Economic Development Bank for Puerto Rico - Written Agreements - CDBG-DR/MIT Recovery Funds

Name of Partner / Subrecipient: Economic Development Bank for Puerto Rico
Assignment: DR
Program / Division: Small Business Financing Program
DUNS No.: 189854086
Execution Date: 03/22/2020
End Date: 03/22/2022
Total Amount: $25,000,000.00
Brief Description: The Puerto Rico Department of Housing (PRDOH) has a Subrecipient Ageement with the Economic Development Bank for Puerto Rico (BDE) to lead in the design and implementation of the Small Business Financing Program ("the Program" or "SBF Program"). The focus of the Program is to provide Recovery Grants to small businesses and microenterprises, and Recovery and Expansion Loans for more established Small Businesses.

AMENDMENTS

Execution Date: 03/22/2024
End Date: 09/22/2025
Total Amount: $30,000,000.00
CDBG-DR Funds: $30,000,000.00
Brief Description: In this Amendment F, the Parties acknowledge and agree that it is necessary to extend the End Term of the Agreement to September 22, 2025. Also, the budget is being increased by thirty million dollars ($30,000,000.00) for a new Total Authorized Budget of two hundred eighty-five million dollars ($285,000,000.00).

Execution Date: 06/13/2023
End Date: 03/22/2024
Total Amount: $75,000,000.00
CDBG-DR Funds: $75,000,000.00
Brief Description: This amendment E serves the purpose of modifying and amending certain terms and conditions, including an increase the budget of the Agreement.

Execution Date: 12/12/2022
End Date: 03/22/2024
Total Amount: $52,100,000.00
CDBG-DR Funds: $52,100,000.00
Brief Description: This amendment D contains an increase in the total budget of the Contract.

Execution Date: 03/22/2022
End Date: 03/22/2024
Total Amount: N/A
CDBG-DR Funds: N/A
Brief Description: The Parties acknowledge and agree that this Amendment C entails a modification of the period of performance of the Agreement to a forty-eight (48) months term. Modified or updated versions of the Exhibit A, Exhibit B, Exhibit C, Exhibit D, and Exhibit H are also included in this Amendment C.

Execution Date: 11/10/2021
End Date: 03/22/2022
Total Amount: $73,500,000.00
CDBG-DR Funds: $73,500,000.00
Brief Description: This amendment is intended to modify Exhibit A, B, C, D, E, F, G and H. This Amendment also increases the total amount of the Subrecipient Agreement by an additional $73,500,000.00.

Execution Date: 05/03/2021
End Date: 03/22/2022
Total Amount: $29,400,000.00
CDBG-DR Funds: $29,400,000.00
Brief Description: The parties acknowledge and agree that this Amendment A is not intended to affect nor does it constitute an extinctive novation of the obligations of the parties under the Agreement, but it is rather a modification and amendment of certain terms and conditions under the Agreement, as well as the Exhibit A, Exhibit B, Exhibit C, Exhibit D, and Exhibit E attached to the aforementioned Agreement.

The Puerto Rico Department of Housing and the CDBG-DR/MIT Program does not discriminate on the basis of race, color, national origin, sex, age, religion, sexual orientation, gender identity or disability. Reasonable accommodations, including assistance and services, are provided upon request to allow a person with a disability an equal opportunity to participate in all programs and activities. The Puerto Rico Department of Housing continually strives to make this web platform easy to navigate for screen readers, as well as other accessibility-related functionality, in addition to providing access to documents. To request assistance with this website or copy of a specific document, you may contact .
Last update: 11-01-2024 EN Bottom disclaimer