United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-08-18 monographic deposited born digital GA 1.13:RCED-95-249FS https://www.govinfo.gov/app/details/GAOREPORTS-RCED-95-249FS P0b002ee1803950e9 f:rc95249f DGPO 2010-08-12 2011-03-23 GAOREPORTS-RCED-95-249FS machine generated eng fdlp REPORT GAOREPORTS-RCED-95-249FS RCED-95-249FS Small business assistance Small business investment companies Investments Securities Capital Small business loans Business development loans SBA Specialized Small Business Investment Companies Program SBA Three Percent Preferred Stock Repurchase Program Fact Sheet RCED The Small Business Administration (SBA) formerly provided investment capital to Specialized Small Business Investment Companies (SSBIC) by purchasing their three-percent preferred stock. In 1989, Congress authorized SBA to allow SSBIC to repurchase that stock. Following a pilot program, SBA began allowing SSBIC to buy back their stock at 35 percent of the price paid by SBA. Accrued unpaid dividends were either forgiven or were written off over a five-year period. In May 1995, GAO reported (GAO/RCED-95-146FS) that 17 SSBIC had repurchased their stock under the program. Since then, another four of the current 90 SSBIC have repurchased their stock. This fact sheet provides information on each SSBIC participating in the stock repurchase program, including (1) the repurchase price paid, unpaid dividends forgiven or allowed to be amortized, and the method used to finance the repurchase; (2) the company's private capital, SBA financing, and capital impairment at the time of the stock repurchase; and (3) the company's investments in small businesses during the last five years and the value of the investment portfolio at the time of the company's most recent report to SBA https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-95-249FS/html/GAOREPORTS-RCED-95-249FS.htm GAO/RCED-95-249FS https://www.govinfo.gov/app/details/GAOREPORTS-RCED-95-249FS Fact Sheet GAO/RCED-95-249FS; Small Business: SBA's Preferred Stock Repurchase Program; Small business assistance Small business investment companies Investments Securities Capital Small business loans Business development loans SBA Specialized Small Business Investment Companies Program SBA Three Percent Preferred Stock Repurchase Program