Credit Needs of Small Business: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Eighty-fifth Congress, First Session [-second Session], on Various Bills to Amend the Small Business Act of 1953, as Amended, Part 1

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U.S. Government Printing Office, 1957 - 714 pages
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Considers legislation to establish SBA as a permanent agency; to provide for formation of private and Federal Reserve System national investment companies to aid small businesses; to authorize SBA loans to nonprofit organizations; to assist state small business programs; and to authorize S.

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Page 38 - Such notes or other obligations shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding marketable obligations of the United States of comparable maturities as of the last day of the month preceding the issuance of such notes or other obligations.
Page 20 - Whoever makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or for any applicant any loan, or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release, or substitution of security therefor, or for the purpose of influencing in any way the action of the...
Page 351 - ... of such sound value or so secured as reasonably to assure retirement or repayment...
Page 14 - Act, as amended, is amended — (1) by striking out the period at the end of "paragraph (5)" and inserting in lieu thereof " ; and" ; and (2) by adding after paragraph (5) a new paragraph as follows: "(6) to make such loans (either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis) as the Administration may determine to be necessary or appropriate to assist any small business concern...
Page 35 - Whenever in the judgment of the Commission any person has engaged or is about to engage in any acts or practices which constitute or will constitute a violation of any provision of this Act, or any regulation or order issued thereunder, it may make application to the appropriate court for an order enjoining such acts or practices, or for an~ order enforcing compliance with such provision...
Page 74 - The essence of the American economic system of private enterprise is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal Initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation.
Page 29 - Corporation or any other body politic or corporate, or any individual, or to deceive any officer, auditor, or examiner...
Page 35 - ... capital for any day of any taxable year shall be determined as of the beginning of such day and shall be the sum of the following : "(1) The amount of the outstanding indebtedness (not including interest) of the taxpayer, incurred in good faith for the purposes of the business...
Page 38 - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations of the Administrator to be issued hereunder and for such purpose the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act as amended, are extended to include any purchase of such notes and obligations.
Page 9 - Sue and be sued in any court of record of a State having general Jurisdiction, or in any United States district court, and Jurisdiction is conferred upon such district court to determine such controversies without regard to the amount in controversy; but no attachment, injunction, garnishment, or other similar process, mesne or final, shall be issued against the Administrator or his property...

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