The pandemic devasted small- and medium-sized businesses across the United States, and those in Puerto Rico were no exception. For instance, the Puerto Rican restaurant industry alone lost $398 million in sales during 2020. Even with lockdowns and restrictions now lifting, many businesses are still feeling the financial ripple effects of closures and diminished revenues, […]
SPONSORED POST Popular announced today the launch of a new digital platform where small business owners can apply for loans and lines of credit in an agile and convenient way. The platform includes an innovative, secure system designed so that customers can manage and check the status of their application online at any time, simplifying […]
There is a popular song in the Caribbean written by King Obstinate titled: “How Will Santa Get Here?” The proposed solution? “There is no reindeer in my country. He’ll have to borrow de neighbor’s donkey.” These themes of getting creative and leveraging community resources are the perfect segue for our article. The people of the […]
MCS recently launched its “There’s an MCS health plan for everyone” campaign that highlights all the products the company offers for individuals and small businesses. With direct and group health plans, MCS has a variety of options for students, employees without health plan benefits, self-employed professionals, and specific plans for small and medium-sized businesses. MCS […]
Puerto Rico-based e-3 Consulting — a firm dedicated to helping small and medium business owners manage their warehouses, as well as their financial services by implementing technology — unveiled Allec, an online system to help that segment keep track of those operational aspects. The system required a $300,000 investment to develop and launch, said Alberto […]
Owners of small and medium-sized businesses in Puerto Rico that were affected by Hurricanes Irma and María in 2017 may continue applying for help available through the Small Business Financing Program, under the Community Development Block Grant (CDBG) Program. Puerto Rico Housing Department Secretary William Rodriguez, said so far, the program has disbursed $24.5 million […]
Puerto Rico’s small- and mid-sized businesses (SME’s) looking to grow their operations may be eligible for as much as $100,000 in seed funding from a number of programs under the Department of Economic Development and Commerce (DDEC, in Spanish). During a roundtable discussion to mark small business month, the agency brought together five companies — […]
The Puerto Rico Federal Contracting Center (FeCC) under the Department of Economic Development and Commerce (DDEC, in Spanish) will host a virtual workshop titled “How to sell products and services to Ft. Buchanan,” the first in a series of Federal Matchmaking 2021 events. The series is a cycle of business roundtables and workshops that seek […]
San Juan Mayor Miguel Romero unveiled details of the newly created Capital Entrepreneurship Program, through which the municipality seek to help create and expand local business in Río Piedras, Santurce, Condado and Old San Juan through incentives. The initiative will establish agreements with private businesses to support existing merchants and incentivize new entrepreneurs, he said […]
People around the world have lost their jobs due to the COVID-19 pandemic, and while the government has helped in some ways, it is not enough for some families. Even young college students need money to finance their studies, but finding a job is not that easy to achieve anymore. And so, while stuck at […]
Aware that this hurricane season creates a new challenge for small businesses, which are also struggling with a global pandemic, the Puerto Rico Small Business and Technology Development Center is calling on small businesses to prepare their contingency plan for business continuity. Ricardo Martínez, executive director of the nonprofit based at the InterAmerican University of […]
The business interruption to companies in Puerto Rico and the world has prompted Puerto Rican law firm Meléndez Torres Law PSC, to offer free help small and medium-sized as well as nonprofit organizations in accessing funds from the U.S. Small Business Administration. Managing Partner Sonia Torres said the firm’s legal team has made itself available […]
The Caguas municipal government announced the availability of funds for emergency loans to the town’s small businesses, said Central Eastern Development Bank Executive Director Adrián Muñiz-Mariani. The entity known as BADECO for its initials in Spanish will be responsible for granting commercial emergency loans to city business owners, as part of a series of municipal […]
Looking to support Puerto Rico’s small and medium-sized businesses, financial institution Oriental unveiled another initiative within the “Relief Program for Businesses” for commercial customers that have been economically affected by the coronavirus COVID-19 shutdown. The Relief Program for Businesses includes several loans alternatives, including an option through the U.S. Small Business Administration to cover payroll […]
The U.S. Small Business Administration and the U.S. Department of Treasury announced the start of the $349 billion Paycheck Protection Program, to provide relief to millions of small businesses so they can sustain their businesses and keep their workers employed. “This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our […]
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