Braemar secures $62M loan for Dorado Beach, a Ritz-Carlton Reserve
March 12, 2024
The financing will support the continued growth of the luxury resort. #NewsismyBusiness
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Puerto Rico boosts small business financing with federal support
March 4, 2024
The island’s Economic Development Bank partners with the U.S. Treasury to expand credit options. #NewsismyBusiness
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Local veterinarian expands practice with FirstBank loan
February 16, 2024
Dr. Eduardo Díaz-Argimon’s acquisition of a second animal hospital was supported by SBA-backed financing. #NewsismyBusiness
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Puerto Rico’s Restaurant Assoc., EDB partner to support industry
February 7, 2024
A new agreement aims to offer financing of up to $200,000 and resources for restaurateurs. #NewsIsMyBusiness
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Parallel18, Banco Popular launch post-acceleration program for startups
February 22, 2023
Xpand provides mentorship to founders of innovative companies that will focus on raising capital, exports and expanding into new markets.
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Commercial Equipment Finance originated $150M in ’22 loans
February 20, 2023
This is the highest level recorded by the company since its launch in 2009, company executives said.
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USDA OKs $21.3M in financing to Puerto Rico tugboat operator
May 25, 2022
The funding is expected to help with job training, business expansion and technical assistance.
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Commercial Equipment Finance closes $90.9M financing transaction
December 27, 2021
Commercial Equipment Finance Inc. (CEFI), an independent commercial equipment finance company headquartered in Puerto Rico, recently closed a $90.9 million asset-backed security (ABS) transaction. The proceeds will be used to pay down existing warehouse lines and for general corporate purposes. This transaction represents CEFI’s inaugural securitization. The deal includes four classes of equipment contract-backed notes, […]
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PathStone begins accepting new funding applications from SMEs
February 25, 2021
Nonprofit organization, PathStone Enterprise Center Inc., (PECI) began receiving and evaluating applications for financing under its Assistance and Loan Program for new clients looking to establish their own business or expand an existing business. “At PathStone Enterprise Center we recognize the tough path that entrepreneurs experience in search of the necessary financing for the development […]
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FirstBank grants $11.7M in financing to South Puerto Rico Towing & Boat Service
February 13, 2020
Family-owned company South Puerto Rico Towing & Boat Service Inc. is looking to grow this year due to financing totaling $11.7 million approved by FirstBank, the 504 program of the Small Business Administration (SBA), and COFFEC. The company will put the money toward the purchase of a tugboat, improvements to an existing tugboat, and debt […]
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Oriental grants $1.5M loan for new multi-use complex
November 4, 2019
As part of its commitment to small- and medium-sized business, Oriental confirmed it has granted a $1.5 million loan Eventiu Corp. for the development of the SportLand Center multipurpose complex. SportLand Center will be the first and only indoor multi-purpose sports complex with air conditioning in Puerto Rico, company officials said. It will feature four […]
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FirstBank grants $6.5M in financing to Air-Con Inc.
March 19, 2019
FirstBank recently granted $6.5 million in financing to Air-Con Inc., a distributor of air conditioners and commercial refrigeration, for working capital guaranteed by its inventory and accounts receivables. Air-Con Inc., which has offices in Puerto Rico and the Caribbean, pioneered in introducing energy saving inverter products to Puerto Rico. It also developed its own Air-Con […]
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BADECO opens 2nd cycle of accessible capital program to stabilize, expand businesses
March 1, 2019
The Central-Eastern Development Bank, or BADECO for its initials in Spanish, opened the second cycle of the “Capital Accesible para Tu Negocio” financing program to support entrepreneurs in the areas they need it most to stabilize or expand a business in operation. “’Capital Accesible’ is not just a commercial finance program, but one that includes […]
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González urges those affected by Hurricane María to seek current SBA grants
February 25, 2019
Puerto Rico Resident Commissioner Jenniffer González encouraged those affected by hurricane Maria who have not requested assistance yet from the Small Business Administration (SBA) to do so, as the agency continues accepting late applications under certain requirements. Individuals may apply for assistance by calling the SBA offices in Puerto Rico or the FEMA Community Resource […]
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Gov’t calls on private entities to learn about benefits of AFICA financing
February 18, 2019
Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF) Executive Director, Christian Sobrino has opened a call to private-sector groups to visit the agency’s website to learn about the financing options for certain projects through the Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority. AFICA, as the Authority is known by […]
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