BDE, Construction Materials Retailers Association renew partnership
The alliance expands financing and support for Puerto Rico’s hardware sector.
The Puerto Rico Economic Development Bank (BDE, in Spanish) and the Construction Materials Retailers Association (ACMC, in Spanish) have renewed their strategic alliance to continue supporting the hardware sector with access to financing, technical guidance and tailored solutions.
“Our collaboration with ACMC is part of a broader strategy and the BDE’s commitment to directly support key sectors that drive the island’s economy,” said BDE President Carmen Vega-Fournier, who is also a certified public accountant. “Small and medium-sized businesses are a fundamental driver of our economy and supporting them with financing is key to facilitating their establishment, strengthening their sustainability and fostering their growth.”
Vega-Fournier emphasized the role of the construction sector in Puerto Rico’s infrastructure and economic development. The renewed alliance will focus on merchants — primarily family-owned businesses and SMEs — with high growth potential and a key role in the island’s recovery and long-term development, officials said.
“We’re very pleased to resume our collaborative agreement with the BDE, as we seek to support members who are considering creating new businesses or expanding existing ones,” said ACMC President Fabio Quevedo. The alliance offers financing options and helps expand member benefits, he added.
Through the partnership, ACMC members will have access to BDE financing with annual interest rates starting at 4% for uses including working capital, purchasing machinery and equipment, property improvements, and construction or acquisition of facilities.
The BDE will also provide a team of contractors to offer free technical assistance and personalized support throughout the federal loan application process.
“We are strategic allies committed to supporting building materials retailers,” Vega-Fournier said. “The renewal of our alliance shows that we seek out, listen to and respond to retailers with real solutions to their needs. Presenting our financing alternatives directly to SME owners is vital, as they are the ones who drive the economy from their warehouses, stores and communities, resulting in greater stability and economic development for Puerto Rico.”
