{"id":16810,"date":"2022-04-05T14:17:57","date_gmt":"2022-04-05T18:17:57","guid":{"rendered":"https:\/\/foundationforpuertorico.org\/?p=16810"},"modified":"2022-06-24T16:52:50","modified_gmt":"2022-06-24T20:52:50","slug":"sba-supports-small-businesses","status":"publish","type":"post","link":"https:\/\/foundationforpuertorico.org\/en\/sba-supports-small-businesses\/","title":{"rendered":"Foundation for Puerto Rico in partnership with the SBA supports small businesses in the northern region"},"content":{"rendered":"\t\t
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Foundation for Puerto Rico in partnership with the SBA supports small businesses in the northern region<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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April 5, 2022<\/a><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Through a grant awarded to FPR as part of the Community Navigators Pilot Program, both entities will be impacting close to 150 small businesses in Puerto Rico\u2019s northern region.<\/p>

San Juan, PR – Foundation for Puerto Rico (FPR), a nonprofit organization that promotes opportunities to transform and promote socio-economic development on the island, was awarded a $1,000,000 grant from the U.S. Small Business Administration (SBA) as part of the Community Navigators Pilot Program. The grant, awarded to 51 applicants nationally, is part of a $100 million initiative to provide funding to nonprofit organizations, state and local governments, universities and other entities, in partnership with the SBA, to support specific sectors of the business community as they assist in the economic recovery process.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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\u201cSmall business owners face some of the greatest challenges in history in the wake of the COVID-19 pandemic. As we persist through a recovery phase into a thriving phase, it is imperative that we reach out to as many small businesses as possible, from the disabled veteran small business owner in Florida to the rural farmer in Puerto Rico. Precisely, this is why we are here today. We have a strong and actionable commitment to the small business owners in Puerto Rico,\u201d said Mark Madrid, Associate Administrator of the SBA Office of Business Development<\/strong>. \u201cThe Community Navigator Pilot Program empowers 51 grantees that work with hundreds of local and trusted community organizations across the United States and Puerto Rico to connect small businesses to SBA and other critical resources to recover and thrive. As Administrator Guzman asserts, these trusted community-based organizations \u2018will tap into one-on-one, targeted support from programs designed to help them create jobs and drive innovation.\u201d<\/p>

The Community Navigators Pilot Program will help small businesses receive support and access to federal assistance programs that can help them recover, grow, and respond to the impacts of the COVID-19 pandemic. \u201cPresident Biden and SBA Administrator Guzman continue taking proactive steps to ensure a full and equitable recovery from COVID for our small businesses and entrepreneurs here in Puerto Rico and across the nation. The Community Navigators program, created by the President\u2019 American Rescue Plan Act, designated Puerto Rico as a hub and is bringing $1 million to the island. These funds will directly help our entrepreneurs, especially the smallest of the small, access vital federal funding programs and opportunities,\u201d said SBA Atlantic Regional Administrator Marlene Cintr\u00f3n, who oversees the federal agency\u2019s operations in Puerto Rico, the U.S. Virgen Islands, New York and New Jersey. \u201cThis visionary recovery effort will assist them to start, scale, and succeed in their communities,\u201d she added.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cWe are extremely excited about the launching of the Community Navigators Pilot Program in Puerto Rico. Our entrepreneurs have had to face great challenges in the past four years, and we have always sought to be by their side and support them on the road to recovery. The efforts of grantee organizations, such as Foundation for Puerto Rico, will promote equity in small business support by serving as connectors between business owners, available programs and the technical assistance resources they need to restart and grow their businesses\u201d added Josu\u00e9 E. Rivera, district director of the Small Business Administration for Puerto Rico and the Virgin Islands.<\/p>

SBA has implemented a \u201cHub and Spoke\u201d model, where one organization leads the coordination and execution of efforts in collaboration with a network of organizations and resources with close relationships with communities, forging and strengthening connections between business owners and federal, state and local resources. In the case of Puerto Rico, FPR will implement this program together with Colmena66, Centro para Emprendedores, INprende, Brands of Americas and Latino Economic Development Center, who will provide technical assistance and companionship using a tiered methodology.<\/p>

“As Community Navigators, we will implement an innovative business development model of sequential stages. As businesses progress through the program, entrepreneurs work on the different elements to optimize their businesses and access capital with the guidance of leaders within the entrepreneurial ecosystem,” explained Anneliz Oliver, FPR’s program manager. “Our goal is to provide the entrepreneur with comprehensive and all-encompassing assistance. We are confident that, together with this tremendous team of organizations, we will gear entrepreneurs and the northern region towards success.”<\/p>

Through this grant, FPR will provide training services, technical assistance, and access to resources to underserved small businesses in the northern region of the country, particularly the municipalities of Camuy, Hatillo, Arecibo, Barceloneta, Florida, Manat\u00ed, Toa Alta, Vega Alta, Vega Baja and Dorado.<\/p>

\u201cFor us it is an honor to have the opportunity to work with SBA and such important collaborators. We recognize SBA’s commitment to our small businesses and to the economic development of the island, and we thank them for the trust they have placed in our organization to implement the Community Navigators Pilot Program in Puerto Rico. Furthermore, we are very excited to continue working with entrepreneurs in the northern region. From our experience with other programs such as the Bottom-Up Destination Recovery Initiative, we are familiar with the region, including its strengths, areas of opportunity and needs. With this new program, we are confident that we will continue to contribute to their economic growth,\u201d said Alma Frontera, FPR’s Vice President of Operations and Programs.<\/p>

The program will run for two years and will impact close to 150 businesses in the aforementioned municipalities. FPR will open three calls for proposals during the months of February, July, and December of this year. The program consists of five stages or steps, starting with the creation of an in-depth analysis of each business, followed by support in the implementation of innovation strategies, creation of a business plan with a marketing strategy, implementation of digital commerce and training in credit, finance, and accounting. In addition, entrepreneurs will receive one-on-one support to apply for financing through products designed based on their realities. Each of these stages is led and executed by one of the organizations of the network, closing the gap in access to entrepreneurial resources for businesses in the northern region of the archipelago. \u00a0<\/p>

Those interested in obtaining more information, or wishing to be part of this program, can access https:\/\/a43.a93.myftpupload.com\/pulso\/<\/a> or send an e-mail to anneliz.oliver@foundationpr.org.<\/p>

About the U.S. Small Business Administration<\/strong><\/p>

The U.S. Small Business Administration makes the American dream of business ownership a reality.\u00a0As 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.\u00a0It 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<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

April 5, 2022 Through a grant awarded to FPR as part of the Community Navigators Pilot Program, both entities will be impacting close to 150 small businesses in Puerto Rico\u2019s northern region. 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