DDEC to Disburse About $1 Million for Small Business Recovery

Today begins the disbursement of Capitalization Funds from the Labor Development Program of the Department of Economic Development and Commerce (DDEC by its Spanish acronym), to meet the needs of small businesses, whose companies were affected by the passages of hurricanes Irma and María in 2017, announced DDEC Secretary Manuel A. Laboy Rivera. “Some 206 small businesses will receive money to meet various business needs. For this reason, the DDEC Labor Development Program has approximately $926,500 committed, out of a total of $2.5 million allocated to boost the recovery of these businesses,” said Laboy, who added that these funds were allocated by the National Dislocated Workers Grant of the U.S. Department of Labor.