The golden rule for creating a successful business is to find aniche and then fill it. That's exactly what Manuel Iglesias andTerry Jaramillo are doing. The two are members of the managementteam behind Capital International SBIC LP, the first Small BusinessInvestment Company (SBIC) to target Latino businesses. (The companygives some loans to non-Latino businesses, too.) Specialized SBICstypically serve niche markets, but Iglesias and Jaramillo saw anunmet need.
"With the consolidation of the banking system, local banksthat served small, homegrown Latino businesses havedisappeared," says Iglesias, whose company targets businessesprimarily in Florida, New York and Puerto Rico. "Now thesebusinesses are [dealing with] national banks not in touch with thecommunity."
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