U.S. Code > Title 15 Commerce and Trade > CHAPTER 14B—SMALL BUSINESS INVESTMENT PROGRAM (§§ 661—697g) > SUBCHAPTER III—INVESTMENT DIVISION PROGRAMS (§§ 681—690q) > Part B—New Markets Venture Capital Program (§§ 689—689q) > § 689d. Debentures

§ 689d. Debentures

(a) In general
The Administrator may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any New Markets Venture Capital company.
(b) Terms and conditions
The Administrator may make guarantees under this section on such terms and conditions as it deems appropriate, except that the term of any debenture guaranteed under this section shall not exceed 15 years.
(c) Full faith and credit of the United States
The full faith and credit of the United States is pledged to pay all amounts that may be required to be paid under any guarantee under this part.
(d) Maximum guarantee
(1) In general
Under this section, the Administrator may guarantee the debentures issued by a New Markets Venture Capital company only to be [1] extent that the total face amount of outstanding guaranteed debentures of such company does not exceed 150 percent of the private capital of the company, as determined by the Administrator.
(2) Treatment of certain Federal funds
For the purposes of paragraph (1), private capital shall include capital that is considered to be Federal funds, if such capital is contributed by an investor other than an agency or department of the Federal Government.

[1] So in original. Probably should be “the”.