Guam COVID-19 Relief
Guam COVID-19 Relief
Coronavirus Aid, Relief, and Economic Security (CARES) Act
What Does the CARES Act Mean to You
On March 27, 2020, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act became law. The stimulus package provides financial assistance and programs for individuals and businesses facing economic hardship.
Stimulus Payments
The one-time stimulus rebate provides individuals payment of $1,200, joint filers of $2,400, and 16 years and below $500 per qualifying dependent. Individuals earning above $75,000 and $150,000 for joint filers of their reported Adjusted Gross Income (AGI) will receive a reduced payment.
Economic Impact Payments – Non Filers Form (EIP-NF) for Guam Residents:
Residents of Guam with no filing requirements must submit the Economic Impact Payment – Non Filers Form (EIP-NF) including Social Security Administration (SSA), Supplemental Social Security Income (SSI), Railroad Retirement Benefits (RRB) and Veteran Affairs (VA) recipients and beneficiaries to receive the one-time stimulus rebate. The Non Filers Form (EIP-NF) can also be retrieved by accessing this link.
More information can be found on the Guam Department of Revenue and Taxation by clicking here. For other inquiries, individuals are encouraged to contact the Guam Department of Revenue and Taxation Call Center at 635-1840/41/42/09 and 635-7603/04/06 or email at guameip@revtax.guam.gov.
Unemployment Insurance for Guam Residents
Unemployment benefits are made available to eligible Guam residents who were furloughed, laid-off, or received a reduction in hours as a result of COVID-19 pandemic. The Pandemic Unemployment Assistance (PUA) provides up to $345 to eligible individuals through December 31, 2020, and Federal Pandemic Unemployment Compensation (FPUC) Programs provides an additional $600 starting from April through the end of July.
Under the CARES Act, self-employed, freelancers, and independent contractors are also eligible to receive unemployment benefits who normally would not qualify. More information and eligibility requirements can be found on the Guam Department of Labor Website or by clicking here.
Federal Student Loans
As part of the CARES Act, federal student loan borrowers are automatically placed in an administrative forbearance from March 13, 2020 to September 30, 2020 to include interest temporarily set at 0% of federal student loans owned by the United States Department of Education. Recurring payments will also be suspended during the administrative forbearance.
Students, borrowers, and parents can seek more information here, or contact your loan servicing provider or visit your loan servicer’s website. If you do not know your loan servicer or how to contact them, please click here, or call the United States Department of Education (ED) office of Federal Student Aid at 1-800-4-FED-AID (1-800-433-3243; TTY for the hearing impaired 1-800-730-8913) for assistance.
Small Business Administration – Funding Options
The CARES Act established new temporary initiatives to assist small businesses experiencing unprecedented downfall due to the coronavirus pandemic.
Paycheck Protection Program:
The Paycheck Protection Program help small businesses retain their employees to provide funds to pay their employees up to eight weeks including benefits. These funds can also be used to pay interest on mortgages, rent, and utilities. At least 75% of the Paycheck Protection Program must be toward payroll to be forgiven. Collateral or personal guarantees are not required, and the loan will be deferred for the first six months.
Small businesses including nonprofits, veteran organizations, tribal concerns, self-employed, sole proprietorships, and independent contractors with 500 or fewer employees are eligible. Certain industries will be eligible if more than 500 employees. To learn more about the Paycheck Protection Program, click here.
Economic Injury Disaster Loans and Advance:
The Economic Injury Disaster Loans is a low-interest federal disaster loan for small businesses suffering substantial economic injury caused by the coronavirus outbreak. A loan advance of up to $10,000 will not have to be repaid. An affordable plan of long-term repayments up to 30 years is offered for small businesses with an interest rate of 3.75% and non-profits of 2.75%.
To learn more about the Economic Injury Disaster Loans and Advance or how to apply, click here. The United States Small Business Administration Customer Service Center is reachable at (800) 659-2955 or TTY for the hearing impaired at (800) 877-8339.
Supplemental Nutrition Assistance Program (SNAP) – Families First Coronavirus Response Act
The Families First Coronavirus Response Act expands the Supplemental Nutrition Assistance Program (SNAP) benefits by providing more food assistance to struggling families during this pandemic. Eligibility of SNAP benefits are dependent upon the individual’s gross monthly income and household size. To learn more information or apply for the SNAP Program, individuals may visit the Guam Department of Public Health and Social Services by accessing the website here.