PathStone gets $500K Citi Foundation aid to help small businesses
The Citi Foundation recently awarded $500,000 in unrestricted funding to nonprofit PathStone Enterprise Center Inc. to support small businesses affected by the earthquakes and the COVID-19 emergency in Puerto Rico.
The donation will increase PathStone’s ability to continue to assist a greater number of small and medium-sized businesses through access to capital and technical assistance during the pandemic, said the nonprofit’s newly appointed Executive Director Javier Zapata-Rodríguez.
A portion of the funds received will be used for commercial loans and free technical assistance to small businesses in minority and higher risk sectors throughout the island.
As a Community Development Financial Institution with a proven record leading small and medium-sized business initiatives, PathStone plays an active role in providing access to capital, technical assistance, and disaster relief and recovery services to underserved businesses.