TAMUNING — The Guam Economic Development Authority has received the second tranche of federal small business credit funding under the State Small Business Credit Initiative, totaling approximately $19.5 million, GEDA announced Wednesday.
The release follows GEDA’s deployment of its initial allocation of approximately $19 million and brings Guam closer to fully drawing down its $58.6 million total SSBCI award under the Leon Guerrero-Tenorio Administration.
The funding supports three core programs: the Loan Guarantee Program, the Surety Bond Assistance Program, and the Destinu Guåhan Venture Capital Fund.
“When we launched SSBCI, our priority was clear: ensure that no viable Guam business is left behind due to lack of capital,” Gov. Lourdes A. Leon Guerrero said in a statement. “This second tranche is strong validation of our progress and a signal that Guam’s economy is not only recovering but growing stronger. By aligning federal resources with local innovation, we are building a more resilient and opportunity-driven economy.”
Lt. Gov. Joshua F. Tenorio said access to capital fuels economic growth. “This additional funding allows us to sustain momentum across our communities while helping businesses modernize, expand and compete,” Tenorio said. “Beyond financing, these programs are creating quality jobs and strengthening Guam’s long-term economic foundation.”
SSBCI programs are designed to leverage private sector participation, with a goal of generating $10 in private lending for every $1 of federal funding. With the second tranche, GEDA expects to catalyze nearly $200 million in total private credit and investment over the life of the program.
The SSBCI Loan Guarantee Program has supported 46 local businesses to date by unlocking private financing through partnerships with Bank of Guam, Bank Pacific, Community First, and PFC Finance. The program guarantees up to 75 percent of a loan, reducing lender risk and expanding access to capital.
The SSBCI Surety Bond Assistance Program recently achieved its first enrollment through First Net Insurance Company, offering guarantees of up to 30 percent to help small contractors compete for larger contracts.
“Securing this second tranche is a strong vote of confidence from the U.S. Treasury in GEDA’s ability to deploy funds effectively,” GEDA CEO and Administrator Christina D. Garcia said in a statement. “We have already seen these programs help businesses access capital, expand operations, and pursue new opportunities. From a mom-and-pop shop securing its first equipment loan to a tech startup ready to scale globally, this new injection ensures the momentum of Guam’s economic expansion remains uninterrupted.”
A significant portion of SSBCI funding will continue to support the Destinu Guåhan Venture Capital Fund, which targets high-growth industries such as technology, agriculture, and manufacturing to help diversify Guam’s economy. Direct investments in scalable businesses are intended to attract additional private investment and position Guam as a regional innovation hub.
“GEDA’s strategy goes beyond traditional financing,” GEDA Board Chairwoman Siska Hutapea said in a statement. “Through Destinu Guåhan Venture Capital Fund, we are investing in innovation and diversification to strengthen Guam’s economic future. This second tranche allows us to expand that vision and support the next generation of transformative businesses.”
Small business owners interested in the SSBCI Loan Guarantee, Surety Bond Assistance, or Venture Capital programs can visit investguam.com or contact one of the participating partners to begin the application process.