When Puerto Rico’s current recession started in 2006, it set off one of the most significant migrations of island residents in recent history, with some 37,000 people leaving in search for a better life that year. In the last five years that number has blown up to more than 300,000, the Migrant Profile released by the Puerto Rico Statistics Institute showed on Monday.
Puerto Rico’s main banks had more than $75.6 billion in combined assets at the end of 2010, reflecting a year-over-year drop of 15.6 percent, according to a report released by the Office of the Commissioner of Financial Institutions.
The Economic Development Bank announced Sunday the approval of $7.2 million in loans — and a $1 million revolving credit facility — to help a trio of local businesses develop and keep their businesses going.
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