Funds for small firms

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)