The U.S. Small Business Administration (SBA) has set up two sites in San Juan to guide and assist small and medium-sized businesses in Puerto Rico with applying for disaster loans over the economic losses caused by the drought, spokesperson Germán Hernández said. Hernández explained that the agency offers low-interest loans aimed at established businesses struggling to meet their financial obligations because of the drought.
"The idea is that this type of loan covers economic losses. Physical loss is what you can see from afar, but there is a loss that is intangible," he said. He described the intangible loss as occurring when a business begins to experience economic difficulties that keep it from meeting its usual financial commitments.
He also stressed that applying for this help costs merchants nothing. "We don’t charge anything," he said. Those interested can get in-person guidance at Plaza Las Américas and at the Fomento building in San Juan, or apply through the SBA’s official portal.