Funds for small firms

JAKARTA (JP): New South Sulawesi venture capital firm PT Sarana Sulsel Ventura has provided Rp 3.9 billion (US$1.59 million) to 50 small business in the province.

The company's director, Mubyl Handaling, was quoted Sunday by Antara in Ujungpandang, South Sulawesi, as saying that most of the funds went to construction and rice milling firms, and the rest to mining, manufacturing, trading and servicing firms, plus cooperatives.

Mubyl said the company was providing Rp 10 billion for equity to small and medium businesses but a lack of knowledge about the benefits of borrowing from a venture capital firm had slowed the channeling of the funds. (13)