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The National Association of Small Business Investment Companies (NASBIC) is the professional association for the Small Business Investment Company (SBIC) industry. NASBIC is the oldest organization of venture capitalists in the world. Formed just months after the passage of the Small Business Investment Act of 1958, NASBIC has played a pivotal role in promoting the growth and vitality of the industry for nearly half a century. The association has vigorously campaigned for and attained the requisite Federal laws, regulations, policies, and low-cost capital that SBICs require to make successful long-term debt and equity venture investments in new and growing small businesses. NASBIC played major roles in the development and passage of the Small Business Equity Enhancement Act of 1992â€"the legislation that was the foundation of the current programâ€"and several additional pieces of legislation that have built upon that foundation. These efforts have dramatically improved the SBIC program and brought about the largest influx of private and public money in the program's history. As the national trade association for the SBIC industry, NASBIC has always represented the overwhelming majority of all active SBICs. The association also represents the general interests of those applying for SBIC licenses, as well as venture firms, accountants, attorneys, investment bankers, and other professionals who desire to stay current with the industry or provide services to NASBIC's SBIC members. To achieve its goals, NASBIC combines the voluntary activities of its members and leaders with the professional work of its staff. Each member's voice is magnified by this cooperative effort. A 30-member Board of Governors, elected annually by their peers, establishes NASBIC's policies, priorities, and working agendas. Five national Officers elected from the Board manage the association's activities. These Governors and Officers are active industry executives who represent the various types and sizes of SBICs throughout the country. NASBIC's staff is a small, highly qualified team of professionals located in Washington, DC. Working directly and with contract consultants, the staff implements the Board's action plans and represents the interests of NASBIC members before Congress, executive agenciesâ€"particularly the Small Business Administrationâ€"and the media. In addition, the staff provides members with a broad range of networking, educational, and consulting services and products.