EDB announces financing for INVID expansion
SAN JUAN – Internet Vision Development (INVID) has signed a financing agreement with the Puerto Rico Economic Development Bank (EDB), which will allow it to double its client base at the local level and export its services outside of Puerto Rico.
This was announced by BDE President Luis Burdiel alongside INVID President Alberto Lugo Gómez in a press conference Wednesday.
“The Economic Development Bank has stopped being a traditional financial institution to become the best ally of our entrepreneurs. Promoting the development of our clients, we boost the economy of Puerto Rico. INVID is an emblematic example of one of the priority sectors for us, which is high technology, in tune with the Plan for Puerto Rico of Dr. Ricardo Rosselló,” Burdiel said.
The executive announced that the BDE has granted INVID a $350,000 line of credit and a $27,000 loan to acquire equipment. The financing will facilitate the expansion of operations that include occupying 4,000 square feet of office space in BDE headquarters and exporting its technology services. At the same time, INVID’s management projects that as part of the expansion, it will increase its workforce by 50%, from 20 employees to at least 30.
INVID is a Puerto Rican company that was founded a decade ago. It is certified by Microsoft as Gold Partner and has stood out for its use of the SharePoint platform. The first technological solutions developed by the company were for clients in the banking sector such as Evertec and Firstbank. Then the company set its sights on the healthcare industry, serving clients such as MMM and MCS. Among its services are programming, mobile applications, corporate portals and intranets, and other consulting services.