The Puerto Rico Minority Business Development Agency recently bestowed its “Capital Access” award to the Economic Development Bank for the various programs the agency has developed to meet the financial needs of many sectors of the island’s economy.
The Economic Development Bank approved a $2.5 million rescue loan to spare the Ocean Marina Blue Shopping Center, the only strip mall in Puerto Rico’s coastal town of Loíza, owned by siblings and built in 2008.
The Puerto Rico government is reviewing a request by one of the island's main hotel operators to restructure the loan that helped pay for the renovation of two landmark hotels: La Concha Renaissance Resort & Casino, currently in operation, and the Condado Vanderbilt Hotel, which shut down 15 years ago and reopens on Tuesday in a phased manner.
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