FOR IMMEDIATE RELEASE 

March 13, 2023 

Coast360 Federal Credit Union wins SBA Lender of the Year

Maite, Guam – Coast360 Federal Credit Union received recognition from the Small Business Administration as SBA Lender of the Year for fiscal year 2022. This is the second year in a row that the credit union has received this honor. The award was presented by Kenneth Lujan, U.S. Small Business Administration Branch Manager of the Guam Branch Office and attended by Coast360 Board of Directors, Executives and Managers at its Maite member center on March 9, 2023. Lujan commented, “Our programs are meant primarily to aim and assist the small businesses out in our community and you (Coast360) fit that profile as a community lender…providing services and access to capital to the community.”

SBA’s Lender of the Year award recognizes institutions that have approved a significant number of SBA-backed loans in a given fiscal year. Coast360 ranked No.1 in FY 2022 for highest volume of SBA 7(a) loans to local small businesses in Guam. During the pandemic in 2020 and 2021, Coast360 assisted the SBA in processing over 500 SBA Paycheck Protection Program (PPP) loans totaling over $18 million. “More than half of these loans assisted by the team were to businesses with fewer than 10 employees, indicating that a majority of the funding was received by smaller businesses. We were very proud to be at the forefront of helping these proprietors.” said Noela Santos, Business Credit Supervisor, who notably was the recipient of SBA’s 2016 Banker of the Year.

“I am extremely proud of the work that we do here at Coast360 to help our small business community,” said Gener Deliquina, Chief Executive Officer for Coast360. “We strive to uphold our mission of member helping member, so in addition to the recognition by the SBA as being the top SBA Lender on Guam, the best feeling of fulfillment comes from our members who appreciate what we do to help their businesses thrive and grow.”