[Federal Register Volume 59, Number 177 (Wednesday, September 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22679]
[[Page Unknown]]
[Federal Register: September 14, 1994]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
[License No. 09/09-5338]
Charterway Investment Corporation
Notice is hereby given of the filing of a request by Charterway
Investment Corporation (CIC), a Small Business Investment Company, of
624 South Grand Avenue, Suite 1600, Los Angeles, California 90017 for
an exemption to CFR 13, section 107.903(b) of the Small Business
Investment Companies Regulations, which prohibit a licensee from
directly or indirectly financing an associate.
SBA has requested that CIC divest its interest in New Park Center,
Inc., Baldwin Park Professional Building, Ltd., and Western General
Enterprises, Inc. (the Real Estate), because these investments are
prohibited real estate investments under section 107.901(c). The
exemption requested concerns the sale of the Real Estate to Messrs.
Hiram W. Kwan, Tien H. Chen, Harold Chuang, Philip Chuang, and Edmund
C. Lau, the current shareholders and associates of CIC, to be partially
financed by CIC. CIC has been unsuccessful in its attempts to sell the
Real Estate to unrelated third parties.
The proposed terms of the sale of the Real Estate include: (1) A
sale price of $1.2 million which is at CIC's book value; (2) a 30
percent cash down payment, and (3) a 15-year amortized note at 7
percent, due and fully payable in three years. The Real Estate has been
appraised at $1.069 million as of July 27, 1994 by an independent
appraiser.
Notice is hereby given that any person may, not later than 30 days
from the date of publication of this Notice, submit written comments on
the proposed transaction to the Associate Administrator for Investment,
Small Business Administration, 409 3rd Street, S.W., Washington, D.C.
20416.
A copy of this Notice will be published in a newspaper of general
circulation in Los Angeles, California.
Dated: September 7, 1994.
(Catalog of Federal Domestic Assistance Programs No. 59.011, Small
Business Investment Companies)
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 94-22679 Filed 9-13-94; 8:45 am]
BILLING CODE 8025-01-M
