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USDA Rural Dev.’t awards 5 Puerto Rico banks for $109M in lending

U.S. Department of Agriculture Rural Development office in Puerto Rico announced the recipients of its “Top Lenders Awards” for approving $109 million in home loans.

In June, the agency celebrates “Homeownership Month.” In 2020, the partnership between USDA Rural and local lending institutions has led to more than 3,700 families buying homes, said Puerto Rico State Director of the, Josué E. Rivera.

USDA Rural Development recognized the “effort, commitment, and support of five local banks participating in the Single-Family Housing Guaranteed Loan Program:

“Our commitment to homeownership as a means for rural prosperity remains firm,” said Rivera.

“Despite all the adversities of Fiscal Year 2020, USDA Rural Development has invested nearly $447 million in Puerto Rico to help 4,013 families buy their first home,” Rivera said.

USDA Rural has also provided $534,148 for home repairs to 79 families with very-low incomes. Also, we have invested $100,000 in Housing Preservation Grants to provide safe, clean, and decent homes to rural communities, he added.

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This story was written by our staff based on a press release.

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