A bill to amend the Small Business Act to assist in the financing of small business concerns which are disadvantaged because of certain social or economic considerations not generally applicable to other business enterprises.

Summary

Provides that whenever the Small Business Administration determines that action is necessary or desirable to assist small business concerns whose participation in the free enterprise system is hampered because of social or economic considerations not generally applicable to other business enterprises to obtain the equity capital needed for viable and prudently managed business operations, it may guarantee equity investments in such concerns made by investment companies or other qualified investors. States that such guarantee shall be made pursuant to an agreement by the Administration to purchase equity securities evidencing the interest of an investor in such a concern in accordance with terms and conditions prescribed by the Administration subject to specified limitations and restrictions. States that a guarantee agreement entered into under this Act by the Administration shall obligate the Administration to purchase securities covered by the agreement and held by an investor. Provides that the Administration shall fix a uniform fee which it deems reasonable and necessary for any guarantee issued under this Act to be payable at such time and under such conditions as may be determined by the Administration.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 29 March 1973

  Open at official source

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