Legislative proposals 10, 11, 60, 61, 219–223, 255–259, 298, 299 Correspondence between SBA and, re sale of additional stock_- 235, 236 Licensed by SBA May 1, 1959- 237 234 239, 240 234 Secretary and 50-percent owner- Licensed by SBA June 12, 1961-- Losses indicated on financial statements after change of control, SBA actions re---- Loss to Government, estimated__ New owners, SBA investigation of______ Securities earmarked for SBA, demand for assignment of---- 236, 237 President and 50-percent owner- 224 217 216, 218 215 215 215 107, 108 215, 224 216 215 214 108, 109 Overline loans-- SBA actions re-- Owners of__ Private capitalization. Rockville, Md., corporation__ 217, 223, 224 224 215 215 214 SBA examination of August 20 to November 19, 1965_. Payment of salaries to officers of, violation of agreement with 159 Private capital in---- 228 Request for additional Government funds denied by SBA‒‒‒‒‒‒‒ 80, 83, 84, 85, 86, 87, 90, 92, 95, 96, 97, 98, 104, 105, 107, 215, 216, 285 Declines to testify. 105 Frontiers Capital Corp., secretary and 50-percent owner_. 215 SBA investigation of 216 Levine, Mr. 273 Lord, Grogan_. Answers to questions submitted to, by subcommittee staff_. National Association of Small Business Investment Cos., president of Questions submitted to, by subcommittee staff. Statement Lunar Enterprises--- Page 279, 292, 293, 299, 301 300, 301 292, 293 299, 300 293-298 87, 103, 285 Merchandise National Bank of Chicago___ Refusal to testify. Martin, Frank__ Martin, William McChesney. Medico, Frank___. Cascade Capital Corp.: Capital impairment. SBA estimate of loss__. General Accounting Office, Civil Accounting and Auditing Division, Assistant Director of.... New Horizons Capital Corp.: Capital impairment_ Placed in receivership_. SBA estimate of loss_. Techno Fund, Inc.: Capital impairment_ SBA estimate of loss. Megadyne Electronics, Inc__. Metropolitan Bank of Miami_. Michigan City Land Development Co. Midlothian State Bank__. Midwest Capital Corp--‒‒‒ Mineola Bank & Trust Co.. Mintz, Charles__ Morris, John B. Mueller, Harris C____ 101, 102 93 79, 81 55, 64, 69, 70, 71 68, 69 69, 70 70 71 128, 129, 167-172, 185, 193, 290 85 94 203, 204 196 52 146 Mueller, Elizabeth S--- 125-127, 164-167 201, 211 201, 202, 211 201, 202, 204, 291 199-202, 291 284 Neuwirth, Max.. American Business Capital Corp.: Financially impaired--- Government funds held by--- Georgia Capital Corp.: 126, 127, 172, 182, 184 Sale of profitable stock held by, to individual stockholders---- 64, 65, 67 Capital impairment. SBA actions concerning-. 68 Neuwirth, Max-Continued Six cases selected for study by GAO representative of capitally im- Page paired SBIC's... New Horizons Capital Corp---- Capital impairment--- Receivership, placed in.. 73 62, 69, 70, 72 69 70 Chatham Bank of Chicago involvement with Rust, Lawrence, original owner, responsible businessman. 235 233 235 198, 210 235 209, 210 Request for additional Government funds denied by SBA___. Small Business Administration: 229, 230 230 229 212, 213 222 222, 230 130, 131, 186, 188, 193, 290 9 Director of the office of eastern area SBIC operations_. Pitt, Inc____. Program evaluation report 684__. Putnam Investors, Inc‒‒‒‒‒ 111-131, 133–159, 161–162, 164-174, 177–184, 186–190, Amendment to plan of operation, March 3, 1964. County National Bank of Mineola, N.Y., loan to officers-- Funds used for personal purposes--- 121–124, 144-146, 153, 162, 179, 289 Pledged stock of, for personal loans_. Salaries received___ 192, 193 Salaries to, approved by SBA, April 24, 1964. 158 SBA, contacts with__ SBA examinations of SBA investigation of Salaries to, violation of agreement with SBA. Stock transfers between__. Pitt, Inc., loans--- Proposal to operate as an SBIC_. 124-131, 164-172, 180, 188, 290 113, 114 130, 131, 188, 193, 290 178 111, 112, 231 Select Committee on Small Business, House of Representatives___ 6, 61, 255, 297 61, 64, 65, 71 6, 108, 215, 216, 285, 293 12-14, 18, 19, 22-32, 34-37, 39-40, 42, 44, 48–73, 75–79, 81, 83, 97, Coordination of compliance and lending activities within, inadequate 252 18, 19 Cross index of individuals associated with SBIC's establishment of 232, 233 11 222 Examination manual improved---- 254 Examinations and investigations now responsibility of Assistant Ad- 226 Small Business Administration-Continued * Examinations of SBIC's: Frequency of.. Number Examiners Failure to assist SBIC's in financial trouble___. False filings and breach of loan agreements declared violations___ Financial statements from SBIC's.. Financing of----- Investigation of an SBIC defined__‒‒‒ Investigations of SBIC's rarely conducted__-- Page 75 213 159, 160, 233, 234 222 74 15, 1965_____ Regular loan programs, new system of handling-- Regulations and policies of a compliance nature since January Reporting and accounting procedures need improvement_ Sale of loans and debentures of SBIC's to institutional investors___ 276-278 30, 31 213, 214 254, 256 234 Examinations and investigations conducted, by fiscal year__ Examination and investigation deficiencies--- Fees_ Fidelity bonds___ Financial requirements___ Financial statements required by SBA___ GAO review of : Background.... Financial records inadequate_. Lending criteria__. Loss estimates unreliable.. 39, 40, 274 281 50 27, 28, 32, 43, 44 15, 74, 252-256 281 9, 18 21, 53 50-52 25, 250, 253, 255, 269, 271 233, 234 55 56 57, 58 57, 71 |