Following Hurricane Fiona, small and midsize businesses (SMBs) will receive financial assistance for damages caused by the storm.
Under a recent administrative order issued by the Secretary of the Puerto Rico Department of Economic Development and Commerce (DDEC), various businesses around the island qualify to receive incentives of up to $50,000 per applicant.
Activities eligible for use of the incentives:
1. Purchase of electricity generators or solar panel systems (maximum of $50,000).
2. Acquiring or repairing equipment damaged by the emergency (maximum of $50,000).
3. Acquiring or mitigating loss of materials (maximum of $10,000).
4. Contribution or early payment of emergency loans granted by the Banco de Desarrollo Económico to ensure the continuation of business operations (maximum of $5,0000).
5. Covering 50% of one month's operating expenses up to a maximum of $10,000. Operating expenses under this incentive include payroll, water, electricity and rent.
6. Repairing structural damage caused by the storm (maximum of $50,000).
For more information about this assistance and how to apply, you can visit refuerzoeconomico.com or contact the customer service line at 787-758-4747, ext. 3378.
This content was translated with the assistance of Artificial Intelligence (AI).
