The Puerto Rico Cooperatives League recently unveiled a Guide to boost the island’s economic development, available for download at www.liga.coop.
The document includes steps to follow for the creation of new cooperatives, the importance of continuing education, networking, evaluation, referral, consulting, affiliation and integration.
It also offers a section on financing for SMEs and cooperatives, services offered by Cooperative Circuit affiliated with the Financial Service Center, the Cooperativa de Seguros Múltiples and COSVI, said William Ortiz-Negrón, chairman of the entity and Mildred Santiago-Ortiz, executive director, during a news conference to also inaugurate its new headquarters in Río Piedras.
“With the launch of the Guide and the inauguration of our new headquarters, we reaffirm the commitment the past six years and the contribution of more than $1 billion to Puerto Rico’s economic development,” Ortiz-Negrón said.
“In addition, we have contributed more than $51 million in production credits for micro and small businesses as well as more than $70 million for financing and credits to nonprofit entities that serve the community,” he added.
Puerto Rico there are 116 credit unions, of which 79 are open to the general population and of that group, 72 percent offer products or services for the business development of SMEs and new cooperatives, said Santiago-Ortiz.