1. Short title This Act may be cited as the Small Business Credit Availability Act . 2. Expanding access to capital for business development companies (a) In general Section 61(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–60(a) ) is amended— (1) by redesignating paragraphs (2) through (4) as paragraphs (3) through (5), respectively; and (2) by striking paragraph (1) and inserting the following: (1) Except as provided in paragraph (2), the asset coverage requirements of subparagraphs (A) and (B) of section 18(a)(1) (and any related rule promulgated under this Act) applicable to business development companies shall be 200 percent. (2) The asset coverage requirements of subparagraphs (A) and (B) of section 18(a)(1) and of subparagraphs (A) and (B) of section 18(a)(2) (and any related rule promulgated under this Act) applicable to a business development company shall be 150 percent if— (A) not later than 5 business days after the date on which those asset coverage requirements are approved under subparagraph (D) of this paragraph, the business development company discloses that the requirements were approved, and the effective date of the approval, in— (i) any filing submitted to the Commission under section 13(a) or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m(a) ; 78o(d)); and (ii) a notice on the website of the business development company; (B) the business development company discloses, in each periodic filing required under section 13(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m(a) )— (i) the aggregate outstanding principal amount or liquidation preference, as applicable, of the senior securities issued by the business development company and the asset coverage percentage as of the date of the business development company’s most recent financial statements included in that filing; (ii) that the business development company, under subparagraph (D), has approved the asset coverage requirements under this paragraph