The Economic Development Bank has a specific agenda it will follow to promote local small and mid-sized enterprises, including the creation of a training institute for entrepreneurs, agency President Luis Burdiel-Agudo said.
The U.S. Department of Agriculture has approved a $1 million loan to the Puerto Rico Economic Development Bank for job promotion in rural areas.
In the first three weeks of the year, the Economic Development Bank for Puerto Rico has expedited internal processes to achieve faster loan closings, with $238,130 already approved, the agency announced Thursday.
The head of the Economic Development Bank for Puerto Rico told members of the incoming administration during transition hearings that the agency approved $499.7 million in financing from January 2013 to present, boosting the economy
As part of a strategy to face the government’s current liquidity challenges and continue contributing to the island’s economic development, the Puerto Rico Economic Development Bank announced Monday it will be capping credit lines at $500,000 from the $5 million limit it formerly offered.
As part of an economic development initiative with special focus on business development in special communities, as well as to promote the establishment of a model toward economic self-sufficiency, the Economic Development Bank and the Office the General Coordinator for Socioeconomic Financing (OFSA) formalized a partnership to establish a line of support for small businesses that sprouting in those areas.
Puerto Rican company Caribbean Biotechnologies Inc. was recently granted approval by the Ministry of Health of Haiti to conduct clinical studies to test its new technology for the instantaneous detection of Tuberculosis in patients, in partnership with International Child Care's Grace Children's Hospital in Port-Au-Prince, Haiti.
The Puerto Rico Economic Development Bank announced Wednesday it has spurred the creation of 217 new businesses since January 2013, through $22.3 million in approved financing.
The Economic Development Bank for Puerto Rico recently unveiled two new financing options for local and federal government contractors, with the goal of promoting procurement, agency President Joey Cancel said.
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.
The Economic Development Bank for Puerto Rico disclosed Tuesday that during the first quarter of Fiscal 2015, it has approved more than $32.2 million in 68 loans to businesses looking to expand or establish themselves on the island.
A little over month after implementing an online service that enables citizens to interact with the agency in new ways, the Economic Development Bank for Puerto Rico said Wednesday it has received 46 applications for business loans, of which 32 are corporate applications and 14 applications for individual operations.
The U.S. Treasury Department announced Wednesday the transfer of more than $4.9 million in State Small Business Credit Initiative (SSBCI) funds to Puerto Rico to help local businesses access the capital they need to grow and hire.
Looking to give the island’s economic activity a much-needed push through entrepreneurship, Plaza Las Américas is joining forces with MasterCard, the Puerto Rico Economic Development Bank, and the Puerto Rico Trade and Export Company to launch the "Journey to Business Success" competition for business development.
The Economic Development Bank unveiled Thursday an online banking tool that allows its commercial clients to apply for loans and follow through on their applications, becoming the first financial institution in Puerto Rico to offer this type of service.
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