The Puerto Rico of our dreams is within our reach.

His business is the first and only one in Puerto Rico that distributes innovative handbags and other accessories made from sustainably harvested cork. At first it was a challenge to convince people that these were high-quality products, because people normally associate cork with wine bottles and nothing else. Despite that, Morgan promptly started to move the product, making outstanding sales in festivals and major events in Puerto Rico. After seeing his huge success during these initial months, he decided to bet on himself and his business and invested all of his savings and earnings in new merchandise. Unfortunately, just days after his big investment, the COVID-19 pandemic hit the island and caused a complete lockdown – shutting down all events and malls island wide. This left Morgan with no liquid assets, no source of income and a house full of products that did not have a point of sale. Desperate, he turned to sell his products on the streets or wherever he could but was understandably worried about the image his brand would now portray. He really wanted to maintain his brand’s high-end look but was struggling to make ends meet.  

Although Morgan was able to open a store in a prominent northern region mall once social distancing measures were dialed down, he was still worried about his venture’s future. 2021 was a year in which both people and small businesses received financial relief aid, which allowed clients to continue buying his products, allowing his business to stay afloat. He anticipated that 2022 would be different, as financial aid became less available. He desperately needed entrepreneurial training to ensure that his business could bounce back and continue growing. 

When Morgan entered SBA’s community navigator pilot program in Puerto Rico, PULSO, he confessed he was very skeptical about the training he was going to receive, worried they would be a waste of time. His worries and skepticism faded away as soon as he began his first stage of the program, with spoke Colmena66. He described this as an enlightening moment that set the tone for the rest of this journey. During this stage Morgan was provided with a roadmap called “Tu Camino Empresarial” (Your entrepreneurial roadmap), which clearly detailed trails of business support programs and organizations that could help entrepreneurs and SME’s in establishing and growing their business, no matter what stage they were in. Morgan explained how he shifted to a more optimistic outlook, feeling that he was beginning to understand that he was not alone in this journey. Following the program’s second stage, “Business 101” led by spoke Centro para Emprendedores, Morgan was surprised at how mentors explained typically complex terms in ways that were easier for him to understand and apply to his business. The program’s third stage led by spoke INprende allowed him to better understand who his target client was, and that his current location may not be the place where they would typically go shopping, making him reconsider his point of sale. N’Corcho also benefited from the manual that this stage provided to improve his business plan, making it easier to plan ahead and make future projections. In addition to this stage, he also benefited greatly from the tools that spoke Brands of Americas provided him during the “Marketing and Digital Presence” stage, which helped him develop a more structured plan towards gaining more brand recognition in the Puerto Rican market. He also acknowledged that his social media skills received a major boost and that this, combined with his plans to expand, will duplicate sales and increase brand recognition in Puerto Rico.    

Morgan explains that following the program’s services, he now feels more confident about N’Corcho’s future, especially now that he has developed his support network with PULSO’s mentors and peers. After going through most of the program’s curriculum, Morgan was ready to apply for financing to implement his plans to expand based on his newfound knowledge obtained in PULSO. With the help of the spoke Latino Economic Development Center (LEDC), Morgan was able to structure his business’ finances and work on his loan readiness. LEDC was also able to guide Morgan through his loan application, which was ultimately approved for $45,000.  

After months of only having one point of sale and one part-time employee, Morgan is set to open a second location in a mall with higher traffic, recruiting 3 additional employees starting December 1st, 2022. In addition to that, Morgan was finally approved to receive a $45k loan thanks to the guidance from Latino Economic Development Center, the organization that led PULSO’s last stage. Morgan expresses immense gratitude for the support he has received from the CNPP consortium, insisting that given the chance, he would do it all over again.