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SBA and PathStone Enter Strategic Alliance to Further Small Business Creation in Underserved Areas

Release Date: 
Friday, June 27, 2014
Release Number: 
14-07
Contact: 
Angelique Adjutant (787) 766-5570

SAN JUAN, PR - The U.S. Small Business Administration and PathStone have entered a strategic alliance, to aid in fostering small business creation and economic development in various underserved regions of Puerto Rico.

“The SBA has a wide variety of programs, services and resources available to help start and grow small businesses,” said SBA District Director Yvette T. Collazo.  “By entering this strategic alliance with PathStone, we reiterate our commitment with Puerto Rico’s entrepreneurial sector, particularly with those communities in the central and southwestern regions that have not always found easy access to business opportunities.”

PathStone is a not-for-profit community development and human service organization providing services to low-income families and economically depressed communities. As part of their strategic alliance, SBA and PathStone will keep the other informed of programs and services available to small businesses, join in training and outreach activities, and work to expand knowledge of and access to small business resources and technical assistance.

Recently, the SBA extended PathStone’s existing Micro-Lender license to Puerto Rico, which will allow a greater number of entrepreneurs to meet their small business needs, such as working capital and inventory, among others. Locally, PathStone is focusing its Micro-Business efforts in the municipalities of Adjuntas, Guayanilla, Lares, Las Marías, Maricao, Sabana Grande, San Sebastián, Utuado and Yauco, which have traditionally been recognized as underserved areas in Puerto Rico.

By entering strategic alliances with various non-profit organizations and municipalities, SBA further develops working relationships to expand its reach to potential entrepreneurs and help strengthen and create small businesses. In addition to this strategic alliance with PathStone, the SBA holds alliances with Puerto Rico Trade and Export Company, University of Puerto Rico in Carolina, Puerto Rico Tourism Company, the municipalities of Coamo, Cayey and Peñuelas, Universidad del Turabo, Pontifical Catholic University of Puerto Rico, Technology Initiative of the Northeast (INTENE) and Desarrollo Integral del Sur, Inc. (DISUR).

Related State: 
Puerto Rico