Loans available for damaged businesses

by Nick Delgado

Guam - The U.S. Small Business administration is making low-interest working capital loans available to businesses impacted by the fire at the Compadres Mall in Dededo earlier this year. SBA acted under its own authority to declare a disaster following a request from Governor Eddie Calvo.

SBA administrator Karen G. Mills says, "The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist Guam's small businesses with federal disaster loans.  We will be swift in our efforts to help these small businesses recover from the financial impacts of this disaster."

Small, non-farm businesses, small agricultural cooperatives and most private, non-profit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

 The filing deadline to return economic injury applications is January 27, 2012.