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EDB receives 135 new online loan applications

EDB President Joey Cancel-Planas.

EDB President Joey Cancel-Planas.

A little more than three months after launching its online loan application tool, the Economic Development Bank disclosed Thursday it has received 135 new requests for funding. Of these, 94 are corporate applications and 41 applications for individual business, the agency said.

The 135 applications filed represent more than $ 116 million in requested funding amount and a projection of 6,287 new jobs, if approved. In addition, there are 397 applications that are in process but not yet officially filed, agency officials said.

The statistical analysis of the new website shows that of the total number of visits to the site, 80 percent are new users, mostly men between the ages of 25-34 (33.5 percent) and 18-24 (27.5 percent.)

Since its implementation at the end of August, the electronic platform has received more than 3,000 visitors, agency President Joey Cancel-Planas said.

“Statistics show that this tool was necessary for our business. Moreover, we have reduced the volume of calls to learn the status of an application, as the site keeps customers informed. More and more businesses are benefiting from this technology that we have put at their fingertips,” he said.

The EDB’s online loan application tool can be accessed via www.bde.pr.gov.

Author Details
Author Details
Business reporter with 29 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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