Small Business: SBA's Preferred Stock Repurchase Program

Pursuant to a congressional request, GAO provided information on individual specialized small business investment companies (SSBIC) participating in the Small Business Administration's (SBA) preferred stock repurchase program as of May 31, 1995, focusing on the: (1) repurchase price paid, unpaid dividends forgiven or amortized, and the method used to finance the repurchase; (2) company's private capital, SBA financing, and capital impairment at the time of the stock repurchase; and (3) company's investments in small businesses over the last 5 years and the value of the investment portfolio at the time of the company's most recent report to SBA.