Oriental grants $3.5M to Puerto Rico winemaker

Oriental Bank’s business loan portfolio totals $1.9 billion.

Oriental Bank’s business banking unit recently granted a $3.5 million loan to Bearco LLC (Bodegas Españolas Argentinas Corp.), one of the companies owned by CC1 Puerto Rico.

The company will use the financing to acquire and open a new plant in the municipality of Cidra to manufacture local wines, such as Capriccio and Hacienda Los Andes. The company will also offer packaging services to Fruteccia and Gallo brands. The company is aiming at tripling its sales this year.

“It is our responsibility to respond promptly and act as facilitators so that local companies can be successful in doing business”, said Elena Manrara, senior vice president and business banking director at Oriental.

Currently, Oriental Bank’s business loan portfolio totals $1.9 billion.

Detalles del autor

• Detalles del autor

Michelle Kantrow-Vázquez

Detalles del autor

Reportero de negocios con 30 años de experiencia escribiendo para periódicos semanales y diarios, así como para publicaciones especializadas en Puerto Rico. Entre mis antiguos empleadores se encuentran Caribbean Business, The San Juan Star y Puerto Rico Daily Sun, entre otros. Mis áreas de especialización incluyen las telecomunicaciones, la tecnología, el comercio minorista, la agricultura, el turismo, la banca y la mayoría de los demás segmentos de la economía de Puerto Rico.

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