COVID relief funds are finally beginning to come in not only for health care needs but for small businesses.
Gov. Lou Leon Guerrero announced on Wednesday that the Small Business Administration has confirmed that 94 businesses on Guam and in the CNMI have qualified for more than $20 million in the SBA’s paycheck-protection program. And 75 percent of that funding has to be spent on keeping workers employed.
“About 15 million must be spent on maintaining private-sector payroll, including health and retirement benefits or re-hiring previously laid-off employees. I am told that this is merely the first batch and that others may be on the way soon,” the Governor said.
The Governor also announced that another 20 local businesses have received SBA economic-injury grants of up to $10,000 to help mitigate the impacts of COVID-19.
For more information about the SBA’s COVID relief programs contact the Guam District branch office at 472-7277.