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Banesco Usa Closes $250 Million Investment From The U.S. Treasury's Emergency Capital Investment Program

Banesco Usa Closes $250 Million Investment From The U.S. Treasury's Emergency Capital Investment Program

06/22/22, 4:31 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgmiami
Money raised
$250 million
Banesco USA announces it has closed on $250 million investment from the U.S. Department of the Treasury's Emergency Capital Investment Program (ECIP). Banesco USA is the only bank recipient of ECIP located in Florida or Puerto Rico and the investment amount received is greater than the $237.5 million it was initially approved for under ECIP. The capital will enable Banesco USA to increase lending and provide financial impact to the local target communities it serves in South Florida and Puerto Rico, particularly minority borrowers, minority-owned businesses, small businesses, and borrowers located in underserved or minority communities.

Company Info

Company
Banesco Usa
Location
miami, florida, united states
Additional Info
Founded in 2006 and based in Coral Gables, Banesco USA is an independent Florida state-chartered bank (https://banescousa.com/OFR-Cert-of-Good-Standing.pdf) with $2.0 billion in assets as of Sept. 30, 2021. The bank has four branches in South Florida: Coral Gables, Hialeah, Aventura, and Brickell; and one in San Juan, Puerto Rico. A location in the Doral area is coming soon. Visit www.BanescoUSA.com for additional information.