[Federal Register Volume 59, Number 64 (Monday, April 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-7964]


[[Page Unknown]]

[Federal Register: April 4, 1994]


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SMALL BUSINESS ADMINISTRATION
[Application No. 99000105]

 

Maine Capital Partners, L.P.; Notice of Filing of an Application 
for a License To Operate as a Small Business Investment Company

    Notice is hereby given of the filing of an application with the 
Small Business Administration (SBA) pursuant to Sec. 107.102 of the 
Regulations governing small business investment companies (13 CFR 
107.102 (1993)) by Maine Capital Partners, L.P., 70 Center Street, 
Portland, Maine 04101 for a license to operate as a small business 
investment company (SBIC) under the Small Business Investment Act of 
1958, as amended, (15 U.S.C. et. seq.), and the Rules and Regulations 
promulgated thereunder. Maine Capital Partners, L.P. is a limited 
partnership formed under Delaware law. Its principal area of operation 
is the State of Maine.
    Maine Capital Partners, L.P. will be managed by North Atlantic 
Capital Corporation, located at 70 Center Street, Portland, Maine 
04101. The following limited partners will own 10 percent or more of 
the proposed SBIC:

------------------------------------------------------------------------
                                                              Percentage
                            Name                                  of    
                                                               ownership
------------------------------------------------------------------------
Fleet Bank of Maine, 511 Congress Street, P.O. Box 1280,                
 Portland, Maine 04104......................................        25.0
Casco Northern Bank, One Monument Square, P.O. Box 678,                 
 Portland, Maine 04104......................................        16.7
Shawmut National Ventures Corp., 777 Main Street MSN 397,               
 Hartford, CT 06115.........................................        16.7
State Street Bank & Trust, 225 Franklin Street, Boston, MA              
 02110......................................................        16.7
------------------------------------------------------------------------

    The applicant will begin operations with a minimum capitalization 
of approximately $6.0 million and will be a source of later stage 
investments, mezzanine financings, and re-capitalizations for qualified 
small business concerns. The applicant will invest primarily in the 
state of Maine, and may make investments in neighboring states.
    Matters involved in SBA's consideration of the application include 
the general business reputation and character of the proposed owners 
and management, and the probability of successful operations of the new 
company under their management, including profitability and financial 
soundness in accordance with the Act and Regulations.
    Notice is hereby given that any person may, not later than 30 days 
from the date of publication of this Notice, submit written comments on 
the proposed SBIC to the Associate Administrator for Investment, Small 
Business Administration, 409 3rd Street, SW., Washington, DC 20416.
    A copy of this Notice will be published in a newspaper of general 
circulation in Portland, Maine.

(Catalog of Federal Domestic Assistance Programs No. 59.011, Small 
Business Investment Companies.)

    Dated: March 25, 1994.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-7964 Filed 4-1-94; 8:45 am]
BILLING CODE 8025-01-M