A bill to amend the Small Business Investment Act of 1958 to encourage private investment in debentures issued by investment companies financing businesses owned by disadvantaged persons.

Summary

Amends the Small Business Investment Act of 1958 to authorize the Small Business Administration (SBA) to make periodic interest reduction payments (subsidies) to the holder of a debenture or to the fiscal agent of a minority enterprise small business investment company (MESBIC) to cover the difference between the amount of interest the company is required to pay on debentures it has issued and the amount of interest it would be required to pay on debentures purchased by the SBA. Provides that amounts authorized to make direct debenture purchases and preferred securities purchases shall also be available to make such interest reduction payments. Allows amounts available for guarantees of MESBIC issued debentures to be used to guarantee debentures issued by certain other licensed companies.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 3 August 1989

  Open at official source

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