The Commonwealth Economic Development Authority (CEDA) is proud to announce the availability of about $18 million through the SSBCI 2.0’s
1^st 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.

Program Benefits

• Loan Guarantee Program (LGP): Secures up to 80% of your loan with a cash deposit.
• Cash Collateral Support Program (CSP): Covers up to 50% of the loan’s security.
• Loan Purchase Participation Program (LPP): CEDA can purchase up to 60% of your loan, giving you time to build cash flow and grow your business.

Frequently Asked Questions

Key Features of SSBCI 2.0

• Supports businesses with fewer than 750 employees.
• Available to bankable businesses located in CNMI.
• Guarantees loan amounts up to $20 million.
• Can assist non-U.S. citizen business owners.
• Helps create local jobs and stimulate the CNMI economy.

Eligible Loan Uses

Funds can be used for:

• Start-up costs and working capital.
• Equipment, inventory, or service acquisitions.
• Franchise fees and lines of credit.
• Building construction, excluding passive real estate.
• Fixed asset purchases and more!

How to Apply for SSBCI 2.0

1. Contact a Participating Bank
   Start by contacting a participating bank, such as the Bank of Guam (https://bankofguam.com) branches on Saipan, Tinian, or Rota, to begin your business loan application.
2. Gather Documentation
   Work with the bank to gather the necessary documentation for your loan.
3. Bank Review
   The bank will review your loan for eligibility and forward it to CEDA.
4. CEDA Review
   CEDA will assess the loan for program compliance and forward to the Independent Loan Review Committee (ILRC) for their review and concurrence. 
5. Loan Approval
   If approved by the Independent Loan Review Committee (ILRC), CEDA SSBCI 2.0 will provide the financial backing, and the bank will close the loan with you.

Please contact the Bank of Guam (https://bankofguam.com/business) to Learn More About the Loan Process.

What SSBCI 2.0 Can’t Do

• It’s not a grant: The program is not a source of free funds.
• It’s not a direct loan: All loans must be initiated and approved by a participating bank.
• It won’t cover: Gaming, passive real estate, lobbying, and delinquent tax payments.

Ready to Apply?

If you’re a small business owner in the CNMI and want to take advantage of this incredible opportunity, reach out to the Bank of Guam (https://bankofguam.com/business/borrow/commercial-loans) today!