P.R. Laws tit. 23, § 277
In addition to the other powers herein granted, the Company is hereby authorized and empowered to make loans to any person, firm, corporation, or other organization when the amount of such loans is to be used to further the government purpose of developing the economy of Puerto Rico and especially its industrialization.
In making such loans, preference and priority shall be given, where other factors are equal, to enterprises governed by cooperative, governmental or other nonprofit organizations, or to enterprises which give the greatest return in terms of human welfare in Puerto Rico. The interest rate, maturity, and other terms of loans made by the Company and the character and value of the security to be required for granting them, shall be determined and fixed by the Company. No loan shall be made unless from business experience and the facts and circumstances of each case, the Company can reasonably predict that the enterprise which is to receive the loan will be able to repay the same, and that the said loan will be repaid.
History —May 11, 1942, No. 188, p. 934, § 7; June 22, 1957, No. 86, p. 420.