EDB OK’s $8M loan, credit line to Guayanilla firm
June 28, 2012
The Economic Development Bank announced Wednesday it granted local company South Puerto Rico Towing and Boat Service Inc. an $8 million loan and credit line to use for operating expenses.
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EDB launches credit line program to spur local procurement
June 20, 2012
The Economic Development Bank and the Puerto Rico Industry Investment Board announced Tuesday the start of a financing program to provide credit lines of between $50,000 and $900,000 to local companies seeking to selling products and services to the government but who lack the necessary funds to get the process going.
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Gov’t agencies, private sector pact to spur job creation
May 4, 2012
The Economic Development Bank, the Family Department's Socio-Economic Development Administration, known as ADSEF, the Puerto Rico Chamber of Commerce (CofC) and the United Retailers Association (CUD) announced Thursday the signing of a pair of agreements to launch a job promotion plan for low-income residents.
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EDB prepared to assign $21M in financing to 600 college biz plans
January 18, 2012
Backing its mantra that “the island’s future development will be in the hands of youth,” the Economic Development Bank is kicking off its “Because You Can” entrepreneurial initiative with a visit to Sacred Heart University in Santurce this Friday.
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EDB bets on self-employment in ’12
December 27, 2011
The Economic Development Bank will be setting its sights on promoting self-employment initiatives in 2012, targeting specific sectors with orientation sessions and, perhaps most importantly, funding, agency President Ivonne Otero said.
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EDB OKs $1M in self-employment loans in Vieques, Culebra
December 12, 2011
The Economic Development Bank this week marked the end of the first phase of the Vieques and Culebra Tourism and Commercial Development Loan Program, which has already approved $1 million in loans that have created 74 new jobs split between the two island municipalities.
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Farmers ring up $1.2 million in sales during EDB-sponsored markets
November 23, 2011
Economic Development Bank President Ivonne Otero said Tuesday that local farmers participating in the agency’s urban market events over the past 24 months have generated some $1.2 million in direct sales, plus another similar amount in deals to export their goods, as well as sell them at retail establishments on the island.
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EDB launches ‘Because you can’ financing program
September 7, 2011
Looking to promote entrepreneurship among the island's neediest populations, including recent college graduates, inmates about to complete their sentence and medical professionals participating in the government's health reform program, Governor Luis Fortuño announced Tuesday the start of the new "Because you can" financing program.
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SBA, EDB offer loans to cover Irene-related losses
August 30, 2011
The U.S. Small Business Administration and the Economic Development Bank announced Monday the availability of emergency and disaster loans for small and mid-sized businesses, as well as homeowners, whose property was either lost or damaged by Hurricane Irene.
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EDB gives farmers battered by Irene 3-month break on loan payments
August 26, 2011
In the wake of the destruction Hurricane Irene inflicted upon the agriculture sector, currently estimated at some $20 million, the Economic Development Bank has granted an automatic three-month stay on loans held by insured farmers, agency chief Ivonne Otero said Thursday.
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EDB grants $36.5M in small business loans
June 22, 2011
Sixty-seven small businesses in the areas of services, agriculture, manufacturing and technology received a combined $36.5 million in loans from the Economic Development Bank Tuesday, through which they will create some 5,700 jobs, agency President Ivonne Otero announced.
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Fortuño names new EDB chief
April 27, 2011
Gov. Luis Fortuño announced Wednesday the appointment of Ivonne Otero Guzmán as Economic Development Bank president, succeeding banker Lizzie Rosso who resigned to the post late last month to return to the private sector.
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EDB chief to step down at end of month
March 4, 2011
By month's end, the government's two banks will see a turnover at the helm.
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EDB announces $8.2M in support for local businesses
February 28, 2011
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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EDB looks to boost loan portfolio, expand benefits to small-, mid-sized entrepreneurs
February 20, 2011
The Economic Development Bank announced Sunday it is looking to boost its loan portfolio for Puerto Rico’s small- and mid-sized businesses by nearly 10 percent, to $275 million, in fiscal ’12, as a result of efficiencies achieved at the agency over the past 23 months.
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