- Two written denials from private, commercial lending institutions.
- Individuals must be U. S. Citizens or permanent resident aliens who are residents of Guam.
- Project must fit at least one of the following loan categories:
- Support industries for the above entities
- 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.
TYPES OF FINANCIAL ASSISTANCE
- Direct Loans
- Line of Credit
MAXIMUM LOAN AMOUNT
- $1.2 Million
- TBD by risk factor & use of funds
- Interest rate is up to 4% above U.S. Treasury Index Rate.
USE OF FUNDS
- Start-Up Costs
- Working Capital
- Leasehold improvements
- Furniture, fixtures & equipment
- Purchase, construction, renovation or improvements of an eligible place of business
- Fees associated with construction of business
FEES & CHARGES
- Processing & Legal fees may be applicable