25 Sep 2010

American Samoa eligible for business loans

10:41 am on 25 September 2010

American Samoa is eligible for a grant of up to 13 and a half million US dollars for business loans under the Small Business Jobs Act approved yesterday by the United States House of Representatives.

To receive the funds, the American Samoa government needs to file an application with the Secretary of Treasury, showing how they would be spent and how they would be paid back.

The small businesses that qualify to receive the loans are also eligible for incentives and tax breaks that are included in the Act.