News / Press Releases
Immediate Release: February 23, 2022
LEDC joins PULSO, a collaborative to help micro and small businesses in the Northern Region of Puerto Rico
The Latino Economic Development Center (LEDC) enlists in a collaboration led by the Foundation for Puerto Rico and financed by the U.S. Small Business Administration (SBA) known as PULSO to engage with micro and small business owners looking for financial guidance in the Northern Region of Puerto Rico.
PUERTO RICO – LEDC in conjunction with Colmena 66, Centro para Emprendedores, INprende, and Brands of America are all part of a collaboration led by the Foundation for Puerto Rico and financed by the U.S. Small Business Administration (SBA) to set out as Community Navigators for micro and small businesses located in the Northern Region of Puerto Rico.
The program called PULSO will engage with businesses in the visitor economy of Camuy, Hatillo, Arecibo, Barceloneta, Florida, Manati, Toa Alta, Vega Alta, Vega Baja, and Dorado.
The goal is to provide these ventures with a thorough business model, enhance existing business owners' financial literacy, and improve their capacity by introducing them to PULSO's innovative multi-stage system program. The main objective is to recruit at least 150 businesses in three separate cohorts from March 2022 through October 2023.
The innovative multi- ladder system involves support from collaborators during every step, notably motivating a practical business assessment, exploring innovation strategies within their business model and plans, supplying marketing guidance, credit counseling, and loan management and application.
LEDC's primary role in the program is to help these businesses in the municipalities previously mentioned better grasp their credit and finances while understanding their funding needs. Furthermore, LEDC will help owners gain access to traditional and non-traditional forms of capital.
A part of LEDC's role will be to provide workshops (e.g., bookkeeping, tax planning, accounting systems, others) and individual technical assistance sessions to help these businesses navigate/apply for financial benefits while taking advantage of SBA resources.
LEDC CEO Emi Reyes is excited to announce the organization's participation in this collaboration led by Foundation for Puerto Rico: "Our hope with PULSO is to help this active micro and small businesses in the Northern Region leverage existing resources. We believe that this innovative multi-stage system pilot program will set these businesses up for success and enhance the overall economic sustainability of Puerto Rico".
For further information, visit https://www.foundationpr.org/pulso
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About Latino Economic Development Center (LEDC)
The Latino Economic Development Center (LEDC) equips Latinos and other underserved communities in the Washington, D.C. Metropolitan area, Baltimore Metro area, and Puerto Rico with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable and start or expand small businesses.
About Foundation for Puerto Rico
Foundation for Puerto Rico (FPR) is a 501(c)(3) nonprofit that seeks to unleash Puerto Rico's potential in the global economy so more people can live, visit, work, and invest in the beautiful island of Puerto Rico. The foundation's targeted economic development and resilience programs work hand in hand with other community partners, providing resources, training, funding, and networks that improve the local economy from within Puerto Rico.
About the U.S. Small Business Administration (SBA)
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.