Guam
State Resources
Guam is a small island (30 miles long and nine miles wide) located in the Pacific Ocean. This unicorporated U.S. territory plays an important role to the U.S military with both the Andersen Air Force base and Naval Base Guam located here, along with the Marine Corps Base Camp Blaz. The population is relatively small and estimated to currently be about 169,000 people. From an economic development perspective, the Guam Economic Development Authority (GEDA) has the goal “to develop a sound and sustainable economy through innovative programs that preserve and promote local culture, economic opportunities and quality of life.” GEDA serves “as the general concierge between potential investors, the government of Guam and other private partners. Through its services and programs, GEDA aims to assist potential investors in the successful establishment of their business in Guam. GEDA manages tax incentive, finance and other programs that cater to a variety of industries and activities.” Guam appears to have had its first SBIR/STTR award in 2024.
Small Business Credit Initiative (SSBCI) Loan Program
GEDA administers the federal funds received from SSBCI though the Loan Guarantee Program and a Collateral Support Program.
Loan Guarantee Program
The Loan Guarantee Program enables a small business to obtain term loans and lines of credit to help them grow and expand their business. GEDA guarantees loans made by participating lenders to Guam small businesses in the form of a cash deposit not to exceed twenty percent (20%) of the total enrolled loan amount.
Collateral Support Program
Collateral Support Program is designed to enable financing that might otherwise be unavailable due to a collateral shortfall. The GEDA pledges cash to cover the collateral shortfall of a loan in order to enable financing that otherwise might not be available to small businesses which have a strong credit profile except for a collateral shortfall. GEDA will pledge cash collateral of up to 49.9% of the loan amount.
