Small Business Funding in Puerto Rico
99.7% of all businesses in Puerto Rico are small businesses, accounting for $60.6B in total exports. No matter what niche you operate in, you can strengthen your business and continue to grow with up to $500,000 in funding from Greenbox Capital® in a little as 24 hours.
Fast, Easy Small Business Funding in Puerto Rico
Businesses in Puerto Rico face a number of unique challenges that make it difficult to access the small business funding they need to grow, such as economic factors, lack of access to capital, labor shortages, and natural disasters.
Over ¾ of small businesses in Puerto Rico reported losses and ongoing challenges related to Hurricane Maria in 2017, including decreased revenue, increased expenses, and difficulty accessing insurance. Special funding and grant programs have dried up, but business confidence remains high despite these challenges and many small businesses are planning to grow and expand.
Like all regions, small businesses in Puerto Rico need working capital to rebuild and grow. With a simpler application, faster turnaround, and flexible approval requirements, Greenbox Capital can fund more small businesses in Puerto Rico in as little as one business day. We offer a variety of small business funding options in Puerto Rico, from as little as $3,000 up to $500,000. We fund all industries, including manufacturing, service businesses, tourism businesses, retail stores, medical practices, law firms, and more.
How To Use Small Business Funding in Puerto Rico
There are no restrictions on how you can use small business funding in Puerto Rico. Alternative small business funding is most ideal for supporting growth initiatives that will increase your business’s revenue, such as:
- Hiring staff so you can expand services and take on more business
- Purchasing new equipment or technology
- Renovating or remodeling your space to offer a more comfortable environment
- Expanding your business or acquiring another business
- Building a new website or expanding your existing online presence
- Purchasing raw materials or inventory in bulk at lower prices
- Investing in continuing education and training
- Energizing your marketing and advertising to bring in more business
Sometimes, businesses in Puerto Rico may also need a quick infusion of working capital to help meet the unique challenges of their field, such as:
- High cost of equipment or raw materials
- Skilled labor shortages and employee turnover
- Meeting changing client and customer needs
- Standing out from competition in your niche
- High cost of repairing appliances or equipment
How Small Business Funding in Puerto Rico Works
Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.
A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.
Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.
Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.
Will You Qualify for Small Business Funding in Puerto Rico?
The best candidates for small business funding in Puerto Rico are prepared with a firm understanding of how much funding they need, what they plan to do with it, and how they plan to repay it.
Exact qualification requirements depend on the type of funding you are seeking. Approval for alternative small business funding from Greenbox Capital isn’t based solely on your credit score or financial history. Instead, we focus on the overall health of your practice, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Business Funding in Puerto Rico Q&A
Is alternative small business funding suitable for expanding my small business in Puerto Rico?
Yes, an alternative loan is ideal for expanding small businesses in Puerto Rico. Contact one of our knowledgeable Funding Advisors to discuss an option that is right for you.
What do I need to do to qualify for a small business loan?
We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.