§ 108.520. Management Expenses of a NMVC Company.
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/us/cfr/t13/s§ 108.520·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
SBA must approve your initial Management Expenses and any increases in your Management Expenses.
(a)Definition of Management Expenses. Management Expenses include:
(1)Salaries;
(2)Office expenses;
(3)Travel;
(4)Business development;
(5)Office and equipment rental;
(6)Bookkeeping; and
(7)Expenses related to developing, investigating and monitoring investments.
(b)Management Expenses do not include services provided by specialized outside consultants, outside lawyers and independent public accountants, if they perform services not generally performed by a venture capital company.