COMMUNITY FIRST GUAM FEDERAL CREDIT UNION

COMMUNITY FIRST GUAM FEDERAL CREDIT UNION 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 653 PPP loans totaling $30.3M, representing approximately 0.01% of all loans nationwide.

COMMUNITY FIRST GUAM FEDERAL CREDIT UNION served borrowers across 1 state. The largest concentration of activity was in Guam, where the lender originated 653 loans totaling $30.3M.

The average loan size for this lender was $46,450. 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 COMMUNITY FIRST GUAM FEDERAL CREDIT UNION were: HAEVICHI HOSPITALITY GUAM INC. (GU) — $1,816,383; GUAM X RAY (GU) — $1,190,462; LOTTE HOTEL GUAM LLC (GU) — $1,130,000; and QUICK SERVICE FOODS INC (GU) — $821,170.

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.