HAGÅTÑA (The Guam Daily Post) — Relief in the amount of $60.3 million through the Local Employers Assistance Program has been paid out since January 2022, the governor’s office stated in a press release.
Almost 1,000 small businesses on Guam have been able to operate because of this financial support from the Leon Guerrero-Tenorio administration. The Guam Legislature appropriated $25 million to the program to provide financial support in the form of loans to benefit local small businesses. The program was established by Gov. Lou Leon Guerrero through an executive order to provide loans to small businesses affected by the pandemic.
“Since the earliest days of the pandemic, our administration made delivering equitable relief to hard-hit small businesses a top priority,” said Leon Guerrero. “Through several locally implemented programs, we provided more than $110 million to 2,000 small businesses and over $60.3 million to 925 businesses through LEAP alone. When the program neared its budget cap, we increased our support and invested millions more in supplemental aid. To our entire business community and private sector workforce: Thank you for your valued service to the people of Guam. We will always have your back.”
The nearly 1,000 small businesses assisted through this relief program range from restaurants, tour companies and others which had trouble operating after the pandemic, the administration said in the release.
“By focusing on eliminating our government’s deficit, nurturing a business-friendly environment, and alleviating small businesses while combatting the pandemic, we secured a stable economic foundation for our island and created the conditions for unprecedented job creation,” said Lt. Gov. Josh Tenorio. “Our administration has been committed to strengthening the state of our economy and fostering the resilience of our working families, and we remain dedicated to driving our recovery while delivering continued relief today.”
The list of small businesses provided with the loans can be viewed at investguam.com/LEAP
The Hilton Guam Resort & Spa held a job fair on June 6, offering opportunities to the community to join the hotel’s team under several job descriptions. The governor’s office recently announced that more than $60 million has been granted to local businesses including those reliant on the tourism industry in order to help subsidize losses caused by the Covid-19 pandemic.
