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

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.