In-Brief

NY Fed releasing survey on P.R. small biz performance

The New York Federal Reserve's Manhattan headquarters. (Credit: www.wikipedia.org.) The New York Federal Reserve’s Manhattan headquarters. (Credit: www.wikipedia.org.)

The Federal Reserve Bank of New York will release findings of the “Puerto Rico Small Business Survey,” a pilot study that focuses on the business performance, financing needs and borrowing experiences of firms across the island.

This new annual survey, to be released Nov. 14, intends to provide a deeper understanding of small business financing conditions in Puerto Rico and identify potential economic growth opportunities for the Commonwealth, the regulator said.

The New York Fed designed this survey with input from partners in Puerto Rico, and it is modeled after the Small Business Credit Survey of U.S. mainland small businesses.

The “Puerto Rico Small Business Survey” takes a detailed look at feedback from more than 750 small businesses to understand factors such as their profitability, applications for credit and the resulting funding and training needs.

The survey was conducted throughout the spring of 2016.

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

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