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###### Small Business Administration

# AGENCY:

U.S. Small Business Administration (SBA). 

# ACTION:

Notice.

# SUMMARY:

                        This Notice provides a minimum dollar amount of $100,000 for draws against SBA leverage commitments to New Markets Venture Capital Companies under the New Markets Venture Capital Program. This Notice will be effective until superceded by another                         **Federal Register**                         Notice.                    

# DATES:

This notice is effective December 18, 2001.

# ADDRESSES:

Austin J. Belton, Director, Office of New Markets Venture Capital, Investment Division, U.S. Small Business Administration, 409 Third Street, SW, 6th Floor, Washington, DC 20416.

# FOR FURTHER INFORMATION CONTACT:

Peter C. Gibbs, Deputy Director, Office of New Markets Venture Capital, telephone: (202) 205-7574, or at the e-mail address, peter.gibbs@sba.gov.

# SUPPLEMENTARY INFORMATION:

SBA's New Markets Venture Capital (NMVC) Program (Program) is authorized by the NMVC Program Act of 2000, 15 U.S.C. 689-689q. Information about the Program is available at http://www.sba/​gov/​INV. The implementing regulations for this Program were issued on May 23, 2001 (66 FR 28602).

Under these rules, SBA has the authority and discretion to determine a minimum dollar amount for draws against SBA's Leverage commitments. 13 CFR 108.1230(b). Leverage means financial assistance provided to a NMVC Company by SBA through the guaranty of a NMVC Company's Debentures, and any other SBA financial assistance evidenced by a security of the NMVC Company.

                    Pursuant to 13 CFR 108.1230(b), the amount of a draw that a NMVC Company may take against SBA's leverage commitment must be a multiple of $5,000. Any minimum dollar amount for draws determined in SBA's discretion are published in Notices in the                     **Federal Register**                     from time to time. This is the first Notice SBA has issued establishing a minimum dollar amount for draws. Under the authority set forth in this Notice, effective the date of publication of this Notice, and until further notice, the minimum dollar amount of a draw is $100,000. (For example, for each draw, a NMVC Company may request a draw in the amount of $100,000 or $105,000 or $110,000, and so on up to the total amount of Leverage committed to but not yet drawn by that NMVC Company.)                

Program Authority: 15 U.S.C. §§ 689-689q.

Dated: December 11, 2001.

Harry Haskins,

Acting Associate Administrator for Investment.

[FR Doc. 01-31100 Filed 12-17-01; 8:45 am]

BILLING CODE 8025-01-U