Small Business Administration: Status of Small Business Investment
Companies (Testimony, 03/28/95, GAO/T-RCED-95-145).

Licensed and regulated by the Small Business Administration (SBA), the
Small Business Investment Company and the Specialized Small Business
Investment Company are privately owned and managed firms that fund small
businesses through stock purchases and loans for starting, modernizing,
and expanding operations.  Over the years, GAO has reported on problems
with SBA oversight of the Specialized Small Business Investment Company
program, such as inadequate documentation of eligibility and prohibitive
financial transactions of the program's requirements.  This testimony
focuses on SBA's oversight, examination, licensing, and liquidation.
GAO also discusses implementation of the Three Percent Preferred Stock
Repurchase program.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  T-RCED-95-145
     TITLE:  Small Business Administration: Status of Small Business 
             Investment Companies
      DATE:  03/28/95
   SUBJECT:  Small business investment companies
             Small business assistance
             Licenses
             Small business loans
             Business development loans
             Federal aid programs
             Securities
             Capital
             Ethical conduct
IDENTIFIER:  SBA Specialized Small Business Investment Companies Program
             SBA Small Business Investment Companies Program
             SBA Three Percent Preferred Stock Repurchase Program
             
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