13 CFR Part 108
PART 108—NEW MARKETS VENTURE CAPITAL (“NMVC”) PROGRAM
- PART 108—NEW MARKETS VENTURE CAPITAL (“NMVC”) PROGRAM
- Chapter I—Small Business Administration
- Subpart A—Introduction to Part 108
- § 108.10 Description of the New Markets Venture Capital Program.
- § 108.20 Legal basis and applicability of this part 108.
- § 108.30 Amendments to Act and regulations.
- § 108.40 How to read this part 108.
- Subpart B—Definition of Terms Used in This Part 108
- § 108.50 Definition of terms.
- Subpart C—Qualifications for the NMVC Program
- Organizing a NMVC Company
- § 108.100 Business form.
- § 108.110 Qualified management.
- § 108.120 Economic development primary mission.
- § 108.130 Identified Low Income Geographic Areas.
- § 108.140 SBA approval of initial Management Expenses.
- § 108.150 Management and ownership diversity requirement.
- § 108.160 Special rules for NMVC Companies formed as limited partnerships.
- Capitalizing a NMVC Company
- § 108.200 Adequate capital for NMVC Companies.
- § 108.210 Minimum capital requirements for NMVC Companies.
- § 108.230 Private Capital for NMVC Companies.
- Subpart D—Application and Approval Process for NMVC Company Designation
- § 108.300 When and how to apply for designation as a NMVC Company.
- § 108.310 Contents of application.
- § 108.320 Contents of comprehensive business plan.
- § 108.330 Grant issuance fee.
- Subpart E—Evaluation and Selection of NMVC Companies
- § 108.340 Evaluation and selection—general.
- § 108.350 Eligibility and completeness.
- § 108.360 Evaluation criteria.
- § 108.370 Conditional approval.
- § 108.380 Final approval as a NMVC Company.
- Subpart F—Changes in Ownership, Structure, or Control
- Changes in Control or Ownership of NMVC Company
- § 108.400 Changes in ownership of 10 percent or more of NMVC Company but no change of Control.
- § 108.410 Changes in Control of NMVC Company (through change in ownership or otherwise).
- § 108.420 Prohibition on exercise of ownership or Control rights in NMVC Company before SBA approval.
- § 108.430 Notification to SBA of transactions that may change ownership or Control.
- § 108.440 Standards governing prior SBA approval for a proposed transfer of Control.
- § 108.450 Notification to SBA of pledge of NMVC Company's shares.
- Restrictions on Common Control or Ownership of Two or More NMVC Companies
- § 108.460 Restrictions on Common Control or ownership of two (or more) NMVC Companies.
- Change in Structure of NMVC Company
- § 108.470 SBA approval of merger, consolidation, or reorganization of NMVC Company.
- Subpart G—Managing the Operations of a NMVC Company
- General Requirements
- § 108.500 Lawful operations under the Act.
- § 108.502 Representations to the public.
- § 108.503 NMVC Company's adoption of an approved valuation policy.
- § 108.504 Equipment and office requirements.
- § 108.506 Safeguarding the NMVC Company's assets/Internal controls.
- § 108.507 Violations based on false filings and nonperformance of agreements with SBA.
- § 108.509 Employment of SBA officials.
- Management and Compensation
- § 108.510 SBA approval of NMVC Company's Investment Adviser/Manager.
- § 108.520 Management Expenses of a NMVC Company.
- Cash Management by a NMVC Company
- § 108.530 Restrictions on investments of idle funds by NMVC Companies.
- Borrowing by NMVC Companies From Non-SBA Sources
- § 108.550 Prior approval of secured third-party debt of NMVC companies.
- Voluntary Decrease in Regulatory Capital
- § 108.585 Voluntary decrease in NMVC Company's Regulatory Capital.
- Subpart H—Recordkeeping, Reporting, and Examination Requirements for NMVC Companies
- Recordkeeping Requirements for NMVC Companies
- § 108.600 General requirement for NMVC Company to maintain and preserve records.
- § 108.610 Required certifications for Loans and Investments.
- § 108.620 Requirements to obtain information from Portfolio Concerns.
- Reporting Requirements for NMVC Companies
- § 108.630 Requirement for NMVC companies to file financial statements and supplementary information with SBA (SBA Form 468).
- § 108.640 Requirement to file portfolio financing reports (SBA Form 1031).
- § 108.650 Requirement to report portfolio valuations to SBA.
- § 108.660 Other items required to be filed by NMVC Company with SBA.
- § 108.680 Reporting changes in NMVC Company not subject to prior SBA approval.
- Examinations of NMVC Companies by SBA for Regulatory Compliance
- § 108.690 Examinations.
