; or (B) in the case of a micro-SBIC owned by persons who also own a small business investment company licensed under section 301, $50,000,000. 399B. Micro-SBIC Program requirements (a) Surrender of license A micro-SBIC that voluntarily surrenders a license issued under this section shall enter into an agreement with Administrator for the repayment of leverage received. Such agreement may not require the micro-SBIC to immediately repay all leverage received. (b) Administration To the extent practicable, for a micro-SBIC that elects to receive leverage under section 399A(b)(3), the Administrator shall administer the Micro-SBIC Program in a similar manner to the program under section 301. 399C. Seed Investment Program (a) Establishment The Administrator shall establish and carry out an equity investment program (in this part referred to as the Seed Investment Program ) to provide seed investments to a micro-SBIC to invest in small business concerns. (b) Application A micro-SBIC that elects to receive a seed investment under section 399A(b)(3) shall submit to the Administrator an application that includes the following: (1) A business plan describing how the applicant intends to make successful investments in early-stage small businesses, growth-stage small businesses, scale-up small businesses, or covered small businesses, as applicable. (2) A description of the extent to which the applicant meets the selection criteria under subsection (c). (c) Selection (1) In general Not later than 90 days after the date of receipt of an application under subsection (b), the Administrator shall make a final determination to approve or disapprove the applicant as a participant in the Seed Investment Program and shall submit such determination to the applicant in writing. (2) Criteria In making a determination under paragraph (1), the Administrator shall consider each of the following criteria: (A) The likelihood that the applicant will meet the goals specified in the business plan of the applicant. (B) The likelihood that the