HR 5687 · 98th Congress · Commerce

Corporation for Small Business Investment Charter Act

Introduced 1984-05-21· Sponsored by Rep. Mitchell, Parren J. [D-MD-7]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.(1984-05-31)

Plain Language Summary

[AI summary unavailable — showing source text] Corporation for Small Business Investment Charter Act - Amends the Small Business Investment Act of 1958 to provide that references to small business investment companies operating under the Act shall be deemed to refer to small business investment companies operating under the provisions of this Act. Includes in the term "small business investment company" any organization which is qualified to conduct business with the Corporation for Small Business Investment. Requires small business investment companies to provide a source of equity capital for incorporated and unincorporated small businesses under such terms as the small business investment company may fix in accordance with the rules of the Corporation. (Currently, such capital is provided by small business investment companies in accordance with the regulations of the Small Business Administration.) Provides that small business investment companies may provide to small businesses: (1) equity investments and loans on a participation or guaranteed basis; and (2) consulting and advisory services on a fee basis. Establishes the Corporation for Small Business Investment. Authorizes the Corporation to: (1) make loans to small busi…

Summarized by Claude AI · Non-partisan · For informational purposes only