Firm Alleges SBA is Guilty of Racial Discrimination

April 4, 2010  |  

( —Diamond Ventures, a venture capital firm, is suing the Small Business Administration (SBA) for racial discrimination. The $50 million lawsuit alleges that the SBA rejected Diamond’s application to join their Small Business Investment Company (SBIC) program. SBIC firms are licensed to provide equity investment and loans to small firms, backed by government guarantees.

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