BOH awards $25K to 5 small business owners

Five small business owners were each awarded a $5,000 grant from Bank of Hawaii’s Small Business Revitalization and Development Grant (I Kinometi Para I Kumunidat I Isla- ta Grant) last Friday afternoon at the Board of Regents Conference Room of the Northern Marianas College.

The five recipients of $5,000 grant each were Alexandra Villagomez of Isla Consultancy Services, LLC, Rens Belo of Mechille Corp., Vince Tudela of Peska CNMI dba Peska Tackle, Jake Hocog of TilSteel, LLC dba Divine’s Essentials, and Edgar Duenas Niric of Niric, LLC dba Eastside Cuts.

The grant awarding ceremony was attended by Bank of Hawaii senior vice president and senior market manager Michael Sakazaki, Bank of Hawaii CNMI assistant branch manager Joanne Aldan, NMC vice president of Administration and Advancement Frankie M. Eliptico, CNMI SBDC Network director Nadine Deleon Guerrero, and Tupu Cane Juice general manager Cameron Atalig.

Roman Tudela, SBDC Marketing manager who also served as the ceremony’s emcee, explained that the event is a collaboration between Bank of Hawaii and the CNMI Small Business Development Center Network at Northern Marianas College, focusing on supporting local entrepreneurs.

“This partnership for the past three years has been focused on providing our local entrepreneurs with the support that they need to grow, thrive, and innovate,” said Tudela.

Sakazaki highlighted the unique aspects of the 12-year partnership, emphasizing the bank’s commitment to the community and financial literacy.

“I want to thank the CNMI Small Business Development Center for the continued partnership and shared core values of commitment to our Saipan community. We, Bank of Hawaii, are invested in our West Pacific Market and through these grants, our goal is to continue to revitalize the economy and promote financial literacy to all!” said Sakazaki.

Deleon Guerrero thanked her SBDC team for their efforts in helping clients access capital and process loans. She emphasized the importance of small businesses in the community and their role in fostering the private sector. Guerrero mentioned the challenges small businesses face, particularly in accessing capital, and expressed gratitude to Bank of Hawaii for their program.

Eliptico thanked Bank of Hawaii for supporting not just the small businesses in the CNMI but also NMC.

“Bank of Hawaii has been very instrumental for us to rebuild here at the Northern Marianas College. In addition to the funds that you’re providing for small businesses, we have directly received from the Bank of Hawaii Foundation, direct funds that help us to build. I’m not sure if it’s $10,000 or $15,000 but it’s a grant to build a simulation center in building A. We had just purchased all the computers and other equipment and we’ve remodeled the classrooms where students can simulate a business environment in various types of business industries.”

Meanwhile, Atalig, who is one of the 2023 grant recipients, shared how the grant helped with Tupu Cane’s branding and farming infrastructure.

“A lot of times when something new and innovative comes out, it’s hard to keep the hype going,” he said.

Villagomez of Isla Consultancy Services, LLC shared that she was informed about a grant opportunity from BOH through an email from SBDC a month ago. She’s been running her consultancy business since 2022 and plans to use the grant to purchase resources like TVs, laptops, textbooks, and certificates. She currently lacks a physical office but with the grant, she intends to rent a space to accommodate at least eight people.

Mechille Corp., represented by Rens Belo, plans to use the $5,000 for the exploration of a new wastewater purification device.

Eastside Barbershop in Kagman, owned by Niric, plans to use the funds for advertising and workforce expansion to increase awareness of the barbershop and hire and train additional staff to better serve the community.