Oriental launches 3rd seed fund call for nonprofits
Oriental Bank, in partnership with the Puerto Rico Community Foundation, has opened the third round of grants from the Oriental Fund for nonprofits that run microentrepreneur incubation and acceleration programs.
Applications are open through Oct. 24 on the foundation’s website.
The fund is designed to strengthen Puerto Rico’s entrepreneurial ecosystem by supporting nonprofits that provide seed capital to early-stage entrepreneurs.
Over the past two years, the Oriental Fund has awarded $200,000 in grants to eight organizations, helping create and expand microenterprises across multiple municipalities, Oriental said.
“At Oriental, we believe in the transformative power of local entrepreneurs. This third edition of the Oriental Fund reaffirms our commitment to social innovation and sustainable economic development,” said Lumarie Vega-López, executive director of marketing and public relations at Oriental.
“By strengthening nonprofit organizations that support microentrepreneurs during key moments of growth, we accelerate progress from the grassroots level,” she said.
Puerto Rico Community Foundation President Nelson I. Colón-Tarrats added, “Every microenterprise born with the support of the Oriental Fund represents a story of perseverance and hope. We’re proud to be part of this engine that drives community-based economic development.”
The foundation manages more than 100 philanthropic funds that support social causes including economic activation, renewable energy and equity initiatives.
