Our history of serving agriculture and rural communities matters to us at Puerto Rico Farm Credit. Through the years, our commitment to providing competitive financing to farmers has been constant, and will continue to be in the future.
In 1922, the Federal Land Bank of Baltimore opened its Puerto Rico branch to offer services to the agricultural businesses of that time. During that period, sugar, coffee, grapefruit and pineapples were the most lucrative crops.
A sign of its relevance and success, in 1926 the branch commissioned prominent architect Antonin Nechodoma to design its headquarters in Old San Juan in his renowned interpretation of the Prairie School style. Today that building still stands, although it is now property of the Puerto Rican Chamber of Commerce.
By 1934, the branch had grown and taken the name of Puerto Rico Production Credit Association. The Association was part of the significant expansion of the sugar and tobacco industries in the island. In 1941, it offered its first loans to cotton farmers.
For decades the Association had a significant role in the development of local agribusinesses. Its leaders were part of important committees that worked with local government in the development and mechanization of the agriculture industry. The Association evolved to establish new programs, like loans for cars and homes. Iit also provided support to the agricultural community during difficult times. When Hurricane Hugo destroyed crops across the island, the Association established aid programs for its members.
In 1991, the Association established the holding company Puerto Rico Farm Credit, ACA, and maintains the same commitment to local farmers.
With more than 90 years of service, we look to the future with hope. We continue to work collaboratively in favor of farmers, as shown by our alliance with Grupo Guayacán for funding an agricultural award within the EnterPrize business competition.
With every new effort, we demonstrate that Puerto Rico Farm Credit is ready to continue nurturing our communities' agribusinesses for decades to come.
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