To amend the Small Business Act to establish a minority graduate mentor program.

Summary

Amends the Small Business Act to direct the Administrator of the Small Business Administration to establish a minority graduate mentor program under which a small business concern that is a graduate of the small business and capital ownership development program (graduate concern) may serve as a mentor to small business concerns that are in the developmental stage of such program (developmental stage concern). Makes a participating graduate concern eligible to receive certain contracts upon agreeing to subcontract between 20 and 49 percent of the value of the contract to one or more developmental stage concerns. Requires program regulations to contain, at a minimum: (1) application requirements; (2) selection criteria; (3) procedures for establishing partnerships between graduate concerns and developmental stage concerns; (4) a description of the types of assistance that a graduate concern will provide to a developmental stage concern; (5) monitoring methods to be used by the Administrator to prevent abuse, including a requirement that all participants submit a financial capability statement at least every two years; and (6) procedures to permit a graduate concern and a developmental stage concern to terminate their partnership upon the completion of a contract.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 May 1994

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• Introduced in House (PDF)

  Introduced in House · EN · 5 May 1994

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• Introduced in House

  summary · EN · 5 May 1994

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