Small Business Recovery
The extent of damage created by Hurricanes Irma and Maria, just 13 days apart, is believed to have affected all 45,099 private entities/businesses and 1,849 public administration units of Puerto Rico. Approximately 50% of the population lost power from the grid, and the extended time to restore electrical services made getting back to business as usual extraordinarily difficult for entities of every size.
Puerto Rico’s Department of Commerce and Economic Development (DDEC) estimated economic losses at a minimum of $20 billion, while Moody’s estimated economic losses as high as $40 billion. The Economic Recovery Support Function focused on delivering resources to employers, to help them survive and maintain their payrolls in the face of uncertainty and immense challenges.
Puerto Rico’s Department of Commerce and Economic Development (DDEC) estimated economic losses at a minimum of $20 billion, while Moody’s estimated economic losses as high as $40 billion. The Economic Recovery Support Function focused on delivering resources to employers, to help them survive and maintain their payrolls in the face of uncertainty and immense challenges.