Guam Small Business Pandemic Assistance Grant
Of the total Coronavirus Relief Funds, the Leon Guerrero Tenorio Administration has set aside up to $20 million for direct assistance to small businesses experiencing business interruption due to the COVID-19 pandemic. The program is administered by the Guam Economic Development Authority.
Stakeholder groups consulted in the creation of this program, were as follows:
- Guam Chamber of Commerce
- Guam Women’s Chamber of Commerce
- Korean Chamber of Commerce
- Chinese Chamber of Commerce of Guam
- Guam Hotel and Restaurant Association
Coronavirus Relief Options available to Small Businesses
Funding Options
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.
Coronavirus (COVID-19): Small Business Guidance & Loan Resources
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.
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Additional Program Information
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
The SBA resumed accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020 at 10:30am EDT.
If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
- Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
Terms
- Up to $25,000
- Fast turnaround
- Will be repaid in full or in part by proceeds from the EIDL loan
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans.
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