In-Brief

Oriental approves $275M+ in Payroll Protection Program loans

Puerto Rico-based financial institution Oriental confirmed that as a result of the first and second round of the SBA (7a) Payroll Protection Program, granted more than $275 million in loans, benefiting 3,300 businesses and 58,000 employees of small and mid-sized businesses.

“We’re closing this first and second-round process, achieving excellent results, supporting our small and medium businesses,” said Ganesh Kumar, chief operating officer at Oriental.

“This is thanks to our employees who worked from home, regardless of the hours to fulfill the commitment to help this sector. Also, the process was completely digital, making it easier, more accessible, and faster for our clients, being the first bank to make a digital, agile, and simple process available to them, with quick responses,” he said.

Access the bank’s dashboard to find the data related to the first and second round of PPP loans that Oriental granted.

“At Oriental we’re more than ready to give the service and support businesses so that they can continue to pay their employees’ payrolls and pay their business expenses, so when the emergency is over they can start operating as normal as possible,” Kumar said.

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This story was written by our staff based on a press release.

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