NCB Cap Market STRATUS aiming to be ‘sweet spot’ for small businesses
NCB Capital Market through its just launched stratus suite of alternative funding is aiming to become the “sweet spot” for small business financing throughout the Caribbean.
STRATUS, which is based in Barbados but has a Caribbean reach, is geared at providing a broad range of alternative investment solutions for financing in the Caribbean. In describing STRATUS as a “sweet spot” for small businesses, NCB Cap Market Chief Executive Officer (CEO) Steven Gooden is inviting those in need of capital but who do not have access to the traditional means of financing to come in and benefit from STRATUS.
Speaking at a recent Jamaica Observer Business Forum, Gooden declared that there is a place for small businesses in the various suites of alternative business solutions being rolled out by NCB Cap Market through its STRATUS platform of alternative financing.
STRATUS REGIONAL INITIATIVE
He pointed out that while STRATUS was established in Barbados, it is a regional initiative to provide alternative financial support to the region’s small businesses desirous of much-needed capital to grow their enterprises as well as regional governments, which need capital for the provision of goods and services for their people.
Gooden made mention of the infrastructure fund, established under STRATUS, which was recently seeded from a Us$10million private placement last month. This fund, he argued, could be used to provide well-needed infrastructure financing in the event of infrastructure damage caused by a natural disaster.
The NCB Cap Market CEO also referred to the recent disclosure that it would cost upwards of one trillion dollars to repair Jamaica’s road network, intimating that funding for such a venture could be accessed through STRATUS Infrastructure fund through public-private partnership arrangements without the Government having to take out massive debts to execute such infrastructure projects.
BARBADOS PREFERRED JURISDICTION
When asked why Barbados was opted as the home base for STRATUS, NCB Cap Market assistanct vice-president for Alternative Investment and Fund Management Simone Hudson Bernard sought to explain.
She contended that Barbados was selected based on the fact that the jurisdiction offered the latitude and flexibility needed for the broad range of alternative investment solutions STRATUS is seeking to roll out across in the Caribbean.
Hudson Bernard told the Business Forum that already there is much traction for STRATUS in the local marketplace pointing out that NCB Cap Market has got a lot of enquiries from businesses, looking at these types of alternative financing being rolled out by STRATUS. Hudson Bernard indicated that investors are also calling enquiring about how they can participate and benefit from the funds prodivided by STRATUS.
She explained that there was a soft launch for STRATUS on social media with a more elaborate one to scheduled in the coming weeks.