in adopting sustainable practices that enhance operational efficiency and environmental responsibility. The organization emphasizes the importance of equity and access in climate solutions, filling critical gaps in funding innovative climate technologies for real-world applications. Through collaboration, education, and advocacy, Elemental Impact aims to cultivate a culture of sustainability and create a positive impact on the planet.

Stonepeak Infrastructure Partners is a firm that specializes in alternative investments, focusing on infrastructure and real assets. The company manages capital on behalf of over 270 global investors, including pensions and endowments. Stonepeak provides a range of investment vehicles that encompass private equity and credit, as well as operational support and committed partnerships. Its investment strategy targets critical sectors such as transport and logistics, communications, water, energy transition, and renewable energy. By prioritizing sustainable growth, Stonepeak aims to create value for its stakeholders while contributing to the development of essential infrastructure.

Starboard Value is an investment adviser that offers investors with tips on investing in publicly traded U.S. small cap companies. It was created through a spin-off transaction from Ramius LLC, the investment management subsidiary of the Cowen Group. Starboard Value was founded in March 2011 and is based in New York, United States.

Tribeca Venture Partners is a multi-stage venture capital firm that invests in digital media, e-commerce, fintech, education, ad tech, and mobile apps sectors. The firm was founded in 2011 by Brian Hirsch and Chip Meakem and is based in New York, United States.

Lumina Foundation is an independent non-profit private foundation based in Indianapolis, Indiana, established in 2000. Its primary mission is to expand access to education, aiming to increase the proportion of Americans with degrees, certificates, and other high-quality credentials to 60 percent by 2025. The foundation employs an outcomes-based approach that emphasizes the design and development of an equitable, accessible, responsive, and accountable higher education system. Additionally, Lumina Foundation fosters a national sense of urgency for action to achieve its educational goals through research, information dissemination, and innovation.

JANA Partners is an activist investment management firm based in New York that specializes in identifying undervalued companies poised for significant change. The firm focuses on investment opportunities with clear catalysts that can unlock value, such as strategic campaigns or operational improvements. By offering both short- and long-term investment options, JANA Partners aims to provide capital that enables these organizations to grow and enhance long-term profitability. The firm’s approach is centered on engaging with the companies in which it invests to drive meaningful transformations that benefit all stakeholders.

Contour Venture Partners is a venture capital firm based in New York, founded in 2005. The firm specializes in investing in companies that focus on information technology and innovative software solutions, particularly within the enterprise SaaS, vertical B2B SaaS, and financial services sectors. With a proven track record of supporting over 85 companies through various market cycles, Contour emphasizes the importance of building strong relationships with management teams to achieve long-term success. The firm combines experience, industry expertise, and a commitment to detail to help businesses establish a sustainable competitive advantage. As a Registered Investment Adviser, Contour Venture Partners is dedicated to fostering growth in technology-based sectors, including business products and services, consumer products, and the Internet of Things.

Valsoft Corporation is a holding company that focuses on acquiring and growing vertical-market software enterprises. The company aims to provide software and related technology services to a diverse and expanding consumer base. Valsoft employs a decentralized management approach, allowing its acquired companies to operate independently while benefiting from shared resources, analytics, guidance, and capital. This strategy enables these companies to achieve stability and enhance their marketing efforts, ultimately fostering growth and innovation in the software industry.

ORIX Growth Capital is a venture capital arm of ORIX

Salesforce is a leading cloud-based software company that specializes in customer relationship management (CRM) solutions. It offers a suite of applications designed to help businesses manage their sales, customer service, marketing, e-commerce, and analytics. The company's flagship Customer 360 platform integrates customer data from various systems and devices, providing a unified view that enhances decision-making and operational efficiency. Salesforce's offerings include Service Cloud for customer support, Marketing Cloud for digital marketing, and Commerce Cloud for e-commerce solutions, among others. Additionally, Salesforce Ventures, the company's investment arm, supports emerging enterprise software companies, providing them with funding, resources, and access to a vast network in the cloud ecosystem. Through its innovative solutions and strategic investments, Salesforce enables organizations to connect with their customers more effectively and drive business growth.

Canaan Partners is an early-stage venture capital firm founded in 1987 and based in San Francisco, California, with additional offices in Westport, Connecticut, Israel, and India. The firm specializes in investing in entrepreneurs with innovative ideas across various sectors, primarily focusing on technology and healthcare. Canaan manages over $5 billion in capital and has invested in more than 250 companies, achieving over 190 exits. Its investment strategy encompasses a range of sectors, including fintech, enterprise/cloud, digital health, biopharma, medical technology, and frontier tech, with funding capabilities from $1 million to $20 million. The firm is recognized for its experienced team of investment professionals who leverage their extensive backgrounds in technology, infrastructure, communications, and life sciences to support promising ventures at various stages of development.

