GMH qualifies for SBA loan program

The Guam Memorial Hospital qualifies for the U.S. Small Business Administration's renewed Paycheck Protection Program under the CARES Act, according to Sen. Amanda Shelton, citing a rule change in the program.

“We’ve heard so much about the CARES Act Paycheck Protection Program (PPP). Hundreds of Guam businesses have benefited from it and hopefully with the infusion of more cash into the program on Friday hundreds more will also do so. The real game changer for all the people of Guam is that Guam Memorial Hospital may be able to utilize the PPP also,” Shelton said.

Amanda Shelton

The opportunity was announced in the past 48 hours through a formal process known as an SBA Interim Final Rule Change. The change states ongoing disaster government owned hospitals can seek reimbursement for payroll costs from SBA. Government owned hospitals were not eligible for direct payroll reimbursements in previous disasters.