[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR108.10]

[Page 104-105]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
                CHAPTER I--SMALL BUSINESS ADMINISTRATION
 
PART 108_NEW MARKETS VENTURE CAPITAL (``NMVC'') PROGRAM--Table of Contents
 
                   Subpart A_Introduction to Part 108
 
Sec.  108.10  Description of the New Markets Venture Capital Program.


    The New Markets Venture Capital (``NMVC'') Program is a 
developmental venture capital program for the purpose of promoting 
economic development and the creation of wealth and

[[Page 105]]

job opportunities in low-income geographic areas and among individuals 
living in such areas. SBA selects and then enters into participation 
agreements with selected newly formed venture capital companies, and 
provides leverage in the form of debenture guarantees to such companies 
to allow them to make equity capital investments in smaller enterprises 
located in low-income geographic areas. SBA also awards grants to such 
companies and to Specialized Small Business Investment Companies so that 
they can provide operational assistance to such smaller enterprises in 
connection with such investments.