Focused on continuing to support local economic development, Banco Popular announced the opening of a third call for entries for entrepreneurs wishing to participate in the “StartUp Popular” program.
This third call will be available from March 15 until May 31, 2017.
“We at Banco Popular, as promoters of progress, are continually looking for tools and services that support our clients in developing new businesses. The StartUp initiative was born out of that effort last year,” said Ignacio Álvarez, president of Banco Popular.
“We have already impacted 40 businesses in their first phase and we are confident that this third call will be equally successful,” he said.
“StartUp Popular” was designed to support entrepreneurship. The third call for the funding program has an allocation of $1.6 million and will work through proposals. To qualify, the business must be generating sales and have up to a maximum of two years in operation.
The program is complete and agile, and aims to support the entrepreneur in several facets, not only in the loan or credit line disbursement of up to $50,000, but guiding participants with an extensive educational, support and networking program.
It also incorporates a wide variety of services and benefits, once the proposal is approved, which include:
- Lower payments during the first year of the term;
- Business coaching for the development of your business;
- Business account (FlexiCuenta de Negocios or B-Smart), and;
- Access to My Commercial Bank, both free of charge for one year.
Within the “StartUp Popular” program, participants will receive business coaching services, provided through the company 100Ventures Business Accelerator, and networking events to connect clients with other entrepreneurs, investors and buyers.
The 100Ventures Business Accelerator group will offer advisory services in the areas of finance, marketing, legal, administration, human resources and the permitting process, among others. This product was designed for the entrepreneur who needs to formalize their business and expand.
“At Popular we are committed to continue to drive the new entrepreneurs and continue to serve this segment that has proven its enthusiasm to advance the development goals of our island,” added Álvarez.
Those interested in participating should visit StartUp.Popular.com to access the required form.