The Guam Economic Development Authority, in partnership with Moylan's Insurance Underwriters, is rolling out a new program to give small and emerging contractors the backing they need to compete for bigger projects.

The Surety Bond Assistance Program provides qualified businesses with access to bid, payment, and performance bonds, often a major hurdle for local contractors.

With GEDA guaranteeing up to 30% of a contract, the initiative is designed to open more doors, strengthen Guam's workforce, and keep project dollars circulating in the island’s economy.

Governor Lou Leon Guerrero says more businesses in construction means more jobs for local residents, while Lt. Governor Josh Tenorio calls the program another example of the good that can happen when Adelup, Washington, and private industry come together.

Interested contractors can apply by visiting investguam.com or contacting GEDA directly.