Non-profit organizations with incubation and/or acceleration programs may apply for grants from the Eastern Fund.
San Juan , Tuesday, October 1, 2024 | Oriental and the Puerto Rico Community Foundation (FCPR) announced today the call for the second round of grants from the Oriental Fund for non-profit organizations with incubation and acceleration programs for micro-entrepreneurs. This second round has a total investment for this year of $100 thousand. These funds will allow the selected organizations to grant seed capital to incubated or accelerated participants, thus contributing to the development of entrepreneurship in Puerto Rico.
Organizations interested in participating have from today, Tuesday, October 1, 2024 until November 8, 2024 to submit their online application, available at here or on the Request, located in the www.fcpr.org.
In the first round of grants, four grants were awarded to the following organizations: Incubadora Creativa, Nuestra Escuela, Municipal Alliance for Integrated Services, and Mujeres de Islas. Each received $25,000 to provide seed capital to participants ready to start businesses.
“At Oriental we are committed to contributing to the progress of our customers, employees, shareholders and the communities we serve. This commitment leads us to develop initiatives such as these that provide economic tools to micro-entrepreneurs. We know that small businesses are the engine of our economy, which is why the Oriental Commitment Fund through the Puerto Rico Community Foundation allows us to contribute to the growth of these microenterprises,” he said. Maritza Arizmendi, Chief Financial Officer of Oriental.
Arizmendi explained that this effort is part of the Corporate Social Responsibility plan. Oriental's commitment as a brand is to support organizations that seek the welfare and growth of communities and businesses, on this occasion supporting small businesses that seek to develop or grow to positively impact the island's economy.
Organizations interested in participating must have a track record in incubation and/or acceleration programs and have active programs. In addition, they must have the capacity for the establishment and management of seed funds, as this will be considered in the evaluation process of the proposals.
“We are excited to celebrate this second call for grants from the Oriental Fund because it allows us to continue promoting community-based economic development. To date, the Fund's participating organizations are supporting approximately 28 microenterprises. We are also honored to be able to facilitate this philanthropic process for Oriental. president and chief executive officer of the FCPR, the Dr. Nelson I. Colón Tarrats.
FCPR currently manages more than 97 philanthropic funds established by donors who support, with donations or grants, a variety of social causes. For philanthropic advice and fund establishment, please write to fcpr@FCPR.org or call 787-721-1037. The FCPR also administers several programs focused on water access, renewable energy, racial and gender equity, and economic activation.