Małe firmy · 12.11.2002

New Markets Venture Capital Program

The U.S. Small Business Administration ("SBA") makes several amendments to the regulations for the New Markets Venture Capital ("NMVC") program. The majority of the amendments make technical changes to the regulations, to correct typographical errors or to clarify language. SBA also makes five substantive amendments to the regulations, which SBA believes will result in more efficient and effective delivery of NMVC program benefits to the targeted geographic areas. Generally, the five changes will: Allow a New Markets Venture Capital company ("NMVC company") to include in its regulatory capital SBA-approved organizational and management expenses paid on behalf of the NMVC company before the company is finally approved; Allow SBA, in selecting recipients for NMVC program assistance, to compare grant applications from specialized small business investment companies ("SSBICs") with NMVC company applications from the same or proximate low-income geographic areas ("LI areas"); Create rules governing fees an NMVC company or its associates may charge for management services provided to small businesses in which the NMVC company invests; Revise the grant application process for SSBICs so as