The United States Small Business Administration (SBA) has voided the license of the New York Credit SBIC Fund L.P. This action was taken under the authority of section 309 of the Small Business Investment Act of 1958 and the regulations in 13 CFR 107.1900. The license, numbered 03/03-0265, allowed the Fund to function as a small business investment company. This decision means the New York Credit SBIC Fund L.P. can no longer operate under that license.
Simple Explanation
The Small Business Administration (SBA) has taken away a special permission from the New York Credit SBIC Fund L.P., so they can no longer work as a small business helper. This happened because they didn't meet the rules needed to keep their permission, called a license.