Follow-up: CNMI SBDC and CWA to Welcome CEDA and Bank of Guam in “Exploring Commercial Loan Programs” Training Event

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
Thursday, October 10, 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 elated to share a more detailed program for “Exploring Commercial Loan Programs” slated for Wednesday, October 16, 2024.

In Day 2 of the four-day training series, the training will feature: Marcie Tomokane, Vice President and CNMI Regional Manager for Bank of Guam and the Commonwealth Economic Development Authority (CEDA) loan team.

The CEDA loan team will provide an in-depth discussion on how entrepreneurs can leverage CEDA’s Microloan and Direct Loan programs to drive business growth. Participants will gain valuable insights into accessing these funding opportunities to support their business development. Marcie Tomokane, Vice President and CNMI Regional Manager for Bank of Guam, will present on Bank of Guam’s commercial loan offerings, review the commercial loan application, and explain the intake process for clients seeking commercial funding.

Tomokane and the CEDA loan team will provide a brief overview of the CNMI State Small Business Credit Initiative (SSBCI) 2.0. For further details, the public is encouraged to visit CEDA’s website at https://www.developcnmi.com/loans to access more information on the program and how to avail of the funding opportunity. Participants will be able to engage in a question and answer segment with our presenters following the presentation.

Business plans are a vital tool to assist entrepreneurs in preparing strong submissions for loan applications to both CEDA and BOG. Following this session, the SBDC will continue to work with participants to offer no-cost business advising and technical support to include business plan writing assistance.

Nadine C. Deleon Guerrero, Network Director of the CNMI SBDC, emphasized the significance of this collaboration, “It is crucial for the SBDC to host trainings like this to highlight the important link between our services and financial institutions. These sessions allow us to demonstrate how our support can help clients navigate financing options with organizations like CEDA and the Bank of Guam.”

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 Commercial Loan Programs”
Presented by: Marcie Tomokane, Vice President and CNMI Regional Manager for Bank of Guam, Saipan & The CEDA Loan Team

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 Commercial Loan Programs” training—part of the 4th Cohort of the Women Entrepreneurship Project! Led byMarcia Tomokane (Bank of Guam) and the Commonwealth Economic Development Authority (CEDA) Loan Team, this session will dive into new financial opportunities for local businesses through various commercial loan programs. Don’t miss this chance to learn how to secure capital and grow your business!