On March 11, 2021, the American Rescue Plan Act (ARPA) became public law (P.L. 117-2) to assist the states and territories recover and rebuild their economies due to the effects of the 2019 Novel Coronavirus (COVID-19).
The Honorable Lourdes A. Leon Guerrero, Governor of Guam, and the Honorable Joshua F. Tenorio, Lt. Governor of Guam, has directed the Guam Economic Development Authority (GEDA) in establishing the Guam Small Business Pandemic Assistance Grant 2021 (PAG2021) Program.
While the government of Guam is waiting for the final guidance from the U.S. Treasury on how the funds from the ARPA may be utilized, GEDA would like to encourage eligible businesses to familiarize themselves with the eligibility requirements and application supporting documentation in advance to ensure a smooth and efficient application.
WHO CAN APPLY?
The following list of eligible and ineligible entities are subject to change upon the issuance of the final guidance from the U.S. Treasury.
Eligible entities shall meet all of the following:
- Businesses with Business Interruption (i.e. business loss);
- Business that has eligible gross receipts of ten thousand dollars ($10,000.00) or more based on their annual or annualized BPT (GRT) filings for 2019;
- U.S. SBA small business size standards matched to the North American Industry Classification Code; and
- Business is licensed to do business in Guam and files taxes in Guam.
- Businesses with eligible gross receipts LESS than ten thousand dollars ($10,000.00) based on their annual or annualized BPT (GRT) filings for 2019;
- Business that were once open and are no longer in operation;
- Commercial landlords;
- Passive Investment Holdings;
- Non-profit Organizations;
- Government or Private Hospitals;
- U.S. SBA small business size standards not matched to the North American Industry Classification Code; and
- Businesses operating in Guam that are part of a national/international corporation that is wholly owned by said corporation.