Puerto Rico is a growing economy in the world, and with a growing economy means new and
growing businesses. Growing businesses always need new ways to finance themselves, and that is why we decided to move into the financing market.
The great thing with new businesses that want to grow quickly is that not only do they take out loans to finance their companies, but they also take out loan’s multiple times with the same company. It is a great way to make a constant profit, but you can then increase the total amount while keeping the same interest rate, meaning that profits grow from retaining customers.
That is also what makes the loan market great. When you decide to take out a loan as a company, you use it as an initial boost. When the demand outgrows the supply, a successful first loan means that you will come back for another to help bolster the new demand. That is why you would be willing to accept a higher amount to keep supply above said demand, but you would also accept a higher interest rate.
This is not a practice that we try to make commonplace, however. It would be extremely shady and unethical to always increase terms on retained customers. But we are also a business, so we do what we can to keep profit rates high.
Puerto Rico is a great country, and with a growing economy it allows us the opportunity to bolster that growth however we need. Puerto Rico is also a country that has not experienced a growing economy before for political reasons, but now we have the opportunity everyone is trying to take advantage of it.
It’s a great time to be a business owner in Puerto Rico, but it is a better time to be a loan company!