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Article: Economic Development Bank and Banco Santander Puerto Rico Launch 'Authorized Creditor' Program.
- Article from:
- PR Newswire
- Article date:
- September 27, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN JUAN, Puerto Rico, Sept. 27 /PRNewswire/ -- The Economic Development Bank for Puerto Rico (EDB) and Banco Santander Puerto Rico (NYSE: SBP) announced today the creation of a new program of guaranteed loans called "Authorized Creditor". The objective is to provide a new financing alternative to small and medium business owners with both institutions serving as facilitating agents for Puerto Rican entrepreneurs through a program of commercial loans guaranteed by the EDB.
Banco Santander Puerto Rico will grant loans up to $500,000 through the Authorized Creditor Program, at a maximum interest rate up to 2-3/4 above the preferred interest rate. The terms of the ...