The US Small Business Administration’s Paycheck Protection Program has approved close to $500 million in loans in Puerto Rico and more than $36 million in the US Virgin Islands, the agency announced in its March 7, 2021 report. Moreover, the SBA has approved 12,154 PPP loans for businesses and nonprofits in Puerto Rico, a 10.9% […]
This will help the municipality better attend to the health, safety, and security needs of its constituents.
Velázquez has introduced the “Access to Sufficient Capital for Everyone in Natural Disaster Areas Act of 2018,” (ASCEND Act) a bill that would extend SBA disaster loan applications for an additional year.
In this, our first podcast, we explore the in's and out's of mortgage moratoriums and loan modifications offered by Puerto Rico banks to help customers after the devastation of Hurricane María. We discuss several important points with CPA Javier Hernández, from FirstBank Puerto Rico.
Print 1, a commercial printing business in Las Piedras, recently received a $6.7 million line of credit from FirstBank for the purchase of assets and working capital to expand their facilities, the company stated.
A decision by the Federal Emergency Management Agency to provide a $238 million grant for permanent repairs to the U.S. Virgin Islands Water and Power Authority is “credit positive” for the authority, Moody’s Investors Service said in a new report.
Starting Feb. 18, PREPA will begin a ramp down of select generation units.
Gov. Ricardo Rosselló introduced a measure to the Puerto Rico Legislative Assembly that would allow the central government to issue loans to the Puerto Rico Electric Power Authority (PREPA) and the Puerto Rico Aqueduct and Sewer Authority (PRASA).
As part of its efforts to contribute to the island’s recovery after Hurricane María, Ford Puerto Rico established an alliance with Reliable Auto to make buying new Ford models more accessible.
The Puerto Rico Electric Power Authority (PREPA) Bondholder Group announced that its members have offered a debtor in possession (DIP) financing loan to the public corporation to help address the urgent need to repair the power grid in the wake of Hurricane María, following Hurricane Irma.
FirstBank has granted a $5.1 million loan to Manatí Medical Center to finance the extension and renovation of its Emergency Room, in support of its consistent growth in the northern part of the island.
First BanCorp. announced Monday that its subsidiary, FirstBank Puerto Rico, sold on March 10, 2017 its outstanding participation in a line of credit to the Puerto Rico Electric Power Authority (PREPA), reducing its direct exposure to Puerto Rico government related credits.
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.
FirstBank announced it has granted Pentaq Manufacturing Corp.the first working capital line of credit of $4.5 million under the CAPLine program of the U. S. Small Business Administration.
Oriental Bank announced Thursday it has granted a $4.9 million to Grupo Quiñones to build a Selectos supermarket, which is already under construction.
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