Outback Steakhouse, owned and operated by Triple J Restaurant Group, is still open to the public.
Mary P. Rhodes, president of Guam Hotel & Restaurant Association, said it is unfortunate that restaurants have closed due to the pandemic.
âBusinesses have been trying to stay afloat, but it has been difficult especially when their models rely on the tourism industry,â Rhodes said. âAlthough we have seen an increase in business from the local community, itâs rather difficult to replace tourism spending. The tourism industry represented 60% of our gross domestic product.â
Rhodes mentioned that several businesses have chosen to not reopen until air capacity to the island increases.
Triple J announces temporary closure of Bubba Gump Shrimp mvariety.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mvariety.com Daily Mail and Mail on Sunday newspapers.
Paycheck Protection on Guam: 477 businesses receive $40.6M in loans
Nationally, the agency has awarded 7,065,800 loans, totaling about $662 billion.
The Paycheck Protection Program offers low-interest loans to businesses struggling due to the COVID-19 pandemic. An aim of the program was to minimize mass unemployment; a portion of the loan will be forgiven if its spent toward retaining employees on payroll.
Loans may also be applied toward rent, operations expenditures, property damage costs, supplier costs and worker protection expenditures.
Guam businesses that availed of the loans thus far stretch across a range of industries, from food services, wholesale trade, insurance services to construction, according to loan recipient data released at the end of last year.