The United States Hispanic Chamber of Commerce (USHCC) today announced the launch of the USHCC-SBCC Capital Initiative, a new partnership with Small Business Community Capital II, L.P. (SBCC). Through the Initiative, the USHCC will offer its network of entrepreneurs and business owners the ability to apply for a variety of SBCC capital and strategic support funding.
In a previous announcement this week, SBCC stated that it has received a license to operate as a small business investment company (SBIC) from the U.S. Small Business Administration. SBCC provides customized capital solutions, including senior and subordinated debt and equity capital, for expansion, acquisition, buyout, ownership shifts, refinancing or recapitalization.
“The USHCC is thrilled to partner with the SBCC investment fund – a historic achievement in its own right – to provide significant access to capital for small businesses throughout America,” stated USHCC President & CEO Javier Palomarez. “When visiting with USHCC members, I constantly hear about the need for greater access to capital and credit. And rather than rely on others or wait for institutional change, the partners of SBCC have decided to act. This is why the USHCC will work tirelessly over the coming weeks to ensure Hispanic enterprises are aware of the available capital that can transform their businesses.”
SBCC is one of the few Hispanic-led and Latina-managed SBIC funds in the history of the U.S. Small Business Administration, and it will be co-led by Monika Mantilla, President & CEO of Altura Capital and Managing Partner of SBCC. In addition to Mantilla, the managing team of SBCC has more than 100 years of combined investment experience.
Commenting on the creation of SBCC earlier this week, Mantilla stated, “We have cultivated strong relationships, have great passion for, and enjoy a leadership role in the small, women and minority owned firms business categories. We proactively create and nurture opportunities in collaboration with corporate America, institutional investors, trade associations and industry councils to accelerate MWBE growth, impact and scale.”
SBCC will invest in small and lower middle market companies across the United States, including Puerto Rico, and has committed to invest at least 50% of its capital in businesses located within Low-to-Moderate Income (LMI) zones.
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of our nation’s entrepreneurs. The USHCC advocates on behalf of nearly 3.2 million Hispanic-owned businesses, that together contribute in excess of $486 billion to the American economy, each year. As the leading organization of its kind, the USHCC serves as an umbrella to more than 200 local chambers and business associations nationwide, and partners with more than 240 major corporations throughout the United States. For more information, visit www.ushcc.com, follow us on Twitter @USHCC.
Small Business Community Capital II, L.P. (SBCC) is an SBIC impact fund that provides customized capital solutions, including senior and subordinated debt and equity capital. SBCC invests in small and lower middle market companies in the United States. SBCC partners with owners and management teams to provide capital for expansion, acquisition, buyout, ownership shifts, refinancing or recapitalization. Size of investments are $1 to $12 million. SBCC targets companies with $1 to $12 million in EBITDA. SBCC will invest at least 50% of its capital in businesses located within Low-to-Moderate Income (“LMI”) zones within the U.S. and Puerto Rico. For more information, visit www.sbccfund.com.