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The departing 108th Congress has left dozens of venture capital firms scrambling for financing. Lawmakers authorized $4.2 billion for the Small Business Investment Company program, which the Small Business Administration operates. However, the SBA cannot tap the funds since the SBIC is supposed to be self-sustaining, meaning the SBA must offset its expected losses from new investments before it can invest the funding in SBIC participants.
December 02, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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