Empowering Small Businesses in the CNMI.

The Commonwealth Economic Development Authority (CEDA) is proud to announce the availability of about $18 million through the SSBCI 2.0’s 1st tranche, supporting CNMI's small businesses. This funding is available to support bank-driven programs designed to help your business grow, create jobs, and succeed.

How SSBCI 2.0 Works

SSBCI 2.0 provides critical financial assistance by offering Loan Guarantees, Loan Purchase Participation, and Cash Collateral Support to businesses that may face challenges securing conventional loans. These programs help reduce the risks for banks and allow your business to get the financial backing it needs.

Loan Guarantee Program (LGP)

This program helps reduce risk for lenders by securing up to 80% of your loan amount with a cash deposit. By offering this guarantee, LGP makes it easier for businesses to get approved for financing, even if they don’t meet all the usual collateral or credit requirements.

Cash Collateral Support Program (CSP)

If your business doesn’t have enough collateral to secure a loan, CSP can step in. It provides cash collateral to cover up to 50% of the loan’s security needs, helping you access financing while protecting your lender.

Loan Purchase Participation Program (LPP)

This program allows CEDA to purchase up to 60% of your loan, easing the burden on your business. With CEDA as a participating lender, you gain extra time to improve cash flow, stabilize operations, and grow your business without overwhelming repayment pressure.

Frequently Asked Questions (FAQs)

Who is eligible for SSBCI 2.0?

SSBCI 2.0 is open to businesses with fewer than 750 employees that are located in the Commonwealth of the Northern Mariana Islands (CNMI).

Ready to Apply? Here's how...

1

Contact a Participating Bank

Begin by reaching out to a participating bank, such as Bank of Guam branches on Saipan, Tinian, or Rota. 
Visit bankofguam.com to locate a branch and start your business loan application.
Please contact the Bank of Guam (https://bankofguam.com/business) to Learn More About the Loan Process.
2

Prepare Your Documentation

Work closely with your bank to gather and submit all required documents for your loan application.
3

Bank Review

Your bank will review your application for eligibility and forward it to CEDA for further evaluation.
4

CEDA Review

CEDA will assess your loan for compliance with SSBCI 2.0 guidelines and then forward it to the Independent Loan Review Committee (ILRC) for their review and concurrence.
5

Loan Approval and Closing

If approved, CEDA SSBCI 2.0 will provide financial backing for your loan. The bank will then finalize and close the loan with you so you can access your funds.

We're Here to Help – Reach Out Today!

Our CEDA team is ready to assist further. If you have any questions or need assistance, don’t hesitate to contact us.

Frederick C. Cruz
Frederick C. CruzLoan Officer
Tel: 670-234-6245 Ext. 305
Email: f.cruz@developcnmi.com
Abby C. Atalig
Abby C. AtaligLoan Compliance & Collections Officer
Tel: 670-234-6245 Ext. 309
Email: a.atalig@developcnmi.com
Marie N. Coleman
Marie N. ColemanLoan Manager
Tel: 670-234-6245 Ext. 307
Email: m.coleman@developcnmi.com
Elaine M. Manglona
Elaine M. ManglonaField Representative, Rota Office
Tel: 670-532-9408
Email: e.manglona@developcnmi.com
Alexis Hofschneider
Alexis HofschneiderField Representative, Tinian Office
Tel: 670-433-9203
Email: a.hofschneider@developcnmi.com

Saipan Office

2390 Beach Road, Oleai
CEDA Bldg. Unit 205,
Saipan, MP 96950

CEDA, P.O. BOX 502149,
SAIPAN, MP 96950, U.S.A.

Tel: +1-670-234-6245
Fax: +1-670-235-7147

Tinian Office:

Bldg. B Room E, NMC Tinian Center,
San Jose Village, Tinian, MP 96952

Tel: +1-670-433-9203

Rota Office:

Marpac Ent. Building
Unit next to the U.S. Postal Service,
Songsong Village, Rota

Tel: +1-670-532-9408