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A public corporation specializing in small business lending faced financial restructuring and the need for capital to continue its operations. Our firm guided the client through a comprehensive restructuring plan and helped secure $109 million in federal funding through the SSBCI program. The result was a recapitalized institution ready to support small businesses and contribute to Puerto Rico's economic recovery.
Client Overview
✸ Industry: Commercial Lending / Public Corporation
✸ Client Description: A public corporation specializing in providing commercial loans, loan guarantees, and capital to small and medium-sized enterprises (SMEs) in Puerto Rico. The institution plays a key role in supporting the private sector economy and promoting entrepreneurial growth.
✸ Established: The client was established in 1985 by virtue of Act 22-1985 with a mission to complement the private banking sector by offering financial services to Puerto Rican entrepreneurs.
✸ Location: Puerto Rico
✸ Duration of Engagement: 2021- Present
Solution
Our firm led the financial restructuring process and helped the client secure a $109 million allocation under the State Small Business Credit Initiative (SSBCI). The solution included:
✸ Financial Restructuring: We designed and implemented a comprehensive business plan aimed at transforming EDB’s financial structure, including reducing obligations and restoring capital strength.
✸ Program Design: Our team played a key role in designing a sustainable lending model for the future, ensuring that the funds allocated under the SSBCI program were used efficiently to support the growth of small businesses in Puerto Rico.
✸ Grant Management: We assisted the client in obtaining SSBCI federal funds and developed an implementation plan to deploy these funds effectively.
✸ Stakeholder Coordination: We collaborated with government officials, financial
advisors, and regulatory bodies to facilitate the restructuring and secure the necessary approvals for the recapitalization effort.
Outcome
Our efforts resulted in the following key outcomes:
✸ Financial Restructuring: We designed and implemented a comprehensive
business plan aimed at transforming EDB’s financial structure, including reducing obligations and restoring capital strength.
✸ Program Design: Our team played a key role in designing a sustainable lending model for the future, ensuring that the funds allocated under the SSBCI program were used efficiently to support the growth of small businesses in Puerto Rico.
✸ Grant Management: We assisted the client in obtaining SSBCI federal
funds and developed an implementation plan to deploy these funds effectively.
✸ Stakeholder Coordination: We collaborated with government officials, financial
advisors, and regulatory bodies to facilitate the restructuring and secure the necessary approvals for the recapitalization effort.
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