Today, the Small Business Investor Alliance said it lauded the US House of Representatives for passing HR 1105, or otherwise known as the Small Business Capital Access and Job Preservation Act. The Act will reportedly aid small private equity funds as the US Securities and Exchange Commission will not require private equity to register its funds.

President of SBIA Brett Palmer said, "We were pleased the House focused its attention on small business investors, and we call on the Senate to follow the House and take action on this bipartisan legislation. Small businesses depend on investors for the capital they need to grow and hire. If this bill becomes law then the reduction of costly regulatory burdens facing small private equity funds will free up capital and time that will help growing businesses expand and add jobs to our economy. We thank the bill sponsors, Representatives Robert Hurt (VA-5), Jim Himes (CT-4), Scott Garrett (NJ-5) and Jim Cooper (TN-5) for their work to advance this important legislation through the House."

The SBIA, according to its profile provided on 4Traders, is a premir organization composed of lower middle market private equity investors and funds. Members of the organization provide much-needed capital to small businesses all over the world. SBIA claimed to play a key role in promoting the viability and growth of the private equity industry for over 50 years.

A press release on 4Traders said SBIA had been championing the Act since it was introduced to the Congress. During a committee hearing, the association reportedly participated as the hearing's only witness regarding the Act. Together with Ironwood Capital, SBIA member Marc Reich Marc Reich has testified in front of the Financial Services Capital Markets Subcommittee of the House on May 24 this year. Reich's testimony regarding the Act highlighted the astronomical initial and yearly costs of registration of private equity funds with the SEC and the one-size-fits-all and inapplicability of majority of the SEC rules to the private equity industry.