Minority Enterprise Venture Capital Act

Minority Enterprise Venture Capital Act - Amends the Small Business Investment Act of 1958 to change the title of the Associate Administrator for Finance and Investment of the Small Business Administration to that of Associate Administrator for Investment.

Sets the interest rate payable on debentures purchased by the Small Business Administration at three percent per annum and the dividend rate on preferred securities purchased by the Administration at three percent per annum. Limits the amount of preferred securities that the Administration can purchase from specified small business investment companies.

Requires that any small business investment company authorized by the Small Business Investment Act of 1958 after December 31, 1977, have not less than $500,000 of private paid-in capital and surplus.