Guam § 50307 - Application for Program Loans.
Full text of Guam Guam Code Annotated § 50307 — Application for Program Loans., with citation guidance and answers to common questions.
§ 50307. Application for Program Loans.
Applicants who are owners of mid-size businesses shall be eligible for a loan of up to One Hundred
Thousand Dollars ($100,000) from the Guam Economic Development Authority. The loan shall have the
following limitations:
(a) the loan shall be used to subsidize general operating expenses, including, but not limited to,
the payment of rent, employee salaries and benefits, supplies, utilities and other necessary expenses
for implementation of business recovery plan, such as relocation expenses and diversification of
products and services;
(b) the loan shall be payable in a period not to exceed ten (10) years;
(c) the interest rate on the loan shall be based on the U.S. Treasury Index Rate plus up to four
percent (4%);
(d) interest only payments shall be allowed for the duration of the construction period and six (6)
months after the completion of the project; and
(e) the loan is non-renewable.
Frequently Asked Questions About Guam § 50307
What does Guam Code Annotated § 50307 cover?
Section 50307 ("Application for Program Loans.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 50307?
A common citation format is "Guam Code Annotated § 50307" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 50307 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.