; or (B) a non-EEIC company from continuing to receive an exclusion in the calculation of outstanding leverage by the Administrator, as described in section 303(b)(2)(F), for covered investments described in clause (iii) of such section made to a covered small business before the sunset date. (4) Application The Administrator shall not consider paragraph (2) as a factor in the decision to license an entity to participate in the facility as an employee equity investment company (including as a Protege EEIC) or to select an entity to participate in the facility as a non-EEIC company before the sunset date. . (c) Employee equity investment company procedures Title III of the Small Business Investment Act of 1958 ( 15 U.S.C. 681 et seq. ) is amended— (1) in section 301(c) ( 15 U.S.C. 681(c) ), by striking paragraph (3) and inserting the following: (3) Matters considered (A) In general In reviewing and processing any application under this subsection, the Administrator— (i) shall determine whether— (I) the applicant meets the requirements of subsections (a) and (c) of section 302; and (II) the management of the applicant is qualified and has the knowledge, experience, and capability necessary to comply with this Act; (ii) shall take into consideration— (I) the need for and availability of financing for small business concerns in the geographic area in which the applicant is to commence business; (II) the general business reputation of the owners and management of the applicant; and (III) the probability of successful operations of the applicant, including adequate profitability and financial soundness; (iii) shall not take into consideration any projected shortage or unavailability of leverage