PathStone Enterprise Center Inc (PECI) in conjunction with the Rural Local Initiatives Support Corporation (Rural LISC), distributed a total of $375,000 in grants to 62 small and medium business owners to help mitigate the negative economic impact caused by the emergency of COVID-19.
The donations come from a grant from the Wells Fargo Works for Small Business: Diverse Community Capital program to provide capital to business owners on the island, said Javier Zapata-Rodríguez, PECI director.
Donation recipients, who are PECI clients, received between $5,000 and $15,000 each, to keep their operations going, retain their employees and adapt their businesses to the new needs caused by the pandemic crisis.
“The economic sector continues in a critical stage aggravated the pandemic. That’s why now more than ever at PathStone Enterprise Center we reaffirm our commitment as partners of small and medium-sized companies,” Zapata said.
“We’re witnesses of their effort and thanks to our alliance with LISC, we’re able to support them so that they can continue to operate and avoid the collapse of their businesses due to the pandemic crisis,” said Zapata.
Donations went to owners of restaurants, photography studios, homes for the elderly, gyms, manufacturing businesses, opticians, agricultural businesses, cabinetry makers, barbershops, bakeries, educational services businesses, beauty and aesthetics salons, among others, throughout the island.