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Banesco USA grants a $9 Million loan to Econo Sierra Bayamón

San Juan, Puerto Rico (May 15, 2025) – Banesco USA granted a $9 million loan to Store Management System, LLC, headquartered in the municipality of Comerío, for the purchase and remodeling of the Econo supermarket in Sierra Bayamón.

The supermarket will have a total of 62 job positions, among current and new jobs. Approximately $2 million from the transaction will be allocated to remodel the store and provide new services that improve the consumer experience, thus creating a unique destination where they can supply all their dietary needs, such as: cafeteria, bakery, deli, frappes, and online delivery and pickup of orders through the Econo To Go application.

“Banesco continues to contribute to the local commercial sector through ECIP (Emergency Capital Investment Program of the U.S. Department of the Treasury), promoting the creation of jobs and economic activity. We are proud to support the expansion plans of local entrepreneurs for the benefit of our communities,” said Maritza Abadía, President of Banesco USA in Puerto Rico.

Juan Carlos Agosto, Chief Executive Officer of Store Management System LLC, said that “our company is very grateful for the vote of confidence that Banesco USA has given us by granting this financing. Banesco’s personalized customer service, agility and innovative products and services were key to deliver the loan needed for this expansion. The Econo supermarket in Sierra Bayamón serves several surrounding communities and our plan is to offer new services that complement the experience of grocery shopping.”

Banesco USA has originated over $2 billion of ECIP qualified and deep impact loans to support the growth of minority-owned, small business-owned, and customers from underserved communities in South Florida and Puerto Rico.

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PHOTOCAPTION:
Standing up, from left to right: Juan Carlos Agosto, Chief Executive Officer Store Management System LLC; Leonardo Maldonado, SVP Relationship Manager Banesco USA; and Javier Agosto, Owner of Oiremoc LLC.
Sitting, from left to right: Juan Agosto, Co-owner Store Management System LLC; Maritza Abadía, President Banesco USA Puerto Rico; Efigenio Rivera, Co-owner Store Management System LLC.

About Banesco USA
Founded in 2006 and based in Miami, Banesco USA is an independent Florida state-chartered bank with $4.4 billion in assets as of December 31, 2024, with 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 serves 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.

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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