(Saipan, MP) Latte Built – 24-Hour Fitness & Nutrition is the first 24 hour fitness facility in Saipan. Since opening in 2015, Latte Built has been committed to empower and build client awareness to lead a happy and healthy lifestyle. Cutting noted that the COVID-19 pandemic set back the gym financially in 2020 and 2021. They were forced to close down for months. Upon reopening, incorporating increased sanitation protocols added more costs towards their supplies followed by a decline in memberships due to personal hardships from the pandemic and social distancing protocols.
Through work with CNMI SBDC, Latte Built received proper guidance with the Paycheck Protection Program, a loan backed by the U.S. Small Business Administration, that helped maintain their employees throughout the pandemic. This also helped Latte Built bridge the gap with SBA and qualify for additional loans to curb the losses caused by the pandemic and economic decline.
Latte Built currently has two locations in Oleai and Kagman and has successfully retained 13 employees. Owner and Manager, Derek Cutting continues to receive assistance through free one-on-one counseling sessions. “SBDC is an amazing resource for small business owners. Although we have been in business for eight years now, I always appreciate the support and encouragement from the SBDC counselors and staff.” Cutting also shared “Latte Built aims to improve its services and will be announcing exciting news in the near future”.
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.
