BANK OF GUAM

BANK OF GUAM was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 1,420 PPP loans totaling $150.1M, representing approximately 0.01% of all loans nationwide.

BANK OF GUAM served borrowers across 10 states. The largest concentration of activity was in Guam, where the lender originated 1,032 loans totaling $109.4M. Other states with significant activity included Northern Mariana Islands, California, Kansas.

The average loan size for this lender was $105,692. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.

Among the largest named borrowers that received loans through BANK OF GUAM were: GLOBAL FOOD SERVICES LLC (GU) — $3,543,445; LEOPALACE GUAM CORPORATION (GU) — $2,200,242; MARIANAS PROPERTIES L.L.C (GU) — $2,000,000; and SMITHBRIDGE GROUP PTY. LTD. (GU) — $1,877,487.

PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.

Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.