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CPA, EDB mentoring program for small retailers begins

A healthy group of participants took part in the first orientation session under the new mentoring program for small retailers offered jointly by the Puerto Rico College of Certified Public Accountants and the Puerto Rico Economic Development Bank.

“With this agreement we ensure that participants have first-hand information from professionals with extensive experience to help them make informed decisions, so they can have an efficient and cost-effective operation,” said EDB President Luis Alemañy.

Through the partnership between the private trade organization and the government agency, program participants will be initially given a seminar, followed by personalized workshops and hours of mentoring. The participants received their first orientation on “Tax Compliance for SMEs” dictated by CPA Giancarlo Esquilín.

“We’re once again fulfilling the vision of the CPAs. We congratulate these small retailers for daring to implement the ideas, plans and projects that they always dreamed of,” said Puerto Rico College of Certified Public Accountants President Oscar E. Cullen-Ramos.

“We know that it isn’t an easy road and even less so in the midst of a pandemic, of a lethal virus that has presented so many challenges,” he said.

“But they should know that the EDB and the CPAs will not abandon them, which is why we’ve established this mentoring program to encourage and help them get their business to move forward,” he said.

The BDE will be offering loans to new and existing retailers with an interest rate of 4% to 8%, the agency confirmed.

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This story was written by our staff based on a press release.

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