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Government Operations: [SBA Leveraging Policy]

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Report Type Reports and Testimonies
Report Date Sept. 18, 1980
Report No. B-197439
Subject
Summary:

Clarification was given regarding a recent GAO decision which held that, absent of a specific statutory provision to the contrary, the Small Business Administration (SBA) lacks authority to leverage against Federal funds invested in minority-enterprise small-business investment companies. The statute, generally applicable to leveraging investments in minority-enterprise small-business investment companies, limits the leverage to investments made by private, non-Federal sources. GAO did not address implementation of its decision, as that was initially a matter for the agency to determine, and GAO had no precise information about leveraging commitments to individual minority-enterprise small-business investment companies.

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