CNMI SBDC and CWA to Welcome CEDA and Bank of Guam in “Exploring CNMI SSBCI 2.0”

Press Releases

The CNMI Small Business Development Center Network delivers professional, high quality, individualized business advising and technical assistance to existing small businesses and pre-venture entrepreneurs.

FOR IMMEDIATE RELEASE
Tuesday, October 8, 2024

(Saipan, MP) – The CNMI Small Business Development Center Network (SBDC) at the Northern Marianas College (NMC) and the CNMI Women’s Association (CWA) are proud to present a key training session as part of the Fourth Cohort of the Women’s Entrepreneurship Project, focusing on the CNMI State Small Business Credit Initiative (SSBCI) 2.0. This program, launched by the Commonwealth Economic Development Authority (CEDA) in partnership with Bank of Guam, is a $57 million initiative designed to strengthen access to capital for local small businesses, driving economic growth in the CNMI.

The SSBCI 2.0 program offers financial support through a variety of loan and credit initiatives that aim to empower businesses by providing the necessary capital to expand. This collaboration between CEDA and Bank of Guam brings critical resources directly to the hands of CNMI entrepreneurs, ensuring they are well-equipped to navigate the complexities of accessing commercial loans, lines of credit, and other financial tools.

In Day 2 of the four-day training series, Marie Coleman, Loan Manager at CEDA, will discuss how entrepreneurs can leverage their loan programs to fuel their businesses’ growth, while Marcie Tomokane, Vice President and CNMI Regional Manager for Bank of Guam, will outline the role they play in this partnership, helping businesses connect with vital financing opportunities.

This session holds particular significance for women entrepreneurs in the CNMI, as it offers guidance on utilizing financial resources that directly address common challenges faced by small businesses – access to capital. By supporting the Women’s Entrepreneurship Project, both CEDA and Bank of Guam are committed to fostering a stronger, more inclusive entrepreneurial ecosystem in the region.

Nadine C. Deleon Guerrero, Network Director of the CNMI SBDC, emphasized the significance of this collaboration, “The SSBCI 2.0 program brings unprecedented opportunities for women entrepreneurs in the CNMI. Through this collaboration with CEDA and Bank of Guam, we’re not only providing access to vital financial resources, but also empowering women to lead in business development and economic growth. Our goal is to equip them with the tools they need to seize these opportunities, ensuring they become key players in shaping the future of our local economy.”

Session Details

Date: Wednesday, October 16, 2024
Time: 5:30 PM – 7:30 PM
Location: NMC As Terlaje Campus, Olympio T. Borja Memorial Library
Topic: Exploring CNMI SSBCI 2.0
Presented by: Marie Coleman, Loan Manager at CEDA & Marcie Tomokane, Vice President and CNMI Regional Manager for Bank of Guam, Saipan

Attendees must be a registered CNMI SBDC client, and interested individuals are able to register via phone or email. Certificates of Completion will be awarded to those who attend all four sessions. Participants who miss one session may still attend, but will not receive a certificate.

For more information, visit www.cnmisbdc.com or contact us at (670) 237-6888 / cnmisbdc@marianas.edu. Follow us on social media for the latest updates: Instagram @cnmisbdc and Facebook at CNMI Small Business Development Center Network.

Media Package Here

The CNMI SBDC Network promotes a business-friendly economic infrastructure in the community, builds entrepreneurial capacity and financial literacy within that community, and provides current and nascent small businesses with the technical assistance, counseling, training, and support they need to innovate, adapt, and grow.

The CNMI Small Business Development Center Network (CNMI SBDC) Network comprises the CNMI SBDC lead center located in Saipan, the Rota SBDC, and Tinian SBDC. CNMI SBDC Network is partially funded by a cooperative agreement with the U.S. Small Business Administration (SBA) and the Northern Marianas College. All opinions, conclusions, or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Requests for reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Language assistance services are available for limited English proficient individuals with at least two weeks advance notice. For arrangements, please contact your local SBDC at P.O.Box 501250 Saipan, MP 96950, Tel: (670) 237-6888, or email adelpha.magofna@marianas.edu. Services are extended to the public on a non-disciplinary basis.

Social Media Caption:

Calling all women entrepreneurs!

Join us on Wednesday, October 16, 2024, for the “Exploring CNMI SSBCI 2.0” training—part of the 4th Cohort of the Women Entrepreneurship Project! Led by Marie Coleman (CEDA) & Marcia Tomokane (Bank of Guam), this session will dive into new financial opportunities for local businesses through the SSBCI 2.0 program. Don’t miss this chance to learn how to secure capital and grow your business!