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PathStone begins accepting new funding applications from SMEs

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Nonprofit organization, PathStone Enterprise Center Inc., (PECI) began receiving and evaluating applications for financing under its Assistance and Loan Program for new clients looking to establish their own business or expand an existing business.

“At PathStone Enterprise Center we recognize the tough path that entrepreneurs experience in search of the necessary financing for the development of their new company or to boost their business,” said Rosa Uriarte-Soto, director of PathStone Enterprise Center.

“That’s why PECI is once again present and is here to support our entrepreneurs with beneficial financing options,” she said.

Financing alternatives range from $5,000 to $50,000 for new businesses, while established businesses can apply for up to $250,000.

Loans can be used to finance machinery and equipment, materials and inventory, working capital, business expansions, new employee salaries, and the costs of establishing a business, among others.

“This business sector is fundamental for Puerto Rico’s economic development and at PECI we help them grow their business with our financial programs, technical assistance and access to capital that are neglected by other banking industries,” said Uriarte-Soto.

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This story was written by our staff based on a press release.
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