P15-143 SMALL BUSINESS ACT (APPROVED JULY 18, 1958) TEXT OF SMALL BUSINESS ACT PUBLIC LAW 536, 85TH CONG., 2D SESS. AS AMENDED BY PUBLIC LAW 85-699 AND PUBLIC LAW 86-367 SELECT COMMITTEE ON SMALL BUSINESS UNITED STATES SENATE 60995 Printed for the use of the Select Committee on Small Business UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1960 When the S be helpful t FOREWORD he Small Business Act was passed in 1958, the Senate Small Committee published an annotated copy of the act. In the to the 1958 publication, I said of this bill which made SBA ent agency of the Federal Government: gnificance of this legislation, so long sought by members of e Small Business Committee, is that it signalizes the accepthe Congress of small business as a distinct and vital element tional economy. In thus formalizing a philosophic concept n tangible expression by the creation of the Smaller War orporation in the early days of World War II, Congress has e it clear that independent small business enterprises are to ered as one of this Ñation's invaluable resources—as essential rength as our fertile farmlands, timber, mines, and waterway Iments to the act since July 1958 have increased the revolving $325 million and authorized SBA to make grants to State and educational institutions for studies, research, and counselerning the managing, financing, and operation of small busiprises. The Small Business Investment Act of 1958 provided million of the increase in the revolving fund and authorized of this amount for the purposes of that act. In 1959 Public -367 added to the revolving fund authorization $75 million for additional business loans. committee is publishing this print in the belief that it will ful to the thousands of small businesses that come into contact Small Business Administration each year. The print will be when further amendments to the Small Business Act are made. JOHN SPARKMAN, Chairman, Select Committee on Small Business, U.S. Senate. III |