EDB and PRMA Reach Agreement to Help Businesses
Offering Capital for Manufacturers to Expand and Foster Exports
The Economic Development Bank (EDB) and the Puerto Rico Manufacturer’s Association (PRMA) recently signed a collaborative agreement, dubbed “Alliance for the Economic Development of Puerto Rican Industry and Commerce,” to contribute their resources in favor of small and medium-sized enterprises (SMEs) on the island. The announcement was made by EDB President Luis Alemañy González and PRMA Executive Vice President Yandia Pérez.
“In its role of providing accessible, diligent and efficient financial alternatives and integrated services to small and medium-sized entrepreneurs, the EDB has the economic and human resources to evaluate, according to the Bank’s credit policies, the financing needs of the PRMA’s business partners,” Alemañy said. “Through this alliance, the EDB is committed in offering the local SMEs an exclusive financing product with terms and conditions and competitive interest, to promote startups, exports and other similar activities.
We are taking into consideration the challenges faced with regard to the supply chain, global impact due to the pandemic, instability due to the conflict between Russia and Ukraine, among others. However, this product will seek to support this economic sector with access to capital to address these challenges.”
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