The U.S. Small Business Administration announced that 2,067 small businesses in Puerto Rico and the U.S. Virgin Islands were awarded $618.8M in federal contracts during Fiscal Year 2019. The information is included in the agency’s Fiscal Year 2019 Small Business Federal Procurement Scorecard, which confirms that $132.9 billion in prime federal contracts — 26.5% of […]
Puerto Rico may soon have a new player in the specialty carbonated drinks category, with the launch of The Pop’d Shop soda brand, a product manufactured by a startup currently participating in business accelerator Parallel18’s Generation 8 cohort. Company founder Mark Wieder said the handcrafted soda pop line — which features four different flavors: citrus, […]
Colmena66, a program of the Puerto Rico Science, Technology and Research Trust, shared the results of its “Levanta tu Negocio Puerto Rico” survey, which among other things, revealed that 86% of participating businesses lack a contingency fund for unforeseen situations. The survey began on Mar. 20 and during the first five weeks, 625 responses were […]
The U.S. Small Business Administration confirmed it continues to approve loans for Puerto Rico and U.S. Virgin Islands small businesses during the second round of SBA’s Paycheck Protection Program, with more than $120 billion still available. “We encourage small business owners in Puerto Rico and the USVI to take advantage of this opportunity to keep […]
Grupo Guayacán and Popular have partnered once again to provide a total of $90,000 in economic relief grants for small businesses that are currently struggling to maintain operations amid the COVID-19 pandemic. The incentive “will provide much-needed aid to companies that are working hard and reinventing themselves to survive the challenges of this difficult time,” […]
Por Onza, a sustainable, package-free shop is slated to open in the southwestern town of Cabo Rojo to offer a variety of locally harvested products, owner Wilvette González confirmed. The concept is about letting customers buy the products in bulk, which they will pack in their own reusable containers, González said. “Each person will serve […]
The U.S. Small Business Administration announced it has granted Gov. Wanda Vázquez’s request to help businesses on the island affected by the global emergency related to COVID-19. On Mar. 18, Vázquez asked the SBA for resources under the Economic Injury Disaster Loans (EIDL) program for businesses in Puerto Rico under the Robert T. Stafford Emergency Assistance […]
Causa Local, the local representative of the Kiva crowd-lending platforming, unveiled a new financial product offering loans of up to $15,000 at 0% interest for small and medium businesses and enterprising artists. The amount represents a $5,000 increase in funding available to applicants, in comparison to the $10,000 cap the program offered when it was […]
The Better Business Bureau of Southeast Florida signed an agreement with the U.S. Small Business Administration in Puerto Rico, marking “a new stage for the BBB” in its mission to reestablish relations in the Puerto Rico area. As part of the strategic alliance, the BBB will provide the SBA with educational content for business, and […]
CINCO Engineering, DataWifi, and Dokimi, Inc — owner of both EduSynch and Levely — are the latest companies to join P18Ventures, a follow-up investment portfolio of the Puerto Rico Science, Technology, and Research Trust’s international startup initiative that includes a business accelerator and various sub-programs. As part of the fundraising ecosystem’s ongoing growth, the Science […]
Sangria lovers are about to get a taste of a new line of the popular cocktail, St.Gria, produced by a husband and wife team that have concocted three unique flavor combinations that blend fresh juices, teas and spices. The first batch of the St.Gría line, which has been in the development and tasting stage for […]
Representatives from a group of well-known local brands announced the start of the “Cuando nos apoyamos, somos más” (“When we support each other, we’re more”) initiative to support women entrepreneurs in Puerto Rico. Through this effort, and in partnership with the Centro para Puerto Rico, $45,000 will be granted to train women who want to […]
The Bravo Family Foundation’s Rising Entrepreneurs Program officially kicked off with 32 teams that presented their innovative companies to a panel of judges during an event on Jan. 21. The groups that where pre-selected through an open call announced in October 2019, had three minutes to talk about their businesses and answer questions led by […]
Puerto Rico-based Señor Paleta is marking the holiday season with the creation of a quartet of special holiday flavors, available during December and January. The newest addition to this offering, the Papaya Queso paleta, is inspired by the typical Puerto Rican dessert and is the fourth flavor that will be offered exclusively in all its […]
The U.S. Small Business Administration approved (SBA) approved 439 loans for $78.2 million to small businesses in Puerto Rico and the U.S. Virgin Islands during fiscal year 2019, a 35% and 28% increase, respectively, over the previous year, the agency announced. Of the total loans approved, 189 for $39 million were for small businesses in […]
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