OFG Bancorp announced Tuesday that its subsidiary Oriental Bank’s outstanding participation in a line of credit to the Puerto Rico Electric Power Authority (PREPA) has been sold, thereby significantly reducing its direct exposure to Puerto Rico government related credits.
Florida-based Consolidated-Tomoka Land Co. announced Thursday the pay off of its $14.5 million first mortgage loan secured by the Sheraton Old San Juan Hotel at a discount of approximately $218,000.
FirstBank announced Wednesday it has granted a $664,112.00 loan to Presbyterian Academy, an educational institution in Carolina, for the purchase and installation of a photovoltaic system on its main buildings, which will reduce the it’s electricity expenses.
More than 9,000 homeowners in Puerto Rico could save an average of $182 a month, or approximately $2,200 a year, on their mortgage loans as the result of the extension through 2016 of the Home Affordable Refinance Program and the Home Affordable Modification Program, federal authorities said this month.
New Jersey-based Vornado Realty Trust announced Wednesday the modification of the $120 million, 6.04 percent mortgage loan secured by its Montehiedra Town Center.
FirstBank announced Wednesday the approval of a $2 million loan to Deya Elevator Services Inc., a Puerto Rican firm that specializes in vertical transportation, namely elevators, linear transports and ramps.
A little more than three months after launching its online loan application tool, the Economic Development Bank disclosed Thursday it has received 135 new requests for funding.
Puerto Rico farmers and ranchers still have time to apply for low interest 2014 loans available through the U.S. Department of Agriculture’s Farm Service Agency’s direct farm ownership program.
Oriental Bank’s corporate banking division recently granted Puerto Rican company Bettina Cosmetics Inc. a loan exceeding $1.4 million, in keeping with its goal of supporting the island’s economic development.
Looking to support of small and medium-sized businesses during these challenging economic times, FirstBank and the Small Business Administration jointly announced Wednesday the financing of a $226,000 commercial loan to Assistive Technology Specialists Inc., so that it can expand healthcare equipment sales and technological assistance to people with disabilities.
Oriental Financial Group’s banking division recently granted a $2.8 million loan to Alco High Tech Plastics, a manufacturing company in Corozal, through the Small Business Administration’s 504 program, it was announced Monday.
U.S. Bank, as joint lead arranger and administrative agent, closed on a $320 million loan for The Taubman Realty Group Limited Partnership to finance the development of The Mall of San Juan, a 650,000-square-foot shopping and entertainment complex in San Juan.
The Federal Home Loan Bank of New York released Monday its unaudited financial highlights for the quarter ended Mar. 31, disclosing, among other details, net income for the quarter of $75.4 million.
The Federal Home Loan Bank of New York announced Wednesday the award of a $400,000 grant to Pathstone, Inc. to help finance the Valle Dorado project, which will construct a new building providing 32 affordable homes for very low-income seniors in Utuado.
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