SBIC Specialist and Former SBA Counsel Joins Foley Hoag

March 25, 2010

Michael K. Wyatt, a noted Small Business Investment Company (SBIC) lawyer and former General Counsel of the U.S. Small Business Administration (SBA) joined Foley Hoag LLP as a partner in its Washington office this week.  Immediately prior to joining Foley Hoag, Mr. Wyatt was a partner at Hogan & Hartson.

Mr. Wyatt has represented over 200 SBICs licensed to provide capital to small businesses as well as other clients involved in SBA programs.  He advises SBICs in a variety of structuring, fund formation, licensure, regulatory, operational, taxation, transactional, restricted operations, liquidation, Receivership and other matters affecting SBICs and their portfolio companies.  Mr. Wyatt’s practice extends to small business lending companies (SBLCs), Section 8(a) subcontractors, private finance companies, banks, and others involved in small business matters.  Mr. Wyatt also has expertise in the opportunities available as a result of The American Recovery and Reinvestment Act of 2009.

Earlier in his career, Mr. Wyatt served as General Counsel to the SBA, actively managing over 300 lawyers and staff, representing the Agency on all matters of operations and policy and handling over 6,000 active litigation matters.  In this role he was also responsible for clearing all Agency regulations, policy statements, proposed legislation and official correspondence.  During his tenure Mr. Wyatt was a frequent speaker at White House events sponsored by the SBA and the White House Office of Public Liaison.  Immediately prior to his role at the SBA, Mr. Wyatt was the Associate Deputy Secretary at the U.S. Department of Labor.

“Mike has spent his career building a true specialty serving the needs of SBICs and SBLCs.  His government experience allows him to navigate the complexities involved in serving these entities, and he is widely regarded as one of the country’s foremost experts in SBA matters,”  said William R. Kolb, Co-Managing Partner of the firm and a member of the business department.  “His experience complements our own longstanding SBIC practice and our deep roots in serving the venture capital community.  We are fortunate to have him join our team.”

Foley Hoag has represented SBICs for three decades. Lawyers in the practice were actively involved in the development of the Participating Securities leverage program.  The firm offers clients a full range of services in both the Participating Securities leverage program and the Debenture leverage program and helps clients with fund formation, licensing, management organization, SBA buy-outs, and portfolio investment regulatory issues.

Mr. Wyatt held other private practice positions at Semmes, Bowen & Semmes and at Proskauer Rose.  He also served in-house as Counsel for Federal Litigation and Ethics at Unisys Corporation.  Mr. Wyatt was a law clerk for the Honorable Charles B. Renfrew, U.S. District Judge, Northern District of California and the Ninth Circuit.  He received his J.D. from Harvard Law School, and a Master’s Degree in Politics, Philosophy and Economics from Oxford University.  His undergraduate degrees include an A.B. cum laude from Princeton University and a B.A. from Oxford University.  Mr. Wyatt is a frequent lecturer and adjunct professor, and writes on SBIC matters.

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