14 Sep 2012

Guam small businesses to get financial boost from federal government

1:24 pm on 14 September 2012

Guam's Congresswoman, Madeleine Bordallo, says the U.S. Department of Agriculture has awarded a 350 thousand US dollars loan to the Pacific Island Development Bank to re-lend to local businesses.

She says these funds will provide low-interest loans to public and non-profit organizations for business and community development in Guam.

It is part of the US Government's ongoing effort to bolster economic opportunity for rural residents and businesses.

Congresswoman Bordallo says the loan will boost the local economy and help small business owners create much-needed jobs.