{"id":97404,"date":"2021-12-15T17:00:00","date_gmt":"2021-12-15T21:00:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-banesco-usa-approved-to-receive-237-5-million-investment-from-the-u-s-treasurys-emergency-capital-investment-program\/"},"modified":"2021-12-15T18:10:13","modified_gmt":"2021-12-15T22:10:13","slug":"banesco-usa-obtiene-aprobacion-para-recibir-237-5-millones-en-inversion-del-departamento-del-tesoro-de-los-estados-unidos-bajo-el-programa-de-ecip","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/banesco-usa-obtiene-aprobacion-para-recibir-237-5-millones-en-inversion-del-departamento-del-tesoro-de-los-estados-unidos-bajo-el-programa-de-ecip\/","title":{"rendered":"Banesco USA Approved to Receive $237.5 Million Investment from the U.S. Treasury&#8217;s Emergency Capital Investment Program"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">MIAMI<\/span>, <span class=\"xn-chron\">Dec. 15, 2021<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0<b>Banesco <span class=\"xn-location\">USA<\/span> <\/b>announces it is an approved participant in the U.S. Department of the Treasury&#8217;s <b>Emergency Capital Investment Program (ECIP). <\/b>Banesco <span class=\"xn-location\">USA<\/span> is eligible to receive an ECIP investment in an amount up to <span class=\"xn-money\">$237.5 million<\/span>, which will enable the bank to increase lending and further provide a positive financial impact to the small and minority-owned businesses, and low- and moderate-income (LMI) consumers in the communities it serves in <span class=\"xn-location\">South Florida<\/span> and <span class=\"xn-location\">Puerto Rico<\/span>. This support will go far to directly benefit populations which have been disproportionately impacted by the COVID-19 pandemic.<\/p>\n<div id=\"prni_dvprnejpg573bleft\" style=\"WIDTH: 100%; TEXT-ALIGN: left\" dir=\"ltr\"><img decoding=\"async\" id=\"prnejpg573bleft\" title=\"Banesco USA\" border=\"0\" alt=\"Banesco USA\" align=\"middle\" imagelabel=\"General\" src=\"https:\/\/mma.prnewswire.com\/media\/1624680\/Banesco_USA_Logo.jpg\"\/><\/div>\n<p>In a release issued yesterday by the U.S. Department of the Treasury, it was announced the Treasury will invest more than <span class=\"xn-money\">$8.7 billion<\/span> through ECIP in institutions across the country \u2013 <b>Banesco <span class=\"xn-location\">USA<\/span> is the only bank recipient located in <span class=\"xn-location\">Florida<\/span> or <span class=\"xn-location\">Puerto Rico<\/span><\/b>. ECIP was established by the Consolidated Appropriations Act of 2021 and encourages mission-motivated community financial institutions to expand their efforts to support small and minority-owned businesses and LMI consumers in their communities. As a minority-led MDI (Minority Depository Institution), Banesco <span class=\"xn-location\">USA<\/span> has a strong track record of lending to minority borrowers and projects which deliver significant community economic benefits in the predominantly minority communities it serves. The ECIP capital invested in Banesco <span class=\"xn-location\">USA<\/span> enables the bank to expand its lending to minority-owned businesses, develop new lending products, and increase its sustained support of businesses and organizations which provide benefits to LMI populations.<\/p>\n<p>The communities which Banesco <span class=\"xn-location\">USA<\/span> serves in <span class=\"xn-location\">South Florida<\/span> and <span class=\"xn-location\">Puerto Rico<\/span> were disproportionately harmed by the economic impact of the pandemic. The bank responded swiftly to those communities&#8217; needs with loan accommodations for existing borrowers, participation in the PPP program, continued lending to minority-owned businesses and borrowers, and increased investment in <span class=\"xn-location\">Puerto Rico<\/span>. Today&#8217;s announcement will allow Banesco <span class=\"xn-location\">USA<\/span> to do even more.<\/p>\n<p>&#8220;Access to ECIP capital enables Banesco <span class=\"xn-location\">USA<\/span> to expand its product offerings and significantly increase its lending capabilities. This combination will serve to accelerate the positive impact Banesco <span class=\"xn-location\">USA<\/span> facilitates in our communities. The lending we are able to offer, for both individuals and businesses, will immensely expand and those benefits will reverberate for years to come,&#8221;\u00a0said <b><span class=\"xn-person\">Calixto (Cali) Garcia-Velez<\/span>, President &amp; CEO of Banesco <span class=\"xn-location\">USA<\/span>. <\/b><\/p>\n<p>&#8220;This investment will create a multiplier effect and allow Banesco <span class=\"xn-location\">USA<\/span> to further expand lending to minority and LMI communities by an estimated <span class=\"xn-money\">$8.5 billion<\/span> over the next 10 years. We are committed to being good stewards of the ECIP investment capital and will continue to use sound and prudent lending practices,&#8221; added <b><span class=\"xn-person\">Kenneth Schoeni<\/span>, Chief Financial &amp; Risk Officer of Banesco <span class=\"xn-location\">USA<\/span><\/b>.