ASORE & EDB sign pact to facilitate financing for restaurants

Puerto Rico Restaurant Association President Sonia Navarro González and Economic Development Bank President Josué Rivera Castro

By THE STAR STAFF

The Puerto Rico Restaurant Association (ASORE by its acronym in Spanish) and the Economic Development Bank for Puerto Rico (EDB) signed a collaborative agreement Tuesday to facilitate access to financing options, business guidance, and growth capital for food and beverage businesses on the island.

“The restaurant sector is a major driver of economic activity, job creation, and entrepreneurship in Puerto Rico,” EDB President Josué Rivera Castro said in a written statement. “With this collaborative agreement, the EDB reaffirms its commitment to facilitating access to capital and supporting entrepreneurs with financial tools that allow them to grow, expand, and operate sustainably on the island.”

The signing of the memorandum took place during the presentation of the 2026 Projections economic report and the swearing-in of the new ASORE board of directors.

The agreement stipulates that the ASORE will refer members interested in financing to the EDB, while the institution will offer financial guidance, credit evaluation, and access to loans and lines of credit, subject to current requirements.

“This alliance represents a firm step toward our commitment to providing our members with real tools so they can develop their businesses, create jobs, and contribute even more to Puerto Rico’s economic development,” ASORE President Sonia Navarro González said.

It was reported that the EDB has granted more than $5.3 million in financing to 29 businesses linked to the restaurant industry for operational expansion, infrastructure improvements, and equipment acquisition.