Type to search


SBA Puerto Rico partners with Friends of Puerto Rico

The U.S. Small Business Administration Puerto Rico/US Virgin Islands District Office signed a Strategic Alliance Memorandum (SAM) with Friends of Puerto Rico, a nonprofit that that supports the economic development of the people of Puerto Rico through entrepreneurial initiatives and education, which creates opportunities for women.

SBA District Director Josué E. Rivera and Friends of Puerto Rico President Angelique Sina signed the agreement that will be in place for an initial period of two years.

The SBA aids, counsels, assists, and protects the interests of small business by providing financial, contractual, and business development assistance to entrepreneurs and advocates, strengthening the small business community on the island.

Similarly, Friends of Puerto Rico works within its network of partners to create economic opportunities for the people of Puerto Rico, specifically entrepreneurship development programs focused on women and youth.

“The SBA Puerto Rico District is eager to promote economic empowerment, increase certifications focused on Women Owned Small Businesses (WOSBs), assist small firms increase their federal contracting opportunities to enhance revenue capabilities and collaborate with our other resource partners,” said Rivera.

“This new Strategic Alliance will grow our capabilities to reach more small business owners and entrepreneurs, especially as Friends of Puerto Rico recently won the federal award for the operations of one of the island’s two new Women’s Business Centers, powered by SBA, at University of Puerto Rico in Bayamón,” he added.

Meanwhile, Sina cited US Census Bureau statistics that confirm that there are at least 40,000 small businesses in Puerto Rico.

“This opportunity to collaborate with the SBA means a great step and an opportunity to support them and continue walking toward the recovery of Puerto Rico,” she said.

The scope of the strategic alliance will include inviting Friends of Puerto Rico’s clients to SBA-sponsored trainings and events; providing current information about SBA’s events; programs and services; including referrals to SBA’s resource partners: SBDC, SCORE and WBC; and sharing information, websites, and social media links to empower and encourage entrepreneurship and growth of small businesses in Puerto Rico.

The SBA Puerto Rico/USVI District is already slated to make monthly presentations to the membership of Friends of Puerto Rico on issues such as Access to Capital and federal Contracting programs and opportunities.

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

Leave a Comment

Your email address will not be published. Required fields are marked *