<\/p>\n<p>The bank is well-positioned to leverage\u00a0the support from ECIP to\u00a0expand\u00a0its existing successful lending experience and execute new strategies to reach a broader population. Mr. Garcia-Velez added, &#8220;Minority borrowers\u00a0have always been an integral part of Banesco <span class=\"xn-location\">USA&#8217;s<\/span> customer base and we look forward to expanding our relationships with our community.&#8221;<\/p>\n<p>If you are a minority-owned business owner, an owner of a business which provides benefits to LMI communities, or need additional information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3391412-1&amp;h=790792238&amp;u=http%3A%2F%2Fwww.banescousa.com%2F&amp;a=www.BanescoUSA.com\" rel=\"nofollow\">www.BanescoUSA.com<\/a>.<\/p>\n<p>To view the U.S. Department of the Treasury&#8217;s press release, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3391412-1&amp;h=1100533&amp;u=https%3A%2F%2Fhome.treasury.gov%2Fnews%2Fpress-releases%2Fjy0530&amp;a=https%3A%2F%2Fhome.treasury.gov%2Fnews%2Fpress-releases%2Fjy0530\" rel=\"nofollow\">https:\/\/home.treasury.gov\/news\/press-releases\/jy0530<\/a>. <\/p>\n<p><b>About Banesco <span class=\"xn-location\">USA<\/span><\/b><br \/>Founded in 2006 and based in Coral Gables,\u202fBanesco\u202fUSA is an independent <span class=\"xn-location\">Florida<\/span> state-chartered bank (<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3391412-1&amp;h=2330891862&amp;u=https%3A%2F%2Fcts.businesswire.com%2Fct%2FCT%3Fid%3Dsmartlink%26url%3Dhttps%253A%252F%252Fbanescousa.com%252FOFR-Cert-of-Good-Standing.pdf%26esheet%3D52269337%26newsitemid%3D20200819005649%26lan%3Den-US%26anchor%3Dhttps%253A%252F%252Fbanescousa.com%252FOFR-Cert-of-Good-Standing.pdf%26index%3D2%26md5%3D4b90ae13b8f7c7fb41d1b856a8207dc3&amp;a=https%3A%2F%2Fbanescousa.com%2FOFR-Cert-of-Good-Standing.pdf\" rel=\"nofollow\">https:\/\/banescousa.com\/OFR-Cert-of-Good-Standing.pdf<\/a>) with <span class=\"xn-money\">$2.0 billion<\/span> in assets as of\u202fSept. 30, 2021. The bank has four branches in <span class=\"xn-location\">South Florida<\/span>: <span class=\"xn-location\">Coral Gables<\/span>, <span class=\"xn-location\">Hialeah<\/span>, <span class=\"xn-location\">Aventura<\/span>, and Brickell; and one in <span class=\"xn-location\">San Juan, Puerto Rico<\/span>. A location in the <span class=\"xn-location\">Doral<\/span> area is coming soon. Visit\u202f<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3391412-1&amp;h=3591053248&amp;u=https%3A%2F%2Fcts.businesswire.com%2Fct%2FCT%3Fid%3Dsmartlink%26url%3Dhttp%253A%252F%252Fwww.BanescoUSA.com%26esheet%3D52269337%26newsitemid%3D20200819005649%26lan%3Den-US%26anchor%3Dwww.BanescoUSA.com%26index%3D3%26md5%3Df9a77f69fc505bf6b7b456ed99c77e74&amp;a=www.BanescoUSA.com\" rel=\"nofollow\">www.BanescoUSA.com<\/a>\u202ffor additional information.<\/p>\n<p><b>Media Contacts<\/b><br \/><span class=\"xn-person\">Jessica Wade Pfeffer<\/span> | 305-804-8424 | <a target=\"_blank\" href=\"mailto:jessica@jwipr.com\" rel=\"nofollow\">jessica@jwipr.com<\/a><br \/><span class=\"xn-person\">Tyler Sminkey<\/span> | 786-390-8510 | <a target=\"_blank\" href=\"mailto:tyler@jwipr.com\" rel=\"nofollow\">tyler@jwipr.com<\/a> <\/p>\n<p>Logo\u00a0&#8211; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3391412-1&amp;h=2768983550&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1624680%2FBanesco_USA_Logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1624680%2FBanesco_USA_Logo.jpg\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/1624680\/Banesco_USA_Logo.jpg<\/a> <\/p>\n<p>SOURCE  Banesco<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">MIAMI<\/span>, <span class=\"xn-chron\">Dec. 15, 2021<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212;\u00a0<b>Banesco <span class=\"xn-location\">USA<\/span> <\/b>announces it is an approved participant in the U.S. Department of the Treasury&#8217;s <b>Emergency Capital Investment Program (ECIP). <\/b>Banesco <span class=\"xn-location\">USA<\/span> is eligible to receive an ECIP investment in an amount up to <span class=\"xn-money\">$237.5 million<\/span>, which will enable the bank to increase lending and further provide a positive financial impact to the small and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":97405,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-97404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/97404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=97404"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/97404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/97405"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=97404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=97404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=97404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}