COAST360 FCU

COAST360 FCU 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 516 PPP loans totaling $18.3M, representing approximately 0.00% of all loans nationwide.

COAST360 FCU served borrowers across 1 state. The largest concentration of activity was in Guam, where the lender originated 516 loans totaling $18.3M.

The average loan size for this lender was $35,558. 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 COAST360 FCU were: CALVO'S INSURANCE UNDERWRITERS, INC. (GU) — $1,441,107; PACIFIC UNLIMITED, INC. (GU) — $715,200; MOYLAN'S INSURANCE UNDERWRITERS, INC. (GU) — $418,095; and MOY SERVICE INC. (GU) — $411,985.

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.