Saturday, September 26, 2020

Puerto Rico Gov’t: Period for Quake-Affected Businesses to Request Disaster Aid Ends

By on February 12, 2020

DDEC Secretary Manuel A. Laboy Rivera visits Yauco (Courtesy)

SAN JUAN — Puerto Rico’s Economic Development and Commerce Department (DDEC by its Spanish initials) will disburse $2.5 million to 1,000 small businesses in the municipalities that are under the major disaster declaration following a series of recent earthquakes in the island’s southwestern region. DDEC Secretary Manuel A. Laboy Rivera made the announcement after the period to submit documents required for the assistance ended.
“The first 400 forms available for small businesses to apply for the $2,500 incentive were delivered in record time. Given the economic need for additional funds to reactivate commercial activity in these municipalities, the Board of the Industrial Development Company authorized an additional $1.5 million to serve another 600 small businesses. After collecting the required information from the business owners for several weeks, we conclude the first phase of receiving and validating documents. Our team is now carrying out the internal processes to disburse the obligated money,” Laboy Rivera explained.

The official added that the DDEC was identifying other aid to rescue the economy of the southwest and central area of ​​the island, which was affected by the earthquakes, “complying with the commitment of Gov. Wanda Vázquez Garced.”

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