Press release generated by Oriental Bank
San Juan, Puerto Rico As part of its commitment to support small businesses on the island, Oriental presented four grants to non-profit organizations with incubation programs that participated in the Oriental Fund's call for proposals. This grant is part of the first round of the Oriental Fund's grantmaking with the Puerto Rico Community Foundation (PRCF).
“In keeping with our mission to help our clients, employees, shareholders and the communities we serve, we established this Fund at FCPR so that organizations can support and strengthen these small business owners in their entrepreneurial process and achieve their goals. We know how important it is for them to receive seed capital to develop their businesses and that is why we are here. Not only will we provide the donation, but we are also committed to supporting them with expert mentoring and financial education,” he said. Idalis Montalvo, Marketing and Public Relations Director of Oriental.
“We are very pleased to be a philanthropic partner of Oriental Bank in this process of strengthening and promoting local businesses through the organizations that are incubating them. The Fund, which aims to generate seed capital for these micro-entrepreneurs, will allow them to achieve their goals. Undoubtedly, entrepreneurship is the key to the development of economic activity in our communities,” said Mr. Oriental Bank's President. Dr. Nelson I. Colón Tarrats, president and chief executive officer of the FCPR.
Each organization received a grant of $25,000 so that they can provide seed capital to individuals participating in their incubation and acceleration programs who are ready to start their business.
