§ 684. Equity capital for small-business concerns

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(a)Function of investment companies It shall be a function of each small business investment company to provide a source of equity capital for incorporated and unincorporated small-business concerns, in such manner and under such terms as the small business investment company may fix in accordance with the regulations of the Administration.

(b)Conditions Before any capital is provided to a small-business concern under this section—

(1)the company may require such concern to refinance any or all of its outstanding indebtedness so that the company is the only holder of any evidence of indebtedness of such concern; and

(2)except as provided in regulations issued by the Administration, such concern shall agree that it will not thereafter incur any indebtedness without first securing the approval of the company and giving the company the first opportunity to finance such indebtedness.

(c)Repealed. Pub. L. 90–104, title II, § 206, Oct. 11, 1967, 81 Stat. 271

(d)Direct or cooperative provision of capital Equity capital provided to incorporated small business concerns under this section may be provided directly or in cooperation with other investors, incorporated or unincorporated, through agreements to participate on an immediate basis.

(Pub. L. 85–699, title III, § 304, Aug. 21, 1958, 72 Stat. 693; Pub. L. 86–502, § 6, June 11, 1960, 74 Stat. 196; Pub. L. 87–341, § 5, Oct. 3, 1961, 75 Stat. 752; Pub. L. 90–104, title II, § 206, Oct. 11, 1967, 81 Stat. 271; Pub. L. 92–595, § 2(e), Oct. 27, 1972, 86 Stat. 1316.)

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statutes-at-large

U.S. Code

§ 1243
Loss of small business investment company

CFR

statute-compilations

Sec. 304
provision of equity capital for small business concerns

bill

Sec. 100401
Increasing equity investment in the SBIC program

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U.S. Code

Organization
§ 681

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Pub. L. 85–699, title III, § 304
72 Stat. 693
Pub. L. 86–502, § 6
74 Stat. 196
Pub. L. 87–341, § 5
75 Stat. 752
Pub. L. 90–104, title II, § 206
81 Stat. 271
Pub. L. 92–595, § 2(e)
86 Stat. 1316
Pub. L. 92–595
Pub. L. 90–104
Pub. L. 87–341
Pub. L. 86–502
section 211 of Pub. L. 90–104

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cites case law

§ 684

Equity capital for small-business concerns

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U.S.C.×1

U.S.C.§ 681

Pub. L.Pub. L. 85–699, title III, § 304

Stat.72 Stat. 693

Pub. L.Pub. L. 86–502, § 6

Stat.74 Stat. 196

Pub. L.Pub. L. 87–341, § 5

Cites 16 · showing 6Cited by 10 across 5 sources