chapter  1
6 Pages

Introduction: The Nature of Capitalist-Democratic Culture

The Small Business Act of 1953 created the Small Business Administration (SBA). The functions of this Administration were to make loans to small businesses, to assist them in receiving a 'fair share' of government contracts, and to instruct and advise them in ways and means to organize and conduct their businesses in the most advantageous way. The SBA derives its authority, in addition to the act that created it, from the Small Business Investment Act of 1958 and the Economic Opportunity Act of 1964. The Department of Housing and Urban Development has delegated certain responsibilities and functions to the SBA. The Small Business Investment Act of 1958 empowered the SBA to establish a new kind of investment company 'to provide seed capital to small business', namely the Small Business Investment Company (SBIC).