Nearly 1,000 Small Businesses Supported Financially Since January 2022
Hagåtña, Guam – The Leon Guerrero-Tenorio Administration has provided and paid over $60.3 million in direct relief to 925 small businesses through the Local Employers Assistance Program (LEAP) since January 2022 with the Guam Legislature appropriating $25 million. The program was established by Governor Lou Leon Guerrero through Executive Order 2021-25 and provides loans to small businesses affected by the pandemic.
“Since the earliest days of the pandemic, our Administration made delivering equitable relief to hard-hit small businesses a top priority,” said Governor Lou Leon Guerrero. “Through several locally-implemented programs, we provided more than $110 million to 2,000 small businesses and over $60.3 million to 925 businesses through LEAP alone. When the program neared its budget cap, we increased our support and invested millions more in supplemental aid. To our entire business community and private sector workforce: thank you for your valued service to the people of Guam. We will always have your back.”
“By focusing on eliminating our government’s deficit, nurturing a business-friendly environment, and alleviating small businesses while combatting the pandemic, we secured a stable economic foundation for our island and created the conditions for unprecedented job creation,” said Lt. Governor Josh Tenorio. “Our administration has been committed to strengthening the state of our economy and fostering the resilience of our working families, and we remain dedicated to driving our recovery while delivering continued relief today.”
For more information, visit investguam.com/LEAP or contact the Guam Economic Development Authority at 671-647-4332.
For a complete listing of grant awards/Loans as of 6/17/2022, please click here.