SB Corp gets investment partner

The Small Business Corp. (SB Corp.) has entered into an arrangement with Iron Capital Management Corp. (Iron Cap) that would expand its equity base for lending to small and medium enterprises (SMEs).

Iron Cap, which presently manages a P75 million investment fund, specializes in making investments or equity financing in consumer products, consumer finance, education, healthcare, outsourcing, tourism, and retail industries.

It is the second investment equity partner after Enviro Venture Inc., a "for profit" subsidiary of Counterpart International, an American non-government organization engaged in socio-economic development projects worldwide.

SB Corp., a line agency of the Department of Trade and Investments (DTI), established two years ago the Equity Ventures Program (EVP) which targets at least P50 million in investments this year.

The EVP is focused on making investments in SMEs for marketing, technical, management and production operations. It is implemented with a private sector partner like Iron Cap and Enviro Venture that are also into equity investments and financing for the same sector. – TPT