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.
Banco Popular de Puerto Rico launched Thursday what may be a first for the island’s commercial banking sector: giving consumers the option to put their savings up as partial collateral when applying for a personal loan.
With the goal of providing a new financing alternative to car dealers, FirstBank approved a $2.7 million “floor plan” loan secured by the Small Business Administration to Autos de Cayey Inc., the bank announced Tuesday. Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods, the […]
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