SBA center in Guam to relocate

SACRAMENTO, Calif—The U.S. Small Business Administration will relocate its Guam Business Recovery Center from the SBA Guam branch office to the University of Guam Pacific SBDC beginning Monday, July 17, at 9am.

“SBA customer service representatives and Guam SBDC counselors will now be available at the center to meet with business owners to explain how an SBA disaster loan can help finance their recovery,” said director Tanya N. Garfield of the SBA’s Disaster Field Operations Center-West yesterday. “They will answer questions about SBA’s disaster loan program, explain the application process and help each business owner complete their electronic loan application,” Garfield said.

SBA opened the BRC to provide personalized assistance to Guam businesses affected by Typhoon Mawar that occurred May 22 — 29.

Garfield said that Guam SBDC business counselors are available to provide business assistance to clients on a wide variety of matters designed to help small business owners re-establish their operations, overcome the effects of the disaster and plan for their future. Services include assessing business working capital needs, evaluating the business’s strength, cash flow projections, and review options with the business owner to help them evaluate their alternatives and make decisions that are appropriate for their situation.

No appointment is necessary.

SBA’s Guam Business Recovery Center in Hagatna will permanently close on Friday, June 14, at 6pm, and move to the Pacific SBDC site at the Jesus & Eugenia Leon Guerrero Business and Public Administration Building of the University of Guam starting Monday, July 17, at 9am. Regular hours from Mondays to Fridays, 9am to 6pm.

According to Garfield, businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. These loans cover losses that are not fully covered by insurance or other recoveries.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any property damage.

For business owners who are unable to visit the Business Recovery Center, they may apply online using SBA’s secure website at https://disasterloanassistance.sba.gov/.

SBA representatives also continue to meet with business owners and residents at disaster recovery centers located throughout the impacted area. For a list of locations, or to receive additional disaster assistance information, visit SBA’s website at www.sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for property damage is July 27, 2023. The deadline to apply for economic injury is Feb. 28, 2024. (PR)