USDA Rural Development Deputy Under Secretary Bette Brand announced that the agency is expanding servicing options for guaranteed lenders due to the COVID-19 pandemic. USDA is expanding upon the deferral flexibilities it announced Mar. 31, 2020, indicating that guaranteed lenders may also approve and make covered loans under the provisions of Section 1102 of the […]
Puerto Rico Farm Credit confirmed it will be offering local farmers affected by the COVID-19 emergency options to get financial assistance available through the U.S. Small Business Administration’s Paycheck Protection Program. The SBA has selected a number of financial institutions in Puerto Rico to help the different sectors. The program offers employers a loan to […]
The Caguas municipal government announced the availability of funds for emergency loans to the town’s small businesses, said Central Eastern Development Bank Executive Director Adrián Muñiz-Mariani. The entity known as BADECO for its initials in Spanish will be responsible for granting commercial emergency loans to city business owners, as part of a series of municipal […]
The U.S. Small Business Administration approved (SBA) approved 439 loans for $78.2 million to small businesses in Puerto Rico and the U.S. Virgin Islands during fiscal year 2019, a 35% and 28% increase, respectively, over the previous year, the agency announced. Of the total loans approved, 189 for $39 million were for small businesses in […]
The contracts were signed with the assistance of the University of Puerto Rico Law School’s Legal Aid Clinic, the Foundation noted.
The Federal Emergency Management Agency’s Community Disaster Loan program has approved more than $247 million for 62 municipalities throughout Puerto Rico.
Oriental announced an alliance with renewable energy company, WindMar Home, to offer —the first time in Puerto Rico — financing for solar energy products.
The Economic Development Bank for Puerto Rico announced that effective immediately, it will begin offering new loans capped at $50,000 aimed exclusively at helping small and medium businesses effectively prepare for emergencies such as hurricanes and avoid subsequent interruption in business operations.
The Federal Emergency Management Agency announced it has approved nearly $210 million in Community Disaster Loans for 51 Puerto Rico municipalities.
Puerto Rico Gov. Ricardo Rosselló confirmed that the federal government, through the Federal Emergency Management Agency (FEMA), signed the agreement to have access to Community Disaster Loans.
Four months after announcing it had agreed to acquire Wells Fargo’s auto finance business in Puerto Rico, which operates as Reliable Financial Services Inc., Banco Popular de Puerto Rico confirmed it has filed a notice with the Federal Reserve System to close the deal.
The Federal Emergency Management Agency recently awarded more than $194 million in additional Public Assistance grants for Hurricane María recovery in Puerto Rico.
Nonprofit microfinance organization Grameen Puerto Rico is bringing together leading financial institutions and other partners to galvanize investment in local low-income women entrepreneurs in the wake of the devastation caused by Hurricane María last year.
Low-interest disaster loans from the U.S. Small Business Administration are available for businesses and private nonprofits that suffered physical damage or economic losses due to hurricanes Irma and María, the agency announced.
The U.S. Small Business Administration announced that more than $1 billion in low-interest disaster loans has been approved for 28,106 Puerto Rico residents and businesses recovering in the aftermath of Hurricanes Irma and María, which struck in September 2017.
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