OFG Bancorp, the financial holding company of San Juan-based Oriental Bank, reported results for the fourth quarter and year ended Dec. 31, 2020, revealing $132.8 million and $519.3 million in revenue, respectively. While the result for the final three month period of last year showed a 35% increase from the versus $98.4 million reported during […]
There are many ways an entrepreneur can acquire customers by using podcast technology available to anyone who knows how to use a smartphone. There are platforms for videos, text platforms for blogging and no less than a dozen powerful social media services. There are also more than 100 platforms to setup a mini-radio station on […]
Discover Puerto Rico, the island’s destination marketing organization has developed a “Municipal Economic Development Guide,” a handbook to help promote economic development in towns to propel the creation of additional jobs through tourism. The guide features sales, marketing, and communication tools to assist mayors, tourism directors, and businesses that serve the tourism sector, to help […]
Consumers who have sought mortgage moratoriums due to the COVID-19 pandemic have a new educational tool on their loss mitigation alternatives once the moratorium ends, in the “Guide for mortgage moratoriums in times of COVID-19,” created by Puerto Rico Legal Services. The nonprofit noted that banking sector data show that more than 90,000 loans in […]
In an effort to show its continued focus on small business development and expansion, the National Puerto Rican Chamber of Commerce has partnered with Brands of Puerto Rico, an e-commerce platform based in San Juan that enables Puerto Rican entrepreneurs to market their products to the rest of the world. With this partnership, the NPR […]
The Department of Economic Development and Commerce, through its Youth Development Program, issued 41 decrees of new companies developed by young entrepreneurs, the agency’s Secretary Manuel Cidre announced. The program and its decrees are regulated by Law 60 of 2019, known as the New Incentives Code. This program targets participants between 16 and 35 years […]
Developing a business idea could be the best way to kickstart the new year and set up for success. With this in mind, Grupo Guayacán is starting off 2021 with an open call for the new edition of I-Corps Puerto Rico (I-Corps PR), its idea validating program. This program seeks to identify teams who are […]
The Ana G. Méndez University (UAGM in Spanish) received a $92M allocation through the Coronavirus Response and Relief Supplemental Appropriations Act designed to offer financial aid to students to mitigate the negative impact of the COVID-19 pandemic and offset expenses incurred by institutions during the emergency, UAGM President José F. Méndez-Méndez said. Once the U.S. […]
Godiva announced it will shutter all of its 128 retail stores in North America, including the one located in Plaza Las Américas in Puerto Rico, by the end of the first quarter of 2021, accelerating a dramatic shift to online sales and through other retail partners. Additional details such as the total number of employees […]
A total of 23 nonprofits participated in the “Your Community has a PLAZA” program in 2020, which allowed them to carry out orientation and fundraising efforts within the Plaza Las Américas mall. From January to March and from September to December, the participating nonprofits reahed more than 20,000 people who visited the shopping center and […]
Looking to continue supporting the development of women entrepreneurs on the island, Walmart Puerto Rico, Kotex, Poise, Colgate, Protex, Carson Life and Eva+Avo announced the “Cuando nos apoyamos, somos más” initiative, a project that in recent years has supported women to grow as entrepreneurs, while achieving economic independence. This year’s goal is to shore up […]
Popular Inc. announced it is now receiving Paycheck Protection Program applications from commercial customers and nonprofit organization, following an additional $284 billion in program funding from the U.S. Congress. Applications will be serviced throughout Popular’s three geographic regions, including Puerto Rico, the US Virgin Islands and the mainland United States, the bank said. “Since the […]
International travel between Puerto Rico and the main destinations in Latin America, Europe and the Caribbean are gradually making a comeback, with some already flying and others mapping out schedules through year’s end. Puerto Rico Tourism Co. Executive Director-designate Carlos Mercado said Spanish airline Iberia is expected to re-establish its direct Madrid-San Juan route during […]
In Puerto Rico, prior to the COVID-19 pandemic, small and medium businesses (SME) accounted for about 75% of all private employment; and nearly 85% of the 6,000 tourism-related businesses were SME. These facts create an urgency to restore external tourism, as soon as possible. On the other hand, reopening tourism-related businesses and managing their recovery […]
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Universal Life Insurance Co., following the San Juan-based firm’s efforts to secure capital through its parent company, Universal Insurance Co., they announced. “The ratings reflect Universal Life’s […]
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA