SBA loans up 66% in Puerto Rico, USVI in 1Q15
February 12, 2015
The U.S. Small Business Administration approved 165 loans for $26.9 million in Puerto Rico and the U.S. Virgin Islands during the first three months of fiscal year 2015, an 11 percent and 66 percent increase, respectively, over first-quarter approvals in 2014.
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Popular’s small business loan activity at $280M in ’14
February 11, 2015
Banco Popular officials said Tuesday commercial lending activity for Puerto Rico’s small and mid-sized business segment reached $280 million in 2014, a 25 percent year-over-year increase that shows “an encouraging picture.”
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Doral, Rooms To Go grant family new, furnished home
December 23, 2014
Doral Bank and retailer Rooms To Go, in partnership with Proyecto ENLACE, announced Monday the culmination of a campaign that granted a three-bedroom home to a low-income family residing in the Martin Peña Channel community in San Juan.
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SBA loan program hits lending record in FY 2014
November 7, 2014
The U.S. Small Business Administration’s 7(a) Loan Program reached another lending record in FY 2014, SBA Administrator Maria Contreras-Sweet announced Thursday.
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EDB pumps $32.2M into Puerto Rico economy in 1Q15
October 15, 2014
The Economic Development Bank for Puerto Rico disclosed Tuesday that during the first quarter of Fiscal 2015, it has approved more than $32.2 million in 68 loans to businesses looking to expand or establish themselves on the island.
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Doral Financial Corp. sells $430M in assets to Barclays
September 10, 2014
Doral Financial Corporation, the financial services holding company of Doral Bank, with operations in Puerto Rico and the U.S. mainland, announced Tuesday the sale of some $430 million in assets to Barclays Inc.
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EDB launches online banking tool for commercial clients
August 22, 2014
The Economic Development Bank unveiled Thursday an online banking tool that allows its commercial clients to apply for loans and follow through on their applications, becoming the first financial institution in Puerto Rico to offer this type of service.
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EDB, ADSEF join to push community biz development
August 6, 2014
As part of an initiative to promote the development of small businesses among low-income families, the Economic Development Bank for Puerto Rico and the Family Department's Socio-Economic Development Administration, known as ADSEF, have joined forces help those participating in the islandwide Economic and Social Rehabilitation program.
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Doral sells $824.4M in non-performing assets at discount
July 15, 2014
Doral Financial Corp. announced Monday it had entered into an agreement to sell some $824.4 million in non-performing loans to Abbey Finance Holdings PR, LLC, for a discounted amount of $369 million.
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New EDB product to support community pharmacies
June 13, 2014
The Economic Development Bank on Thursday announced a partnership with the Puerto Rico Community Pharmacies Association to launch a new product to help promote the sector’s growth through financing new and existing operations.
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Doral sells $241M in loans to FirstBank; weighs options
June 3, 2014
Doral Financial Corp. announced Monday it has entered into an agreement to sell $242.1 million in loans to FirstBank Puerto Rico through a transaction that closed May 30.
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EDB, Microfinanzas PR partner to spur self-employment
May 29, 2014
As part of an initiative to promote the development of micro-enterprises and self-employment among Puerto Rico’s low-income residents, the Economic Development Bank has partnered with the Puerto Rico Microfinances Corp., known as Microfinanzas PR, to establish a case referral system between the institutions.
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USDA offers $44.3M in funds to support rural economies
May 22, 2014
The U.S. Department of Agriculture announced Wednesday it is accepting applications for loans and grants to support community development projects, kick-start business expansion and create jobs.
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Puerto Rico gov’t to offer mortgage-refinancing program
May 14, 2014
Some 10,000 low- and moderate-income families residing in Puerto Rico stand to benefit from the “Ahorro Hipotecario” program, which offers mortgage-refinancing opportunities through the Housing Finance Authority, Gov. Alejandro García-Padilla said Tuesday.
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Op-Ed: SBA working to get loans in the hands of veterans
February 13, 2014
Our nation’s veterans have served our country proudly and bravely. They are true American heroes, and we must make sure that we’re doing everything possible to support them once they reenter civilian life.
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