San Juan mayor launches business incentive to tackle high energy costs
- The San Juan Daily Star
- 8 hours ago
- 2 min read
By THE STAR STAFF
San Juan Mayor Miguel Romero Lugo announced on Wednesday the availability of the “Capital Entrepreneurship” program, an initiative designed to support small and midsize businesses facing the challenges of high energy costs.
The program aims to strengthen the stability of local businesses, encourage private investment and contribute to the city’s economic development.
“Business owners are the driving force behind our communities; they create opportunities and bring life to the city,” Romero Lugo said. “With this incentive, we want them to feel the direct support of their municipal government, real support to continue operating and growing.”
The program, funded by federal Community Development Block Grant (CDBG) funds, provides municipal resources to support the essential operations and expenses of San Juan businesses. The first $3,000 of the assistance comes from CDBG funds, and the municipality can supplement that amount according to needs and resource availability. Although utility payment applications will be prioritized during the holiday season, the funds can also be used for other permitted purposes.
Recipients must submit evidence through LUMA Energy invoices and canceled checks that demonstrate the full use of the assistance provided. Funding allocation is subject to availability, evaluation and need at the time of eligibility determination, and applies to only one business per owner or corporation.
New businesses with 11 months or less of operation and existing businesses that meet the following criteria are eligible to apply for the incentive: they must be located in San Juan, have a Single Permit or Municipal License, have 10 or fewer employees, including the owner, and demonstrate that at least one employee or the owner is low-income. Existing businesses must not exceed $250,000 in annual sales volume.
Applications must be submitted online at emprendimientocapital.sanjuan.pr, including a business plan or explanatory memorandum, a business description, the type of organization (corporation, LLC or DBA), physical address, permits, a lease agreement with a minimum term of one year, and the merchant registration.