- § 108.691 Responsibilities of NMVC Company during examination.
- § 108.692 Examination fees.
- Subpart I—Financing of Small Businesses by NMVC Companies
- Determining the Eligibility of a Small Business for NMVC Financing
- § 108.700 Compliance with size standards in part 121 of this chapter as a condition of Assistance.
- § 108.710 Requirement to finance Low-Income Enterprises.
- § 108.720 Small Businesses that may be ineligible for financing.
- § 108.730 Financings which constitute conflicts of interest.
- § 108.740 Portfolio diversification (“overline” limitation).
- § 108.760 How a change in size or activity of a Portfolio Concern affects the NMVC Company and the Portfolio Concern.
- Structuring NMVC Company's Financing of Eligible Small Businesses
- § 108.800 Financings in the form of equity interests.
- § 108.820 Financings in the form of guarantees.
- § 108.825 Purchasing securities from an underwriter or other third party.
- Limitations on Disposition of Assets
- § 108.885 Disposition of assets to NMVC Company's Associates.
- Management Services and Fees
- § 108.900 Fees for management services provided to a Small Business by a NMVC Company or its Associate.
- Subpart J—SBA Financial Assistance for NMVC Companies (Leverage)
- General Information About Obtaining Leverage
- § 108.1100 Type of Leverage and application procedures.
- § 108.1120 General eligibility requirement for Leverage.
- § 108.1130 Leverage fees payable by NMVC Company.
- § 108.1140 NMVC Company's acceptance of SBA remedies under § 108.1810.
- Maximum Amount of Leverage for Which a NMVC Company Is Eligible
- § 108.1150 Maximum amount of Leverage for a NMVC Company.
- Conditional Commitments by SBA To Reserve Leverage for a NMVC Company
- § 108.1200 SBA's Leverage commitment to a NMVC Company—application procedure, amount, and term.
- § 108.1220 Requirement for NMVC Company to file financial statements at the time of request for a draw.
- § 108.1230 Draw-downs by NMVC Company under SBA's Leverage commitment.
- § 108.1240 Funding of NMVC Company's draw request through sale to third-party.
- Funding Leverage by use of SBA Guaranteed Trust Certificates (“TCs”)
- § 108.1600 SBA authority to issue and guarantee Trust Certificates.
- § 108.1610 Effect of prepayment or early redemption of Leverage on a Trust Certificate.
- § 108.1620 Functions of agents, including Central Registration Agent, Selling Agent and Fiscal Agent.
- § 108.1630 SBA regulation of Brokers and Dealers and disclosure to purchasers of Leverage or Trust Certificates.
- § 108.1640 SBA access to records of the CRA, Brokers, Dealers and Pool or Trust assemblers.
- Miscellaneous
- § 108.1700 Transfer by SBA of its interest in a NMVC Company's Leverage security.
- § 108.1710 SBA authority to collect or compromise its claims.
- § 108.1720 Characteristics of SBA's guarantee.
- Subpart K—NMVC Company's Noncompliance With Terms of Leverage
- § 108.1810 Events of default and SBA's remedies for NMVC Company's noncompliance with terms of Debentures.
- Computation of NMVC Company's Capital Impairment
- § 108.1830 NMVC Company's Capital Impairment definition and general requirements.
- § 108.1840 Computation of NMVC Company's Capital Impairment Percentage.
- Subpart L—Ending Operations as a NMVC Company
- § 108.1900 Termination of participation as a NMVC Company.
- Subpart M—Miscellaneous
- § 108.1910 Non-waiver of SBA's rights or terms of Leverage security.
- § 108.1920 NMVC Company's application for exemption from a regulation in this part 108.
- § 108.1930 Effect of changes in this part 108 on transactions previously consummated.
- § 108.1940 Procedures for designation of additional Low-Income Geographic Areas
- Subpart N—Requirements and Procedures for Operational Assistance Grants to NMVC Companies and SSBICs
- § 108.2000 Operational Assistance Grants to NMVC Companies and SSBICs.
- § 108.2001 When and how SSBICs may apply for Operational Assistance grants.
- § 108.2002 Eligibility of SSBICs to apply for Operational Assistance grants.
- § 108.2003 Grant issuance fee for SSBICs.
- § 108.2004 Contents of application submitted by SSBICs.
- § 108.2005 Contents of plan submitted by SSBICs.
- § 108.2006 Evaluation and selection of SSBICs.
- § 108.2007 Grant award to SSBICs.
- § 108.2010 Restrictions on use of Operational Assistance grant funds.
- § 108.2020 Amount of Operational Assistance grant.
- § 108.2030 Matching requirements.
- § 108.2040 Reporting and recordkeeping requirements.
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