Small businesses that suffered economic losses when the owner or a key employee was called up to active duty are eligible to apply for a low interest loan of up to $2 million from the U.S. Small Business Administration, the agency announced Monday.
The Office of the Financial Institutions Commissioner announced it has entered into an agreement with Utah-based UBS Bank USA through which the latter will transfer a securities-backed loan portfolio worth $562 million to UBS Financial Services Inc. of Puerto Rico.
The U.S. Small Business Administration supported more than $75 million in loans to Puerto Rico and U.S. Virgin Islands small businesses during fiscal year 2013, an 8 percent increase over fiscal year 2012, the agency announced Wednesday.
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