Parallel18 announces 1st all-Puerto Rican P18 cohort
April 22, 2020
Looking to continue to fulfill its mission to support high-impact entrepreneurship on the island, even in the midst of a pandemic, international startup initiative parallel18 announced the selection of 14 Puerto Rican companies that will make up the eighth generation of its P18 accelerator program. The group of companies showcases the growth from parallel18’s pre-acceleration […]
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Sam’s Club donates $100K in food to community through nonprofits
April 22, 2020
Sam’s Club Puerto Rico has distributed five food wagons worth $100,000 among 25 nonprofit organizations throughout the island to support their mission of assisting different disadvantaged populations during the emergency caused by the COVID-19 pandemic. “In the challenging times we are experiencing, we have to unite and collaborate to start moving forward,” said Iván Báez, […]
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CNE: Financial sector failed miserably in Puerto Rico’s hour of need
April 21, 2020
The local financial sector “failed miserably in Puerto Rico’s hour of need” by not helping to close more loans and secure aid for the island’s small business sector through the Paycheck Protection Program, the Center for a New Economy concluded in an analysis of the effects of the federal initiative. The island failed to take […]
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DOT public relations agency launches ‘Support the Makers’ program
April 21, 2020
Public relations agency DOT has launched the “Support the Makers” program In support and recognition of individuals, small businesses and organizations that have reinvented themselves during the COVID-19 emergency. The project aims to publicize the services and initiatives that are being carried out during the quarantine period among the community and make the communications agency’s […]
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Fundación Triple-S donates $250K to support food security
April 21, 2020
Fundación Triple-S has allocated $250,000 to support nonprofit organizations that are working to address food insecurity and other urgent needs in communities around Puerto Rico during the COVID-19 health crisis. The first four organizations chosen to receive the funds are: World Central Kitchen Puerto Rico; Food Bank of Puerto Rico; Iniciativa Comunitaria; and Albergue El […]
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Vázquez signs law to reduce tax rate for some Puerto Rico residents
April 20, 2020
Gov. Wanda Vázquez signed into law a bill presenting several amendments to the Puerto Rico Tax Reform passed last year that will benefit taxpayers, entrepreneurs and seniors. Law 40-2020, grants an additional 3% reduction for taxpayers whose gross income does not exceed $100,000; eliminates the tax on the provision of services rendered to other businesses […]
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Open Society Foundations invest $500K in Puerto Rico’s COVID-19 response
April 20, 2020
The Open Society Foundations announced a $500,000 investment in Puerto Rico to respond to short-term humanitarian needs on the island driven by the coronavirus while also “making sure that Congress and the Trump administration, as well as local governments in Puerto Rico, recognize the needs of Puerto Ricans during this difficult time.” The investments will […]
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Puerto Rico U.S. Attorney’s office, Elder Justice Task Force launch COVID-19 testing
April 20, 2020
Puerto Rico U.S. Attorney W. Stephen Muldrow and the Elder Justice Task Force announced the launch of an islandwide COVID-19 testing initiative for all residents and employees in Puerto Rico’s long-term care facilities. This multi-agency, multi-sectoral initiative will cover more than 1,000 facilities, 28,000 residents, and 9,000 employees and caregivers during the next three weeks, […]
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SBA confirms Puerto Rico lenders approved 2,856 loans totaling $659M
April 17, 2020
The U.S. Small Business Administration released a report today confirming that Puerto Rico’s banking partners approved a combined 2,856 loans for a total of $658.5 million under the Paycheck Protection Program (PPP) as of April 16. In total, the loan count for eligible businesses across the U.S. mainland and its territories totaled 1.7 million, representing […]
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Popular approves close to $500M in SBA-backed loans
April 17, 2020
Popular announced that the Small Business Administration approved a total of $494 million in loans to its clients under the Paycheck Protection Program (PPP). Of these, $398 million was granted through Banco Popular de Puerto Rico and $96 million through Popular Bank, Popular’s banking subsidiary on the U.S. mainland. The Paycheck Protection Program was well received in Puerto […]
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Federal gov’t faces COVID-19 crisis blindly; Lacks risk monitoring system that would include pandemics
April 17, 2020
By Eliván Martínez MercadoCenter for Investigative Journalism President Donald Trump’s administration is steering the response to the coronavirus like a pilot who flies blindfolded. The Department of Health and Human Services (HHS) for 12 years has failed to comply with its obligation to operate a centralized digital platform to share information, as close as possible […]
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P.R. Community Foundation, Amgen lead $625K COVID-19 community prevention initiative
April 17, 2020
The Puerto Rico Community Foundation is leading the charge on a collective movement of nonprofits to “drive and strengthen” its collective response to COVID-19 community strategy. The PRFC has joined forces with the Amgen Foundation, donors such as The Chicago Community Trust, Central Florida Foundation, and The Prospect Hill Foundation, as well as individuals who […]
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U.S. Dept. of Commerce invests $4.5M in former Roosevelt Roads Naval Station
April 16, 2020
U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $4.5 million grant to the Roosevelt Roads Redevelopment Authority to rehabilitate a building and make other infrastructure improvements on former Naval Station Roosevelt Roads. The EDA grant will support early-stage businesses focused on the visitor economy and is […]
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Treasury: Eligible Puerto Rico residents to get CARES Act check in late April
April 16, 2020
The $1,200 stimulus checks provided under the Coronavirus Aid, Relief, and Economic Security (CARES) Act that some Puerto Rico residents are already receiving respond to specific circumstances that don’t apply to everybody on the island, Treasury Secretary Francisco Parés said. Furthermore, he said local residents who are eligible for the benefit could begin seeing the […]
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Liberty Puerto Rico opens access to more free channels, SiriusXM
April 16, 2020
Liberty Puerto Rico announced it has opened access to more channels for clients to access free of charge during the COVID-19 lockdown. Liberty’s television subscribers will have access to The Weather Channel until June 13, plus all of HBO and Cinemax’s premium channels from April 17-20, regardless of the bundles they are subscribed to. Additionally, […]
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