Title 15, Commerce and TradeRelease 119-102

§689a Purposes

Title 15 › CHAPTER 14B — SMALL BUSINESS INVESTMENT PROGRAM › SUBCHAPTER III — INVESTMENT DIVISION PROGRAMS › Part B — New Markets Venture Capital Program › § 689a

Last updated Aug 21, 2026|Official source

Summary

Create a New Markets Venture Capital Program to grow local economies, build wealth, and make jobs in low-income areas by supporting venture capital investments in small businesses located there. The program must be run by the Administrator to fill unmet equity needs of those businesses by making participation agreements with New Markets Venture Capital companies, guaranteeing their debentures so they can invest, and giving grants for operational help to small firms they finance or will finance.

Full Legal Text

Title 15, §689a

Commerce and Trade, Source: USLM XML via OLRC

The purposes of the New Markets Venture Capital Program established under this part are—

(1)to promote economic development and the creation of wealth and job opportunities in low-income geographic areas and among individuals living in such areas by encouraging developmental venture capital investments in smaller enterprises primarily located in such areas; and

(2)to establish a developmental venture capital program, with the mission of addressing the unmet equity investment needs of small enterprises located in low-income geographic areas, to be administered by the Administrator—

(A)to enter into participation agreements with New Markets Venture Capital companies;

(B)to guarantee debentures of New Markets Venture Capital companies to enable each such company to make developmental venture capital investments in smaller enterprises in low-income geographic areas; and

(C)to make grants to New Markets Venture Capital companies, and to other entities, for the purpose of providing operational assistance to smaller enterprises financed, or expected to be financed, by such companies.

Reference

Citations & Metadata

Citation

15 U.S.C. § 689a

Title 15, Commerce and Trade

Last Updated

Aug 21, 2026

Release point: 119-102