The program’s target market is limited to individuals, corporations and partnerships that engage in commercial agricultural businesses. Activities include the areas of agriculture, aqua-culture, horticulture, mari-culture, commercial fishing and other related areas. The program enables bonafide farmers and commercial farming enterprises to obtain a line of credit financing for working capital needs and to provide funding for the purchase of supplies and inventory.
- Individuals must be U. S. Citizens or permanent resident aliens who are residents of Guam for at least 3 years.
- Applicants must obtain a written certification and recommendation from the Department of Agriculture and UOG Agriculture Natural Resources (ANR), Cooperative Extension Service (CES) identifying them as a “bonafide” farmer or commercial farming enterprise. Bonafide farmer(s) are individual(s) who are registered with the Department of Agriculture who commercially grow and harvest agricultural products for profit.
- The business must meet one of the following criteria:
- Creation of employment
- Replacement of imports
- Reduction of consumer prices
- Creation of a vitally needed facility
- Applicants must be a registered business and have a valid Guam business license.
- Declination letters ARE NOT REQUIRED.
- Interest rate is fixed at 4%
- Purchase furniture, fixtures, equipment
- Leasehold improvements
- Working Capital
- Business and personal assets
- Personal guarantees
- Real Property
- Processing & Legal fees may be applicable