TTV Capital LLC is a venture capital firm based in Atlanta, Georgia, that specializes in investments within the financial technology sector. Founded in 2000, TTV Capital focuses on early to late-stage and expansion stage investments in companies that provide products and services to the financial services industry. Its investment portfolio encompasses various areas, including banking, payments, capital markets, data analytics, financial services software, and e-commerce, among others. TTV Capital typically invests between $0.5 million and $3 million in private companies with annual revenues ranging from $1 million to $10 million. The firm emphasizes a founder-friendly approach, leveraging deep industry knowledge and extensive connections to support its portfolio companies.

The Courtney Group provides private equity and investment banking services. In 1995 The Courtney Group opened its doors with a vision that in a world of giant organizations with a broad array of services, there was room for a small firm offering the highest levels of professionalism and integrity, and senior-level attention to clients and relationships.

Revelstoke Capital Partners LLC is a private equity firm established in 2013 and headquartered in Denver, Colorado, with an additional office in New York, New York. The firm specializes in middle-market investments, focusing primarily on the healthcare sector and related business services. Its investment strategy encompasses acquisitions, buyouts, growth equity, and consolidations, targeting companies involved in healthcare services and products, including behavioral health, healthcare education, revenue cycle services, and medical technology. Revelstoke typically seeks to invest between $10 million and $250 million per transaction, targeting companies with an EBITDA of at least $5 million and a maximum enterprise value of $500 million. The firm engages in majority, minority, and control investments, operating either as a sole investor or within a consortium.

Summit Partners, founded in 1984 and based in Boston, Massachusetts, is a private equity firm that specializes in growth equity investments across various sectors, including technology, healthcare, and life sciences. The firm has invested in over 460 companies, helping them enhance their operations and financial performance through infrastructure development, executive recruitment, and strategic guidance. Summit Partners also assists clients in navigating public offerings and mergers. With a team of more than 90 investment professionals located in Boston, Palo Alto, and London, the firm has raised nearly $15 billion in capital and maintains a diverse investment portfolio, including significant holdings in rapidly growing companies with established business models. Summit's investment strategy allows it to deploy substantial capital, ensuring that it can support companies at various stages of growth.

Bain Capital Private Equity, LP is a private equity firm that specializes in a diverse range of investment strategies, including control buyouts, expansion financing, and growth capital investments. Founded in 1984 and headquartered in Boston, Massachusetts, the firm operates as a subsidiary of Bain Capital, LLC, with additional offices in North America, Europe, Asia, and Australia. Bain Capital Private Equity primarily targets investments in sectors such as consumer, financial and business services, healthcare, industrial, and technology. Within these sectors, the firm focuses on various industries, including retail, healthcare devices, automotive, and digital media. The firm typically invests between $5 million and $1 billion in companies with enterprise values ranging from approximately $250 million to $836 million. Bain Capital Private Equity aims to partner closely with management teams to drive growth and enhance the value of its portfolio companies, leveraging its global presence and deep industry expertise.

Fidelity National Information Services provides core processing and ancillary services to banks, but its business has expanded over time. By acquiring SunGard in 2015, the company now provides record-keeping and other services to investment firms. With the acquisition of Worldpay in 2019, FIS was providing payment processing services for merchants and holding leading positions in the United States and United Kingdom. But the company sold off a majority interest in Worldpay and now has only a minority stake.

Concord Music is an independent music and theatrical rights company based in Nashville, Tennessee. The company specializes in the development, management, and acquisition of sound recordings, music publishing, and theatrical performance rights. It represents a diverse array of artistic works, including songs, composed pieces, plays, and musicals. Concord Music is dedicated to managing recorded music activities and publishing music, effectively supporting artists and their creative endeavors. Through its various initiatives, the company aims to foster and promote a rich catalog of music and theatrical content.

SK Telecom is dedicated to developing advanced telecommunications technologies for the mobile lifestyle. SK Telecom has established an ecosystem by forming strategic alliances with Asia's information communications operators. In addition, they actively participate in a variety of international cooperation activities with overseas telecommunication institutions, as well as international organizations including the ITU, PTC and CDG, and more. Through such efforts, they continue to reinforce their competency and reach out to the world.

SV Health Investors, established in 1993 and headquartered in Boston, Massachusetts, is a prominent venture capital and growth equity firm specializing in the healthcare and life sciences sectors. The firm manages over $2 billion across seven private healthcare funds and has a 20-year track record of investing in transformative companies and treatments in both the US and Europe. SV Health Investors focuses on a diverse array of areas, including therapeutics, biotechnology, healthcare services, dementia, and medical technology, supporting entrepreneurs who drive innovation and advancements in healthcare. With additional offices in San Francisco and London, the firm is committed to fostering breakthroughs that can significantly improve patient care and health outcomes.

Armentum Partners is a financial services firm focused on providing debt capital raising solutions to technology and healthcare companies.

NewSpring Capital is a private equity firm established in 1999 and located in Radnor, Pennsylvania. The firm focuses on investments in sectors such as business services, enterprise and infrastructure technology, security, and business intelligence. By targeting these areas, NewSpring Capital aims to support and grow companies that are positioned for long-term success.

