Guam Business Resource Guide

turity is less than 7 years, and Prime Plus 4.75 percent,
if the maturity is 7 years or more.
The program criteria include the small business
owners, partners and/or principals must be of good
character and have good credit. Loan proceeds
must be used exclusively for business-related purposes.
The vast majority of businesses are eligible
for financial assistance from the SBA.
However, applicant businesses must operate for
profit; be engaged in, or propose to do business in,
the United States or its possessions; have reasonable
owner equity to invest; and use alternative
financial resources first including personal assets.
Some businesses may be considered ineligible for
this loan program to include businesses in which
the business cannot be engaged in illegal activities,
loan packaging, speculation, multi sales distribution,
gambling, investment or lending, or where
the owner is on parole.
6.6 USDA-FSA FINANCIAL ASSISTANCE PROGRAM
Farm Service Agency (FSA) makes direct and guaranteed
farm ownership (FO) and operating loans
(OL) to family-size farmers and ranchers who cannot
obtain commercial credit from a bank, Farm
Credit System institution, or other lender. FSA
loans can be used to purchase land, livestock,
equipment, feed, seed, and supplies. These loans
can also be used to construct buildings or make
farm improvements.
"Direct" farm loans are made by FSA with U.S. Government
funds. FSA also services these loans and
provide loan customers with supervision and credit
counseling so they have a better chance for success.
Farm Ownership, Operating, Emergency and
Youth loans are the main types of loans available
under the Direct program Direct loan funds are also
set aside each year for loans to minority applicants
and beginning farmers.
Contact Information:
Laurie F Talbo, Farm Loan Specialist
Guam County FSA Office
400 Route 8, Suite 306
Maite, GU 96910
Ph: (671) 472-7359
Fax: (671) 472-7580
Website: www.fsa.usda.gov
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