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Banesco USA Extends Financing to Maritza’s Car Rental in Vieques

San Juan, Puerto Rico (February 15, 2024) – In order to continue with its strategy of supporting local entrepreneurs in Puerto Rico through the ECIP program (Emergency Capital Investment Program of the U.S. Department of the Treasury), Banesco USA provided financing to Claritza Navarro Avillán (“Ms. Navarro”), a business owner from Vieques, to acquire a commercial property in Vieques and establish a new Maritza’s Car Rental location that will serve visitors to the island municipality.

Maritza’s Car Rental will acquire the property located at #358 Antonio Mellado Street in Isabel II with the $440,000 loan and will continue to expand its services as a result of the tourism boom on the Island Municipality. Currently, Vieques receives between 2 to 5 thousand visitors per year.

Maritza’s Car Rental has a fleet of 120 vehicles, which includes a variety of makes and models, ranging from Jeep Wrangler, Ford Bronco and more economical models such as Kia Soul, Kia Sorento and Kia Seltos. It provides free pick-up and drop-off service to the airport and pier.

“The economy of Vieques is primarily based on tourism and Maritza’s Car Rental is one of the companies that support this important economic activity on the Island Municipality. We are proud to support Claritza, an entrepreneur who has demonstrated her ability and commitment to contribute to the economy of Vieques through the creation of jobs and economic activity,” said Maritza Abadía, Executive Vice President and Puerto Rico Country Manager for Banesco USA.

Ms. Navarro, a well-known Vieques entrepreneur, also owns several properties in Vieques dedicated to short-term rentals, another component that supports tourism activity on the Island. “I am very grateful for the support of the customers. Thanks to them, the company enjoys an excellent reputation in Vieques for its modern fleet of vehicles and for the excellent service we offer,” said Ms. Navarro.

Banesco USA has originated over $1.09 billion in ECIP loans as of year-end 2023 from the Treasury Department’s $250 million investment through the Emergency Capital Investment Program (ECIP), which supports the growth of minority-owned businesses, small businesses, as well as clients from underserved communities in Puerto Rico.

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About Banesco USA
Founded in 2006 and based in Miami, Banesco USA is an independent, Florida state-chartered bank, with $3.81 billion in assets as of December 31, 2023, has six locations between South Florida and Puerto Rico, and a Loan Production and Deposit Production Office in Palm Beach County. Banesco USA is proud to serve the commercial real estate sector, small and middle-market businesses, as well as professionals who work in the community. The bank services both domestic and international clients as well as operating companies with a suite of products and services delivered with personalized attention to support their financial journeys. For more information, please visit banescousa.com.

Press Release
Contact: Iris González, 787-692-5588
Iris.gonzalez@concordia-communications.com

The information provided by Banesco USA ("we," "us," or "our'') is for general informational purposes only and is not intended as legal, tax, investment, financial or other advice or a substitute for professional advice. The information is general in nature and does not address the circumstances of any particular individual or entity, and is not comprehensive or a complete statement of the matters discussed herein. All information contained herein is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information provided herein. The information provided may contain information from third parties or other sources. We do not warrant, endorse, guarantee, or assume responsibility for the accuracy or reliability of any information offered by third parties. Under no circumstances shall we have any liability to you for any loss or damages of any kind incurred as a result of the use of or reliance on any information provided herein. Your use and reliance on any information provided herein is solely at your own risk.
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