Through Executive Order 2020-40, Governor Lou Leon Guerrero established the Small Business Rent Assistance Grant Program.
The purpose of the Small Business Rent Assistance Grant Program is to provide small businesses with rental assistance during the COVID-19 pandemic. Qualifying businesses include food and beverage establishments, brick and mortar retail, and personal services (e.g. salons) who fall under the SBA’s definition of small business.
“Small businesses are the anchor of our economy, and we understand how policies to protect the health of our people have also affected these businesses,” said Governor Lou Leon Guerrero. “As we continue to slow the spread of COVID-19, we hope this grant provides some relief to our small business owners.”
“Business owners across the island have invested time and resources to ensure their businesses are safe for their consumers during a global pandemic. This grant was created to ease some of the financial burdens they have faced because of COVID-19,” said Lieutenant Governor Josh Tenorio.
Applications will be made available tomorrow, November 25, at 8:00 a.m. and can be found on GEDA’s website, investguam.com. The application deadline is December 11 and is subject to fund availability. Businesses must provide, at minimum, a lease statement from their landlord and, if current on rent, evidence of business interruption (BPT’s filed). Awards will equate to two months’ rent or $15,000, whichever is less, to be used for rents paid or unpaid during the pandemic period.
All information except for award amount will be made public, including application status, so applicants may check the status of their award. Completed applications will be processed first-come, first-served.