Purpose

The business incubator is responsible for providing professional office space and professional office facilities to small business owners and operators who are unable to afford office rental space at the going market rate. The tenants of the business incubator shall be selected by the Guam Small Business Incubator Board of Directors on the following basis:

(a)Require assistance in securing commercial office rental space.

(b)Require assistance to lease/purchase office equipment. COL120106 CH. 23 SMALL BUSINESS INCUBATION

(c)Unable to secure timely and/or sufficient resources through bank loans or other means to begin business operations and secure rental space or lease/ purchase office equipment. The Guam Small Business Incubator Board of Directors shall elect only clients who meet established financial qualifications, proving difficulty in affording these facilities on their own at fair market value. This facility is not designed to compete directly with private sector businesses or to prevent such businesses from carrying out their functions in the business community.