Oriental leads in 7(a), 504 SBA loan originations
The US Small Business Administration confirmed that Oriental established itself as the leading bank in loan origination volume under the agency’s 7(a) and 504 financing programs.
“We reiterate our commitment to small and medium businesses. We’re here to help them to say ‘Yes I can’ achieve my company’s goals,” said Carlos Comas, director of Business Banking at Oriental.
“These businesses play a significant role in Puerto Rico’s economy, so it’s essential to support them in their development plans. This way we also contribute to the economic well-being of our island,” he said.
Oriental was number one in the Puerto Rico/US Virgin Islands district in 7(a) Program loan originations and ranked 40 among 51,853 financial institutions across the 50 states and territories that participated in the program. Meanwhile, it was #1 in Puerto Rico as “Third Party Vendor” of the 504 Program.
“These achievements demonstrate our team’s commitment to being the #1 bank for small and medium-sized businesses, we want to be there for entrepreneurs,” said Comas.