GEDA supports the development and expansion of businesses with an array of programs and initiatives supporting small business growth and helping entrepreneurs maximize opportunities for success.

For more information, please contact Gloria Molo at 671.647.4332 ext 151

Loan Programs

Agriculture Development Fund (ADF) 

The ADF loan program is designed to aid in the development of locally produced agriculture products.  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 financing for working capital needs and to provide funding for the purchase of supplies and inventory. 

Eligibility Requirements

  1. Individuals must be U. S. Citizens or permanent resident aliens who are residents of Guam for at least 3 years.
  1. Applicants must obtain a written certification and recommendation from the Department of Agriculture and/or 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.
  1. 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
  1. Applicants must be a registered business and have a valid Guam business license.
  1. Declination letters ARE NOT REQUIRED.

Maximum Loan Amount/Line of Credit

$50,000.00

Terms

Interest rate is fixed at 4%

Eligible Use Of Funds

  • Purchase furniture, fixtures, equipment
  • Leasehold improvements
  • Working Capital

Fees & Charges

Application Fee: $20

Due at time of submission

Processing Fee: $100

Due at loan closing

Credit Report: $10

Due at time of submission for every shareholder owning 20% or more

UCC 1:   $10

Determination made during underwriting and if applicable, will be due at loan closing

UCC 3:   $10

Determination made during underwriting and if applicable, will be due at loan closing

Loan Fee: 2% of loan amount

Guam Recovery Loan Program (GRLP)

The purpose of the Guam Recovery Loan Program is to provide financial assistance through loans and loan guaranties to private enterprises and industries, thus promoting the economic develop of Guam. The Guam Economic Development Authority (GEDA), a public corporation, was charged with assisting in the implementation and administration of GRLP.

This program is targeted at businesses that are engaged or about to engage in activities in the areas of agriculture, fishing, manufacturing, tourism, and their support industries. GRLP enables start-ups and existing businesses to secure long-term financing for the acquisition of long-term fixed assets, working capital needs and to provide funding for the purchase of supplies and inventory. Program to remain in effect through December 31, 2029.

Eligibility Requirements

  1. One written denial from local, private, or commercial lending institutions.
  2. Individuals must be a U.S. Citizen or permanent resident aliens who are residents of Guam.
  3. Project must fit at least one of the following loan categories:
    • Agriculture
    • Fishing
    • Manufacturing
    • Tourism
    • Support industries for the above entities
  4. 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
  5. Applicants must be a registered business and have a valid Guam business license.

Types of Financial Assistance

  • Direct Loans
  • Lines of Credit

Maximum Loan Amount

  • $1,200,000
  • CEO/Administrator approved up to $100,000

Terms

  • Full collateral 1% about U.S. Treasury Index Rate.
  • Interest rate is fixed to 2% 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

Application Fee: $20

Due at time of submission

Processing Fee: $100

Due at loan closing

Credit Report: $10/ea

Due at time of submission for every shareholder owning 20% or more

UCC 1:   $10/ea

Determination made during underwriting and if applicable, will be due at loan closing

UCC 3:   $10/ea

Determination made during underwriting and if applicable, will be due at loan closing

Origination Fee:  2% of loan amount

BUSINESS RESOURCES 

Guam Small Business Development Center – https://www.pacificsbdc.com/locations/guam-sbdc 

 

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