SBA loans in P.R., USVI reach $43.8M in 1st half of FY ’16
April 28, 2016
The U.S. Small Business Administration approved 335 loans for $43.8 million in Puerto Rico and the U.S. Virgin Islands during the first six months of fiscal year 2016, a 19 percent and six percent increase, respectively, over approvals during the same period in 2015, the agency said Wednesday.
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Popular’s start-up loan program spurs variety of pitches
January 13, 2016
Puerto Rico's largest bank is putting its money behind start-ups through an innovative program that is already generating some interest among entrepreneurs.
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La Familia Pawn & Jewelry inaugurates 21st store
December 22, 2015
La Familia Pawn & Jewelry recently inaugurated its 21st store in Puerto Rico, a 2,500 square-foot location in the town of Guaynabo.
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P.R. credit unions show ‘solid performance’ in past 5 yrs
December 17, 2015
Puerto Rico’s credit unions have shown “solid performance” over the past five years, with an 8 percent growth in assets and membership growth of nearly 10 percent.
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Santander Consumer to open servicing center in P.R.
December 14, 2015
Santander Consumer USA Holdings Inc. announced that in 2016, it will be opening Santander Consumer International Puerto Rico, a new office and servicing center for certain performing loan portfolios.
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SBA supports $80.5M in loans to P.R., USVI small biz
November 3, 2015
The U.S. Small Business Administration approved $80.5 million in loans to small business in Puerto Rico and the U.S. Virgin Islands during fiscal year 2015, District Director Yvette T. Collazo announced Monday.
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USDA announces funding to repair rural area homes
August 17, 2015
The U.S. Department of Agriculture’s Rural Development Home Repair Program is offering qualifying rural homeowners the opportunity to apply for loans and grants to repair their dwellings, agency officials announced.
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USDA opens cycle for broadband build-out loans
August 3, 2015
The USDA announced the availability of loans to build broadband in rural areas, along with changes to the program required by the 2014 Farm Bill.
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SBA economic injury disaster loans available in P.R.
July 22, 2015
The U.S. Small Business Administration announced Tuesday that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations located in Puerto Rico as a result of the drought.
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SBA microloan program grows access to entrepreneurs
June 18, 2015
The U.S. Small Business Administration this week published a final rule for the microloan program that provides more flexibility to SBA non-profit intermediaries, expands the pool of microloan recipients, and increases accessibility in SBA programs.
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First BanCorp to sell $199.8M in loans next month
May 27, 2015
First BanCorp., the bank holding company for FirstBank Puerto Rico, announced Tuesday it has entered into a definitive agreement to sell a portfolio comprised of mostly non-performing and classified commercial loans and real estate owned totaling $199.8 million of unpaid principal balance, or $150.1 million of book value, for $87.6 million in cash or 43.8 percent of the unpaid principal balance of the assets.
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Credit unions rack up $1.3B in mortgage loans in 1Q15
May 20, 2015
The Public Corporation for the Supervision of Puerto Rico Cooperatives, or COSSEC as the entity is known in Spanish, said Tuesday that the island’s credit unions approved some $1.3 billion in mortgage and mortgage-related loans during the first quarter of 2015, for a combined portfolio of 18,385 financing agreements.
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Money Express marks 20 years despite market volatility
May 7, 2015
Small loans company Money Express, a FirstBank sister operation, is marking 20 years of doing business in Puerto Rico, where it commands a 22 percent market share with a $104 million loan portfolio.
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EDB spurs creation of 217 new businesses, 1,668 jobs
March 26, 2015
The Puerto Rico Economic Development Bank announced Wednesday it has spurred the creation of 217 new businesses since January 2013, through $22.3 million in approved financing.
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Popular to manage $5B in former Doral Bank loans
March 3, 2015
Popular Inc., which on Friday picked up the lion’s share of Doral Bank’s assets, announced Monday it won its bid to also take over the mortgage servicing rights on three pools of residential mortgage loans serviced for Ginnie Mae, Fannie Mae and Freddie Mac held by the shuttered bank.
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