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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Dec 20, 2018.
Spurring Business in Communities Act of 2017
(Sec. 2) This bill amends the Small Business Investment Act of 1958 to:
require the Small Business Administration (SBA), in reviewing and processing a small business investment company's (SBIC's) application, to give first priority to an SBIC applicant located in an underlicensed state (i.e., a state in which the number of licensees per capita is less than the median number of licensees per capita for all states) with below median financing; and exempt applicants in underlicensed states from certain SBA capital requirements.