HAGATNA, Guam-The Guam Small Business Administration's full year report issued yesterday shows that Bank of Guam surpassed all local banks as the principal generator of small business loans in Guam, generating over 38 percent of SBA loans generated in Guam for fiscal year 2012.
The bank also leads in the number of loans, 40 percent, of loans approved under the SBA loan guaranty through fiscal year ending Sept. 30, 2012.
Bank of Guam board chair, president, and chief executive officer Lourdes A. Leon Guerrero said, “Being named SBA's No. 1 local bank in generating small business loans in Guam on the occasion of our 40th anniversary reminds us of our founding commitment to local and responsible economic growth and success. Congratulations are in order for Esther Reyes, who leads our SBA lending team, and who was Guam's 2010 SBA Loan Officer of the Year. We are humbled by the support over these four decades and will continue to work for and earn the trust of our community. We are proud to share this wonderful success with our community.”
Bank of Guam continues its SBA status as a member of the SBA Preferred Lender Program, Certified Lender Program, and Patriot Express. The SBA Preferred Lender Program provides the highest level of autonomy to designated banks, while Patriot Express is a loan initiative for veterans and members of the military community wanting to establish or expand small businesses. (BoG)