[Comments on SBA Ruling Concerning Minority Enterprise Small Business Investment Companies]

B-228857: Published: Feb 22, 1988. Publicly Released: Mar 31, 1988.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO commented on the legality of the Small Business Administration's (SBA) ruling not to allow minority enterprise small business investment companies (MESBIC) to prepay high-interest rate SBA-held debentures in order to refinance them with new debentures which SBA would agree to purchase at current lower interest rates. GAO noted that SBA had no authority to agree to either the proposed refinancing or an alternative proposal under which MESBIC would pay a prepayment penalty to SBA to obtain a reduction in the debentures' interest rate.

Nov 16, 2015

Oct 28, 2015

Sep 8, 2015

Jul 27, 2015

Jul 8, 2015

Jun 25, 2015

May 19, 2015

Apr 15, 2015

Feb 12, 2015

Dec 11, 2014

Looking for more? Browse all our products here