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EDB offers emergency loans of up to $50K to help P.R. physicians recover

From left: Víctor Ramos, Luis Burdiel and Health Secretary Rafael Rodríguez offer details of the new financing initiative.

The Puerto Rico Economic Development Bank has signed an agreement with the College of Physicians and Surgeons to offer emergency loans of up to $50,000 to physicians whose practices were affected by Hurricane María.

In a joint news conference, EDB President Luis Burdiel and College of Physicians and Surgeons President Víctor Ramos announced the effort seeks to help strengthen the healthcare industry and accelerate recovery efforts.

“Today we announce this agreement, which aims to strengthen the health services industry by providing financial support to doctors who were affected by Hurricane María. As part of the agreement, we will be offering an orientation cycle on our financial products, particularly emergency loans,” Burdiel said.

“We thank the EDB and the Rosselló administration for this great initiative that accelerates by months the reconstruction and rehabilitation of medical offices as part of the process to rebuild the island,” said Ramos, who added that “many professional offices remain closed” more than three months after the storm hit for a lack of electricity and vandalism.

The College of Physicians and Surgeons has some 11,000 affiliates islandwide.

Burdiel explained that the fast-track emergency loans of up to $50,000 can be used for working capital, payroll, structure repair and to purchase equipment.

“This initiative is aligned with our obligation to contribute to the effective implementation of public policy aimed at promoting the development of a stable and self-sustaining economy,” said Burdiel.

As part of the agreement, the EDB will host an orientation session for physicians on Jan. 23 at 9 a.m. at the agency’s auditorium at its Guaynabo headquarters.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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