KSL Capital Partners, founded in 1992 and based in Denver, Colorado, is a private equity firm specializing in investments within the leisure and hospitality sectors. The firm focuses on companies involved in hotels, resorts, clubs, fitness, family entertainment, and skiing, as well as hospitality-related real estate. KSL Capital Partners collaborates closely with the management teams of its portfolio companies to implement tailored business plans aimed at enhancing cash flow. In addition to organic growth strategies, the firm actively seeks opportunities for expansion through development projects, ancillary revenue streams, and strategic add-on acquisitions.

Serent Capital is a private equity firm established in 2008 and headquartered in San Francisco, California. The firm specializes in investing in successful companies that provide effective solutions to meet customer needs, primarily focusing on software-as-a-service and service business models across various sectors, including business services, education, finance, and healthcare. By targeting established businesses, Serent Capital aims to support their growth and navigate the evolving challenges they encounter. As a Registered Investment Adviser, the firm is dedicated to fostering the development of its portfolio companies while delivering value to its investors.

Saratoga was founded in 1984 to execute middle-market, buyout investments as part of Dillon, Read & Co. Inc. Since then, Saratoga has formed four partnerships for such investments, responsible for investing approximately $750 million in 35 portfolio companies. Saratoga has been an independent firm since its spin-off from UBS in 1998.

Callais Capital Management, LLC is a family office and venture capital investment firm based in Thibodaux, Louisiana, founded in 2014. The firm specializes in private equity, venture capital, and early-stage investments, focusing on sectors such as sports, social media, carbon production, and financial technology. Callais Capital seeks to build regional portfolios of startups that feature diverse, equitable, and inclusive teams, particularly emphasizing the evolving startup ecosystem along the Third Coast and Mississippi River Valley. In addition to equity investments, the firm also engages in debt financing and invests in real estate projects and corporate expansion financing.

SunTrust Banks, Inc. operates as the holding company for SunTrust Bank, providing a wide range of financial services to consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. The company is divided into two primary segments: Consumer and Wholesale. The Consumer segment offers services such as deposits, payments, home equity lines, personal loans, credit cards, and brokerage products, along with residential mortgage offerings. The Wholesale segment focuses on capital markets solutions, asset-based financing, investment banking, and cash management services, including treasury and payment solutions. SunTrust delivers its products through traditional and in-store branches, ATMs, and various digital banking channels. Founded in 1891 and headquartered in Atlanta, Georgia, SunTrust operated 1,218 full-service banking offices across several states as of December 31, 2018. In 2019, SunTrust was acquired by BB&T Corporation, subsequently merging to form Truist, the sixth-largest U.S. bank holding company.

Mizuho Asia Partners is a private equity firm established in 2012 and based in Singapore. The firm specializes in investing in and nurturing promising mid-cap companies, particularly within the technology sector, across Southeast Asia. By focusing on this region, Mizuho Asia Partners aims to capitalize on the growth potential of mid-cap enterprises, providing them with the necessary resources and support to achieve their strategic objectives and enhance their market presence.

Activant Capital Group LLC is a private equity and venture capital firm founded in 2015, with offices in Greenwich, Connecticut, and Berlin, Germany. The firm specializes in making investments in high-growth companies across various sectors, including fintech, commerce, supply chain, healthcare, software and hardware, logistics, and agriculture. Activant focuses on series A, B, and C financing, as well as seed, late-stage venture, and growth equity investments. The firm targets data-heavy businesses in B2B, industrial, and agriculture sectors and seeks to invest between $20 million and $40 million in each opportunity. With a global investment approach, Activant primarily focuses on opportunities within North America.

New Enterprise Associates, Inc. is a private equity and venture capital firm founded in 1977 and headquartered in Menlo Park, California, with additional offices in India and China. The firm specializes in investing across various stages of business development, from seed funding to public offerings, with a strong emphasis on the technology and healthcare sectors. Its investment strategy encompasses a wide range of industries, including information technology, consumer internet, financial technology, software, healthcare services, life sciences, biopharmaceuticals, and energy technology. New Enterprise Associates actively engages with entrepreneurs to support the growth of their companies, making investments between $0.05 million and $20 million. The firm has a global investment focus, particularly in regions such as Asia, Brazil, and the United States.

UnitedHealth Group is a leading healthcare company based in Minnetonka, Minnesota, that offers a wide range of services, including health technology, financial services, and pharmacy services. The company provides medical benefits to approximately 50 million members globally, emphasizing managed care through various insurance plans such as employer-sponsored, self-directed, and government-backed options. UnitedHealth Group leverages clinical data and intelligence to redesign and automate processes, enhancing both administrative operations and clinical decision-making. Its expansive Optum division complements its insurance offerings by delivering comprehensive healthcare services, including medical and pharmaceutical benefits, outpatient care, and analytics to both affiliated and third-party clients. Through its investment arm, UnitedHealth Group Ventures, the company also supports startups that aim to improve healthcare affordability and transparency.