Guam State Small Business Credit Initiative (SSBCI)
In January 2023, the Leon Guerrero-Tenorio Administration announced that Guam was approved for funding from the State Small Business Credit Initiative (SSBCI). Guam will be receiving $58.6 million to operate three programs: a loan guarantee, a collateral support, and an equity/venture capital program. The equity/venture capital program, allocated $10 million, provides seed, early and growth stage equity investment to Guam-based startups.
Melanie Mendiola
Chief Executive Officer / Administrator
“The U.S. Treasury has provided this funding to support small business capital and technical assistance programs as a response to the economic impacts of the COVID-19 pandemic. The Leon Guerrero-Tenorio Administration has designated the team at GEDA to administer the program and disburse funds to qualified small businesses on Guam. This will be accomplished through the Destinu Guåhan Venture Capital Fund which provides matching investment in proven, professionally managed private equity and venture capital projects located on Guam that commit to aggressive and viable deal prospecting and direct investment in Guam companies. We look forward to working with our local small business community and qualified lenders to continue building positive momentum for Guam’s emerging economy.”
Who is encouraged to participate?
- Companies starting up, existing or relocating to Guam
- Businesses with less than 500 employees
- Corporations, partnerships, and sole proprietorships (including non-profits and cooperatives)
- Businesses with proprietary or protectable intellectual property
- Businesses in the seed, early stage, later stage, or expansion period of venture capital finances
- Businesses that fit into at least one of Destinu Guåhan Venture Capital Fund’s focus areas – modernized agriculture and aquaculture, technology, healthcare/pharmaceutical, manufacturing startups and export opportunities for Guam companies
- Businesses that bring 50% equity stake to the proposed transaction
- Businesses that posses a business plan with a 10 year exit strategy for Destinu Guåhan
