HAGÅTÑA (Special Advertising Feature) — Bank of Guam announces payment assistance options to borrowers impacted by recent federal and CNMI government shutdowns and austerity measures. Staying flexible during times of economic uncertainty is vital — and remains fundamental to the Bank’s mission as a responsible and compassionate community partner.
“As The People’s Bank, being here for our communities when they need us most is core to who we are. Through these trying times and in the days ahead, we stand by this commitment. While we remain hopeful that these measures are temporary, we know that remaining flexible during these times will have a lasting impact on our people and our families,” said Joaquin P.L.G. Cook, BoG president and chief executive officer.
Who is eligible?
Borrowers eligible for payment assistance include:
• CNMI government employees and contractors
• Federal employees and contractors
• Lessors to the federal government (e.g., Marshall Islands landowners)
• Local government entities
• Recipients of Local Use Agreements
Eligible loan types
• Commercial loans
• Mortgage loans
• Consumer loans
• Auto loans
How to apply
Visit bankofguam.com and follow the instructions to submit the full name and documentation of income reduction or financial disruption to the appropriate lending group:
• Commercial loans: commercialbanking@bankofguam.com
• Mortgage loans: mortgagebanking@bankofguam.com
• Consumer loans: consumerbanking@bankofguam.com
• Auto loans: automobilebanking@bankofguam.com
Applicants will be asked to:
• Submit documentation verifying income reduction or financial disruption
• Undergo eligibility evaluation by our loan officers
• Complete all necessary documentation and reporting for forbearance agreements
Please visit bankofguam.com for more details.
