Our focus on Community Development is what enables us to completely fulfill our mission; it is the reason for the Foundation’s social investment and for which we promote the social investment of our donors. We have two programmatic areas that support community development: community economic development and development of social interest housing.

COMMUNITY ECONOMIC DEVELOPMENT (CED)

Since 1997, the Community Economic Development program has supported more than 30 community-based organizations in Puerto Rico. Through a total social investment of $2.5 million, we have generated 175 jobs, as well as $12 million in loans with a return of $10 per dollar invested.

Over the years, the Community Economic Development program has evolved to support the sustainable development of low- and moderate-income communities, through the training and financial support of community organizations.

Currently, this work is being carried out by four community organizations that serve as support centers for business development and as a source of employment in their respective communities.

Participating organizations:

Corporation for the Economic Development of Ceiba, CD (Spanish acronym CHEDCO)

CHEDCO, a nonprofit organization in the town of Ceiba with 19 years of experience, develops programs for the acquisition and renovation of housing. It also provides consultations for house buying, orientations on the issue of mortgage delinquency, and trainings in the planning and management of businesses. Finally, it facilitates access to funds for small businesses. CHEDCO’s services are extended to neighboring municipalities, including Vieques and Culebra. It has certifications from: the Community Housing Development Organization (CHDO), the Community Development Corporation (CDC), and the Housing and Financial Education Consulting Agency. In January, 2004, the organization obtained a license from the Agency of Loan Brokerage and Financial Intermediation. [top]

CHEDCO’s economic development project is composed of housing programs and programs for training and technical assistance in business development. The housing programs are divided primarily into consulting for first-time buyers and mortgage offenders, renovation of housing units, and construction of social interest housing projects. Some of the courses offered are:

Education for Home Purchasing; Importance of, and Savings with, the Acquisition of Capital Assets; and How to Avoid the Loss of Housing. The business development programs include training for people who wish to start up businesses, technical assistance in planning, and referrals for funding. CHEDCO has alliances with several organizations which can provide participants with access to capital (SBDC, SBA, Ceiba Association of Merchants, and United Merchants of Camuy). [top]

Cabo Rojo Committee for Health and the Environment, Inc. (Spanish acronym CPSA)

CPSA is a nonprofit organization in Cabo Rojo with 16 years of experience. Its efforts are focused on conserving natural resources and health through educational and civic activities, and by supporting initiatives that protect the environment and foster sustainable economic development. Since 1998, CPSA has focused its efforts and resources on conducting activities for economic and business development in low- and moderate-income communities in the southwestern region of Puerto Rico.

CPSA offers short courses, trainings, and technical assistance in business planning, management, and administration, and in access to funding. It works primarily with women heads of household who start up home businesses. Its area of impact covers seven towns: Hormigueros, Mayagüez, Lajas, San Germán, Sabana Grande, Guánica, and Cabo Rojo. In addition, CPSA offers support for organizations who wish to start up and develop projects of self-management and economic development. It also contributes to the development of leadership in community organizations through the Southeast Ecotourism Circuit project. Its principal initiatives for the year 2004-2005 are to increase community assets through the Las Salinas Interpretive Center in Cabo Rojo and the Isla de Ratones Restoration Project. [top]

United Merchants for the Community Development of Camuy, Inc.

United Merchants for the Community Development of Camuy is a nonprofit organization in Camuy with 19 years of experience. Its efforts are primarily focused on strengthening the businesses in Camuy’s town center, by offering them technical assistance, access to capital through its own loan fund, and other projects that benefit merchants and the community. Over the years, its services have spread to other areas of Camuy and to neighboring towns. Currently, it is a Community Development Financial Institution (CDFI) and its loan program, working collaboratively with the financial institution, has boosted the economy by generating $3.7 million and 241 jobs. It also has a loan portfolio of $1.0 million for small businesses in rural areas.

In addition to funding, the United Merchants offer technical assistance to new merchants, including business planning, management, finances, and accounting. They offer follow up and ongoing support to the participants of their loan portfolio, especially those who have payment difficulties. The organization offers a fund to be used as a credit line for micro businesses that have difficulty seeking financial services at traditional banks. The majority of the loans are provided in participation with private banks. [top]

Program of Communal Education, Delivery, and Services, Inc. (Spanish acronym PECES)

PECES is a nonprofit organization in Humacao, based in barrio Punta Santiago, with 19 years of experience. Its efforts are focused on the development of programs for youth, children, and adults, through high school education, business education, vocational consulting, tutoring, prevention work, and youth leadership. Since its beginnings, PECES has used education as a mechanism of empowerment to develop community leadership at all levels. Today PECES has more than 50 employees, the vast majority of whom are residents of barrio Punta Santiago. The economic development program offers technical assistance and business training to facilitate planning and funding for new businesses. In addition, vocational consultation is offered to increase participants’ employability.

The PECES economic development project comprises two dimensions: organizational strengthening and community services. Organizational strengthening helps organizations obtain certification as financial intermediaries, obtain CDFI certification, establish loan programs, train as consultants for first time home buyers, and explore the development of housing projects. The community services dimension of PECES supports the development of an incubator of businesses and small enterprises at the Humacao Nature Reserve, and it will continue offering technical assistance and training in the business arena, facilitating the establishment of new business and strengthening existing ones.

These organizations receive technical assistance from Specialized Consultants and from the Mayagüez Center of Economic Development, UPR. [top]