Bankers Association urges switch to federal e-payments
25 de septiembre de 2025
Professional association warns paper checks end Sept. 30 under new U.S. order. #NewsismyBusiness
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Puerto Rico still taxes tips despite US exemption plan
23 de septiembre de 2025
Local rules treat gratuities as taxable wages while federal proposal would spare service workers. #NewsismyBusiness
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Hispanic-owned businesses surging on U.S. mainland
18 de noviembre de 2024
Hispanic business owners accounted for nearly 5.2 million companies with $766.8 billion in annual sales, 3 million employees, and $124.4 billion in annual payroll. #NewsismyBusiness
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Banco Popular subsidiary receives $40M allocation from U.S. Treasury
14 de octubre de 2024
The funds will be used to enhance services to low-income communities in Puerto Rico, New York and Florida. #NewsismyBusiness
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U.S. Treasury lists ‘historic investments, economic growth opportunities’ for Puerto Rico
11 de octubre de 2024
These investments represent a crucial step in Puerto Rico’s economic recovery, the agency stated. #NewsismyBusiness
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Puerto Rico gets $158M in federal funds for 2 broadband programs
septiembre 7, 2023
The Biden administration has allocated nearly $500 million for Puerto Rico’s broadband programs. #NewsismyBusiness
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27 Puerto Rico credit unions receive $47.3M in funding from US Treasury
16 de junio de 2021
The US Department of the Treasury today announced the allocation of $47.3 million in relief funds to 27 Puerto Rico-based credit unions, through its CDFI Rapid Response Program (CDFI RRP). The goal is to provide necessary capital for community development financial institutions (CDFIs) to respond to economic challenges created by the COVID-19 pandemic, particularly in […]
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U.S. Treasury assigns $6M to 32 Puerto Rico-based credit unions
septiembre 25, 2020
A group of 32 credit unions in Puerto Rico received about $6 million in assignments from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to expand their services to economically disadvantaged communities. The allocation constitutes the largest amount granted by the U.S. Treasury to co-ops in Puerto Rico, reaching $10 million […]
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SBA backs $741M+ in PPP loans of up to $150K in Puerto Rico
julio 7, 2020
The U.S. Small Business Administration and the U.S. Department of Treasury released Paycheck Protection Program Loan data that revealed that since the start of the program in April, local banks have processed some 35,896 loans for up to $150,000 totaling $741.4 million so far. The detailed loan-level data for Puerto Rico shows that more than […]
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SBA, Treasury Department announce $10B for CDFIs to participate in PPP
mayo 29, 2020
The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and […]
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SBA, US Treasury release Paycheck Protection Program loan forgiveness application
mayo 19, 2020
The U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, released the Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions for the process. “The documents released will help small businesses seek forgiveness at the conclusion of the eight-week period covered under the law, which begins with the disbursement of […]
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Puerto Rico Treasury to begin notifying taxpayers eligible for $1,200 stimulus
abril 23, 2020
Some 486,000 Puerto Rico residents will begin receiving e-mail notices from the island’s Treasury Department informing them of their eligibility for the $1,200 federal stimulus check, which will be deposited directly into their bank accounts, agency Secretary Francisco Parés said. The deposits materializes as soon as the U.S. Department of the Treasury approves the local […]
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Treasury: Eligible Puerto Rico residents to get CARES Act check in late April
abril 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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U.S. Treasury assigns $2.5M in grants to 20 credit unions
septiembre 20, 2019
The U.S. Department of the Treasury awarded $2.5 million in grants to 20 credit unions through its Community Development Financial Institutions Fund to develop more community impact projects, the Credit Union Executives Association announced. Each credit union will receive $125,000 to allow them to prepare to access federal and private funds that will be invested […]
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Gov’t to tackle expected $1.8b revenue loss from end of Law 154 tax credit
septiembre 12, 2019
The government of Puerto Rico will establish work groups comprising local and federal officials, as well as private-sector executives, to brainstorm on potential alternatives to offset the loss of federal credits granted for taxes paid by manufacturing companies under the Commonwealth’s Law 154. The tax credits, which will be phased out by the U.S. Department […]
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