Territorial Bank makes first SBA PPP loan in American Samoa

Pago Pago, AMERICAN SAMOA — The Territorial Bank of American Samoa is pleased to announce it funded the first SBA Paycheck Protection Program loan in the Territory last week. “So far, we have processed over 50 applications of which at least 30 have been approved and 20 loans will be funded this week” reported the bank’s Chief Credit Officer Annette Ameperosa.

With submission of a fully completed application and relevant supporting documents, SBA approval is received within minutes of submission. Applicants are then advised and a closing date is scheduled.

Ms. Ameperosa went on to say, “Our team of lenders are just waiting for business owners and managers to meet with them to help them through the application process and get the funds out to them as soon as possible”. The current program is available through June 30, 2020 assuming funding remains available.

Please contact our loan department as follows: Ruth Glodowski at 633-8143 ext. 157 or email [email protected] or Michelle Sasala at ext. 191 or email [email protected].

Businesses may obtain an application from our Centennial Office or online at www.sba.gov/paycheckprotection or www.treasury.gov/cares

Please visit our website at www.mytbas.com or call us at (684) 633-8143 for more information. The People’s Bank – Faletupe o le Atunu’u.