Portfolio Partner Profile
Lift Puerto Rico Impact Fund
The Lift Puerto Rico Business Impact Fund (Lift Fund) aims to help stabilize businesses post Hurricane Maria, thereby saving jobs, stimulating employment, and stemming outward migration from the island. The Lift Fund co-invests in loans originated by Acrecent Financial Corporation, an organization that provides timely access to capital to small and medium sized enterprises (SMEs) in Puerto Rico. Acrecent has consistently made credit accessible to local SMEs since its founding in 2004, despite a global financial crisis, a protracted economic recession in Puerto Rico, the ongoing Puerto Rico government debt-restructuring, and hurricanes Irma and Maria. Acrecent’s customers provide much-needed services to the population of Puerto Rico, including medical services, construction, education, and off-grid energy solutions.
Since the launch of the Lift Fund in 2018, it has helped create/maintain over 16,700 jobs in Puerto Rico by co-investing with Acrecent in financing facilities for over 80 businesses in 10 different industries and deploying over $31 million in loans and leases to SMB’s in Puerto Rico.
See some pictures of business Lift has helped grow and get started in Puerto Rico below:
Bayamon Medical Center (Financed Improvements and Equipment)
Cupeyville School (Financed New Computers for Remote Learning)
Alonso y Carus Iron Works Inc. (Financed Equipment for Iron Structure Manufacturing)