FOR IMMEDIATE RELEASE

Tuesday, August 05, 2024

The CNMI Small Business Development Center (SBDC), hosted by the Northern Marianas College, is excited to announce the continuation of its partnership with Bank of Hawaii for the third consecutive year, bringing the “I Kinometi Para I Kuminidat I Isla-ta” Small Business Revitalization & Development Grant to local entrepreneurs. This partnership aims to support the growth and sustainability of small businesses in the CNMI, providing them with essential resources and training.

The grant, designed to foster economic development and innovation, will award up to $5,000 to five selected small businesses. These funds are intended to assist businesses in revitalizing their operations, expanding services, or developing new projects. The CNMI SBDC will facilitate the mandatory “Smart Money Seminar” for all grant applicants, ensuring they are well-prepared and informed about the grant’s opportunities and requirements.

The “Smart Money Seminar” will offer an overview of the grant and a workshop on the ABCs of Credit, a critical component for financial success. The seminar will be held twice to accommodate all interested participants: the first session will take place on August 13, featuring guest speaker Vincent Perez, Vice President and Commercial Banking Officer of BOH Guam Commercial Banking Center, and the second session on August 14, with guest speaker Rita C. Jugo, Vice President of BOH Guam Commercial Banking Center. Both sessions will be conducted via Zoom from 5:30 PM to 6:30 PM.

“We are thrilled to continue our partnership with Bank of Hawaii, which has been instrumental in providing much-needed support to our local small businesses,” said Mercilynn K. Palec, CNMI SBDC Associate Network Director. “Our commitment remains strong in offering a variety of resources and opportunities to our aspiring entrepreneurs, helping them navigate and succeed in the ever-evolving business landscape.”

Training Details:

• Title: Smart Money Seminar
• Training Day 1:
  • Guest Speaker: Vincent Perez, VP & Commercial Banking Officer of BOH Guam Commercial Banking Center
  • Time: 5:30PM – 6:30PM
  • Where: Via Zoom
  • Registration Link: https://marianas.ecenterdirect.com/events/1019163 
• Training Day 2:
  • Guest Speaker: Rita C. Jugo, VP of BOH Guam Commercial Banking Center
  • Time: 5:30PM – 6:30PM
  • Where: Via Zoom
  • Registration Link: https://marianas.ecenterdirect.com/events/1019164 

Applications for the Bank of Hawaii “I Kinometi Para I Kuminidat I Isla-ta” Small Business Revitalization & Development Grant will be accepted from August 12 to 16, 2024. The Smart Money Seminars will follow on August 13 and 14, 2024, with the announcement of grant recipients scheduled for August 30, 2024.

For more information about the Bank of Hawaii grant or to learn how to get involved, please contact the CNMI SBDC Network at 670-237-6888 or cnmisbdc@marianas.edu and follow us on social media at @cnmisbdc on Instagram or CNMI Small Business Development Center on Facebook.