USDA expands servicing options for guaranteed lenders
April 9, 2020
USDA Rural Development Deputy Under Secretary Bette Brand announced that the agency is expanding servicing options for guaranteed lenders due to the COVID-19 pandemic. USDA is expanding upon the deferral flexibilities it announced Mar. 31, 2020, indicating that guaranteed lenders may also approve and make covered loans under the provisions of Section 1102 of the […]
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Puerto Rico’s economy will take a $4.8B hit from COVID-19 this year
April 8, 2020
Puerto Rico’s economy will experience a net direct impact of some $4.8 billion through the end of 2020 as a result of the measures taken to fight the spread of the COVID-19 virus — which could have been as high as $8.2 billion, had the blow not been softened by local and federal relief packages. […]
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Puerto Rico governor’s office assigned $2.5M in FEMA recovery funding
April 8, 2020
The Federal Emergency Management Agency announced the obligation of an additional $11.4 million in funds for 97 post-Hurricane María recovery and reconstruction projects in Puerto Rico. That amount includes nearly $2.5 million assigned to the Office of the Governor at La Fortaleza in Old San Juan for a number of repairs to the building’s third […]
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Puerto Rico Farm Credit to help farmers handle COVID-19 emergency
April 8, 2020
Puerto Rico Farm Credit confirmed it will be offering local farmers affected by the COVID-19 emergency options to get financial assistance available through the U.S. Small Business Administration’s Paycheck Protection Program. The SBA has selected a number of financial institutions in Puerto Rico to help the different sectors. The program offers employers a loan to […]
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Report: Puerto Rico’s COVID-19 crisis will spur opportunities
April 8, 2020
Puerto Rico’s current situation, albeit unfortunate, will bring more opportunities “find niches of economic growth and development” in the medium and longer term. But in the near-term, the island will continue to drag economic challenges present before the COVID-19 emergency. So predicts H. Calero Consulting Group Inc. in its latest edition of its in-house “Economic […]
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Twins Theory to build free e-commerce platform for 2 small businesses
April 8, 2020
Entrepreneurial brothers Jonathan and Joel Cotto, owners of the technology and marketing company Twins Theory based in San Juan, announced they will be selecting two small businesses to develop their online sales platforms for free. “In this time of crisis that the world is experiencing, we should all think about how we can help those […]
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PowerSports to supply personal protection equipment to fight COVID-19
April 8, 2020
Puerto Rican firm PowerSports announced that starting this week it will begin to supply large-scale personal protective equipment and other products related to the COVID-19 emergency, to help meet the needs of the private sector, the health industry and government. “We’ve seen there’s a great need for this type of product for the protection of […]
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Puerto Rico-based co.’s band together to help small businesses, nonprofits
April 8, 2020
Startup accelerator Gener8tor, in a collaborative effort with the Titín Foundation and Causa Local, unveiled an initiative to support small local businesses and nonprofits affected by COVID-19. For a week, small business owners, startups, freelancers and nonprofit institutions will be able to access, free of charge, webinars to guide them in identifying opportunities and available […]
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Puerto Rico Treasury waiting on federal guidelines to cut $1,200 checks
April 7, 2020
The Puerto Rico Treasury Department is waiting on its federal counterpart to issue the guidelines to cut $1,200 checks to eligible island residents as part of the CARES Act. However, the agency announced that it is considering advancing the disbursements after the Financial Oversight and Management Board for Puerto Rico approved the local government’s request […]
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Passengers arrive in Puerto Rico from areas of greatest contagion by coronavirus in the U.S.
April 7, 2020
Passenger flow from the areas of largest spread of the virus in the United States has dropped but has not stopped. Those areas also have the highest concentrations of Puerto Rican residing there. That is coupled with the fact that island airports did not take preventive health measures for weeks and tracing people who were […]
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Alliance launches campaign to bring manufacturing back to U.S. soil
April 7, 2020
Stressing that the COVID-10 pandemic has put the spotlight on the importance of the manufacture of medicines, products and medical devices to guarantee the health of citizens, the Alliance for the Economic Development of Puerto Rico launched a campaign to support the return of pharmaceutical and health-related products to the United States. The private sector […]
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New free digital platform helps nonprofits continue to offer social services
April 7, 2020
The quarantine in place to contain the spread of the COVID-19 virus in Puerto Rico has left many community and nonprofit organizations with a limited ability to offer social services — which are essential for the island’s vulnerable populations. To remedy that, Puerto Rican company Propulsa, LLC has created Sociants, a free digital platform that […]
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Open Spaces warns over ‘corruption virus’ incubating during emergencies
April 7, 2020
Puerto Rico-based nonprofit Open Spaces warned Monday that the “corruption virus” incubates in emergency situations such as the COVID-19 pandemic and proposed a series of measures to Gov. Wanda Vázquez and Health Secretary Lorenzo González, as recent cases have come to light about shady government purchases or questions about their delivery. In a letter, Open […]
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Op-Ed: Learning by shock, the big trick of remote work
April 7, 2020
Suddenly, Zoom meetings are as ubiquitous as your morning coffee. Beyond that, now hanging out with friends staring at your computer, virtual parties, concerts and tours are in our new everyday lives during the COVID-19 pandemic. Suddenly we’re living in a dystopian world that still seems as far-fetched as when we watched movies like “Contagion.” […]
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Mapfre Foundation donates $650K in health equipment to Puerto Rico
April 7, 2020
Fundación MAPFRE announced it will donate some $650,000 to Puerto Rico, for the acquisition of respirators, medical equipment and sanitary protection to address the emergency generated by the spread of the coronavirus COVID-19. The money will be used to buy and distribute masks and medical supplies to hospitals and social entities in need, and to […]
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