The Puerto Rico Hotel & Tourism Association on Monday hailed the change in the U.S. Small Business Administration’s Payment Protection Program that allows hotels with casinos to benefit from the loans. “Since the CARES Act was announced last April, to mitigate the impact of the COVID-19 pandemic, the PRHTA has worked continuously to correct the […]
The local financial sector “failed miserably in Puerto Rico’s hour of need” by not helping to close more loans and secure aid for the island’s small business sector through the Paycheck Protection Program, the Center for a New Economy concluded in an analysis of the effects of the federal initiative. The island failed to take […]
The U.S. Small Business Administration released a report today confirming that Puerto Rico’s banking partners approved a combined 2,856 loans for a total of $658.5 million under the Paycheck Protection Program (PPP) as of April 16. In total, the loan count for eligible businesses across the U.S. mainland and its territories totaled 1.7 million, representing […]
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