SBA awards $90K grant to Puerto Rico SBTDC to help underserved communities
August 13, 2021
The U.S. Small Business Administration bestowed a $90,297 grant to the Puerto Rico Small Business and Technology Development Centers to fund specialized training, mentoring, and technical assistance for research and development-focused small businesses under the Federal and State Technology (FAST) Partnership Program. “We’re pleased that Puerto Rico SBTDC has been selected to receive a Fiscal ’22 FAST award. FAST grants […]
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SBA to open Paycheck Protection Program direct forgiveness website
July 30, 2021
The US Small Business Administration will launch a streamlined Paycheck Protection Program forgiveness application website to allow some 6.5 million borrowers with PPP loans of $150,000 or less to apply for forgiveness directly through the SBA, it announced. On Aug. 4, the site will begin accepting applications from borrowers that have a PPP loan with […]
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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 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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Popular Inc. originated $2.1B in loans under SBA Paycheck Protection Program
June 16, 2021
Popular Inc. announced that, upon completion of the second round of the Paycheck Protection Program (PPP) on May 31, 2021, it had processed nearly 50,000 loans, originating $2.1 billion in both rounds of the program. Popular said during the second PPP round, which began on Jan. 19, it processed approximately 20,500 loans totaling $673 million […]
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SBA launches $100M ‘Community Navigator Pilot’ Program application
May 28, 2021
The U.S. Small Business Administration (SBA) announced today that it is accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach our nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as […]
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SBA’s PPP program runs out of funds before official deadline
May 14, 2021
The US Small Business Administration’s Paycheck Protection Program (PPP) has ended, as funding has run out more than two weeks before the program’s official May 31 deadline, sources have confirmed to News is my Business. Sources not authorized to speak publicly have confirmed the information that was first reported by The New York Times. According […]
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Approved PPP loans for Puerto Rico approach $500M mark
March 9, 2021
The US Small Business Administration’s Paycheck Protection Program has approved close to $500 million in loans in Puerto Rico and more than $36 million in the US Virgin Islands, the agency announced in its March 7, 2021 report. Moreover, the SBA has approved 12,154 PPP loans for businesses and nonprofits in Puerto Rico, a 10.9% […]
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Cidre urges Puerto Rico businesses to opt into 2nd round of SBA funding
February 3, 2021
Department of Economic Development and Commerce Secretary Manuel Cidre urged Puerto Rican businesses and self-employed individuals to participate in the second round of the U.S. Small Business Administration’s Paycheck Protection Program, which so far has approved $88.4 million in loans. In a report issued late Monday, the federal agency confirmed it has given its support […]
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SBA seeks to boost small business eligibility for federal loan, contracting programs
December 2, 2020
The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors. The federal agency’s proposed actions will increase small business eligibility across 70 different industries, opening them up to participation in the SBA’s robust […]
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Puerto Rico, USVI small businesses landed $618M+ in federal contracts in FY2019
August 14, 2020
The U.S. Small Business Administration announced that 2,067 small businesses in Puerto Rico and the U.S. Virgin Islands were awarded $618.8M in federal contracts during Fiscal Year 2019. The information is included in the agency’s Fiscal Year 2019 Small Business Federal Procurement Scorecard, which confirms that $132.9 billion in prime federal contracts — 26.5% of […]
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10 Puerto Rico co.’s secure SBA-backed PPP loans of between $5M-$10M
July 9, 2020
The U.S. Small Business Administration revealed it has guaranteed nearly 2,000 loans for between $150,000 and $10 million through its Payroll Protection Program in Puerto Rico, totaling a little more than $1 billion as of June 30. These loans are added to the nearly 36,000 SBA-backed loans of less than $150,000, which represent another $741.4 […]
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SBA backs $741M+ in PPP loans of up to $150K in Puerto Rico
July 7, 2020
The U.S. Small Business Administration and the U.S. Department of Treasury released Paycheck Protection Program Loan data that revealed that since the start of the program in April, local banks have processed some 35,896 loans for up to $150,000 totaling $741.4 million so far. The detailed loan-level data for Puerto Rico shows that more than […]
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SBA has guaranteed $1.8B in payroll protection loans in Puerto Rico
June 30, 2020
The U.S. Small Business Administration has guaranteed 36,417 in loans totaling $1.8 billion under the Payroll Protection Program, for which it will accept applications 11:59:59 p.m. tonight, the agency confirmed. The June 30 deadline was provided to the PPP by the CARES Act under the “covered period,” the agency added. The most recent PPP Report, […]
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