SBA grants $4.2M in Puerto Rico through Shuttered Venue Operator program
July 27, 2021
The U.S. Small Business Administration provided an update on the progress of its Shuttered Venue Operator program, confirming that as of July 26, it has approved 28 awards in Puerto Rico amounting to a little more than $4.2 million. The agency also confirmed it awarded one SVOG grant for $92,956 to a program participant in […]
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Puerto Rico businesses affected by ’20 storms, flooding still may apply for SBA loans
July 19, 2021
The US Small Business Administration is reminding small businesses and most private nonprofit organizations in Puerto Rico that Economic Injury Disaster Loans (EIDLs) are still available to anyone in the declared municipalities in Puerto Rico affected by severe storm and flooding on Sept. 13, 2020. The application deadline is Aug. 5 in the following adjacent […]
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SBA grants $69.2M in aid to 339 bars, restaurants in Puerto Rico
July 8, 2021
The U.S. Small Business Administration recently announced the end of the Restaurant Revitalization Fund (RRF) program, which awarded $69.2 million in payments to 339 bars and restaurants in Puerto Rico, the agency confirmed. There was a total of 2,396 applications from Puerto Rico establishments, which requested a little more than $419 million in funding. Over in the […]
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SBA grants $1.2M under Shuttered Venue Operators program in PR
July 5, 2021
The U.S. Small Business Administration updated the list of grant recipients in Puerto Rico under its Shuttered Venue Operators program, which as of June 28, included nine local businesses that have received a combined $1.2 million. The data shows that 2,390 grants have been awarded nationally totaling approximately $1.5 billion, with the average award size […]
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SBA awards $625K in Shuttered Venue Operators Grants to 5 Puerto Rico businesses
June 23, 2021
The U.S. Small Business Administration confirmed it has awarded $625,639 in Shuttered Venue Operators Grant program funding to five businesses in Puerto Rico. This grant provides emergency assistance for eligible venues affected by COVID-19. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a […]
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SBA unveils $28.6B Restaurant Revitalization Fund to help hard-hit sector
April 19, 2021
The U.S. Small Business Administration announced details on application requirements, eligibility, and a program guide for the $28.6 billion Restaurant Revitalization Fund (RFF), which seeks to help bring back jobs and revive one of the hardest-hit economic sectors since the start of the COVID-19 pandemic. The SBA will administer the funds to the most affected […]
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SBA to open application cycle for Shuttered Venue Operators Grants today
April 8, 2021
The U.S. Small Business Administration will officially open the Shuttered Venue Operators Grant (SVOG) application website at noon today for operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first […]
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SBA to Increase lending limit for COVID-19 Economic Injury Disaster Loans
March 25, 2021
The U.S. Small Business Administration is increasing the maximum amount small businesses and nonprofit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program, it announced. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from six months of economic injury with a […]
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Convention District to host financial assistance orientation for entertainment workers
March 22, 2021
Show promoters, artists, theater operators, among other entertainment industry professionals may qualify for financial assistance from the U.S. Small Business Administration, for which the Convention District Authority will be hosting an orientation session on how those who lost income due to COVID-19 may get aid. The orientation session will take place Mar. 24, at 9 […]
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SBA opens page for Shuttered Venue Operators Grant applications
March 22, 2021
The U.S. Small Business Administration is launching a splash page for the Shuttered Venue Operators Grant (SVOG) application page in anticipation of opening applications for the critical economic relief program on April 8, 2021. “Help is here for venue operators hit hard by the COVID-19 pandemic. The SBA has worked diligently to build the Shuttered Venue Operators Grant program […]
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Oriental expands access to PPP loans under new guidelines
March 3, 2021
Oriental announced it will expand access to loans for small and medium-sized businesses (SMEs) under the US Small Business Administration’s new guidelines for the Payroll Protection Program (PPP). Oriental has already awarded some $300 million in loans to more than 3,500 businesses between the first round and so far in the second round of this […]
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Colmena66 wins $10K from SBA’s Lab-to-Market competition
March 1, 2021
Colmena66, a San Juan-based based nonprofit that connects island entrepreneurs and small business owners to local and regional resource partners, was awarded $10,000 through the Lab-to-Market (L2M) Inclusive Innovation Ecosystem Prize Competition, sponsored jointly by the US Small Business Administration and the National Science and Technology Council. The nonprofit received the “Super Connector” award for its submission highlighting […]
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Biden administration implements changes in the Paycheck Protection Program
February 23, 2021
The U.S. Small Business Administration is making a number of temporary and permanent changes to the Paycheck Protection Program (PPP) to increase funding received by smaller businesses, including a 14-day period during which only businesses and nonprofits with fewer than 20 employees will be able to submit applications. The program’s exclusive period for smaller businesses […]
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SBA has approved $283.8M in PPP loans in Puerto Rico since Jan. 11
February 18, 2021
The U.S. Small Business Administration’s Paycheck Protection Program has approved $283.8 million in loans in Puerto Rico and another $171.2 million in the US Virgin Islands through the week of Feb. 15, it confirmed in a report. The second round of funding began on Jan. 11, and so far, participating local credit unions and banks […]
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SBA approves $171M in 2nd round of PPP loans in Puerto Rico so far
February 10, 2021
The number of loans that the U.S. Small Business Administration has approved so far through its second round of Paycheck Protection Program funding doubled in Puerto Rico to 4,740 during the week of Feb. 1-8, from the 2,595 OK’d the prior week. In its weekly update, SBA officials also confirmed that those applications approved so […]
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