Josué Rivera Castro, president of Puerto Rico’s Economic Development Bank (BDE), highlighted on Wednesday, Veterans Day, the institution’s efforts to offer financing to former service members who want to start their own businesses in Puerto Rico, as a way to encourage them to stay on the island. Rivera Castro said the bank has already backed veteran-led ventures in sectors such as restaurants, pizzerias, construction and manufacturing.
He said the goal is to help those who served in the Armed Forces build a new professional chapter through entrepreneurship and reach economic stability for their families. The BDE has financed more than $40 million so far in 2026 through its business programs. He also mentioned the receipt of approximately $39 million in federal Treasury Department funds and the expectation of receiving a similar amount next year to keep expanding financing opportunities for entrepreneurs.
As part of these efforts, the bank is promoting the Legado de Honor (Legacy of Honor) program, announced on Monday, which offers loans of up to $500,000 and credit lines of up to $50,000 for eligible veterans and family members. Rivera Castro said the initiative will be accompanied by agreements with business support organizations to provide free training, technical assistance and guidance in preparing business plans.