SMALL BUSINESS
From Times Staff and Wire Reports
SBA Announces Changes in Venture Capital Program: The Small Business Administration will make as much as $9 billion in investment funds available over the next three years. The changes are designed to remove structural problems in its Small Business Investment Co. program. SBICs are privately owned and managed firms that use their own capital and funds secured through SBA guarantees to make investments in small businesses. SBICs have invested almost $10 billion of public and private venture capital in more than 70,000 small businesses. The changes result from the Small Business Equity Enhancement Act, which Congress passed in 1992.
