In a recent meeting of the Cámara de Representantes in Puerto Rico, lawmakers discussed a proposed measure aimed at supporting the cooperative sector, which plays a vital role in the local economy. The proposal suggests a funding allocation of $300,000 to assist new cooperatives in overcoming initial financial barriers.

During the session, representatives emphasized the importance of cooperatives in providing financial services to middle and lower-income communities, filling gaps left by traditional banks. One speaker highlighted the need for a more accessible funding model, suggesting that a lower amount could encourage the establishment of new cooperatives, thereby fostering economic growth.

Concerns were raised about the potential for the proposed funding amount to create obstacles for new cooperatives. Some representatives argued that while $300,000 could be beneficial, it might also deter new entrants into the cooperative landscape. A more moderate funding level, such as $150,000, was suggested as a possible alternative to ensure that new cooperatives can thrive without being overwhelmed by initial costs.

The discussion also included a breakdown of the estimated costs associated with starting a cooperative, which includes expenses for insurance, strategic planning, technology systems, and security measures. The total estimated startup costs were detailed, reinforcing the need for adequate funding to support these initiatives.

As the meeting concluded, representatives expressed a commitment to refining the proposal to better serve the cooperative sector, ensuring that it remains a viable option for those looking to contribute to Puerto Rico's economic recovery. The next steps will involve further discussions and adjustments to the funding proposal, with the aim of striking a balance between adequate support and accessibility for new cooperatives.