one of the most prominent MESBICs
, and hired Lewis's firm to handle legal work, "He became well-known in the MESBIC
community as the go-to lawyer because of his knowledge of securities law and investments.
The Dallas institution has grown from a single entity to a holding company, MESBIC
Ventures Holding Co.
Simeus wouldn't discuss its specific terms, but as part of the deal, MESBIC
can purchase up to 65% of the stock if the company goes public.
Donald Lawhorne is president of Dallas-based MESBIC Ventures Holding Co.
Earlier this year, according to the Washington Post, congressional audits revealed that throughout the 1980s, David Hale, then head of an SBA-backed finance company called Capital Management Services, loaned more than $70,000 in MESBIC money to nonminority individuals and companies that were politically aligned with then Arkansas Governor Bill Clinton.
Caught up in the bureaucratic reorganization of the MESBIC program, the balance came three years later.
These venture capital firms (formerly called MESBICs, or minority enterprise small business investment companies) enjoy federal interest-rate subsidies and lend venture capital to both new and established small minority firms.
Gilchrist says no politics is involved in who gets assistance in either the CDC program for bidding businesses of the MESBIC
, which helps established small businesses.
Roughly half of all MESBIC investments made last year are with companies a year old or less.
Today, there are more than 360 SBICs, including 130 MESBICs, which specifically provide working and expansion capital to minority-owned businesses.
loan consortia, bank CDCs, MESBICs
, micro-loan pools).
The NAIC, formerly known as the American Association of MESBICs
(minority enterprise small business investment companies), offers a copy of its membership directory of approximately 150 venture capital firms, at a cost of $5.