  We present a complete and consistent exposition of the regularization,
renormalization, and resummation procedures in the setup of having a
contraction and then non-singular bounce followed by inflation with a sharp
transition from slow-roll (SR) to ultra-slow roll (USR) phase for generating
primordial black holes (PBHs). We consider following an effective field theory
(EFT) approach and study the quantum loop corrections to the power spectrum
from each phase. We demonstrate the complete removal of quadratic UV
divergences after renormalization and softened logarithmic IR divergences after
resummation and illustrate the scheme-independent nature of our renormalization
approach. We further show that the addition of a contracting and bouncing phase
allows us to successfully generate PBHs of solar-mass order, $M_{\rm PBH}\sim
{\cal O}(M_{\odot})$, by achieving the minimum e-folds during inflation to be
$\Delta N_{\rm Total}\sim {\cal O}(60)$ and in this process successfully
evading the strict no-go theorem. We notice that varying the effective sound
speed between $0.88\leq c_{s}\leq 1$, allows the peak spectrum amplitude to lie
within $10^{-3}\leq A \leq 10^{-2}$, indicating that causality and unitarity
remain protected in the theory. We analyse PBHs in the extremely small, $M_{\rm
PBH}\sim {\cal O}(10^{-33}-10^{-27})M_{\odot}$, and the large, $M_{\rm PBH}\sim
{\cal O}(10^{-6}-10^{-1})M_{\odot}$, mass limits and confront the PBH abundance
results with the latest microlensing constraints. We also study the
cosmological beta functions across all phases and find their interpretation
consistent in the context of bouncing and inflationary scenarios while
satisfying the pivot scale normalization requirement. Further, we estimate the
spectral distortion effects and shed light on controlling PBH overproduction.
