SBA LOANS TOP $5 MILLION ON GUAM AFTER TYPOON

HAGATNA, Guam (Pacific Daily News, Jan. 7) - Less than two weeks after its post-Supertyphoon Pongsona disaster assistance opened, the U.S. Small Business Administration has approved more than $5 million in low-interest disaster loans to Guam homeowners, renters and businesses.

"We are very proud of this accomplishment in such a short period of time," said Kenneth Q. Lujan, branch manager of SBA's Guam office. "It's a testament to the commitment SBA’s disaster assistance team has always demonstrated toward the residents of Guam, and I know their dedicated effort will continue until the job is done," he added.

Lujan said as additional property owners continue to seek SBA assistance, the total of loan approvals would rise.

The SBA is the federal government's primary source of funds for long-term, private-sector disaster recovery, he said.

"For disaster damage to private property owned by individuals, families, and businesses of all sizes that are not fully covered by insurance, the basic form of federal assistance is a low-interest disaster loan from SBA," Lujan said.

Lujan urged individuals and businesses with property damage or economic losses resulting from Supertyphoon Pongsona to meet with an SBA representative at one of the three disaster recovery centers.

"You don't have to wait for your insurance settlement or obtain a contractor's estimate to apply for SBA disaster assistance," he said.

January 7, 22003

Pacific Daily News: www.guampdn.com 

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