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11 loans out so far from SSBCI program

The Commonwealth Development Authority disclosed yesterday that 11 loans totaling some $2.17 million have been approved to date for the State Small Business Credit Initiative. According to CDA loan manager Oscar Camacho, these 11 loans have all been approved to date. The U.S....
Posted On May 21 2015 23:06
, By Dennis B. Chan

Treasury OKs second tranche of funds for NMI’s small business loan program

The U.S. Department of Treasury will allow the CNMI to use the second tranche of funds for its State Small Business Credit Initiative before the deadline to use up the first tranche. The SSBCI program, introduced to the CNMI in 2012, allocated $13.2 million to the CNMI to be used...
Posted On May 20 2015 04:00
, By Joel D. Pinaroc

CDA approves City Trust Bank for small business loan initiative

The Commonwealth Development Authority has added City Trust Bank as a depository of State Small Business Credit Initiative funds. The money deposited in the account will serve as collateral for City Trust Bank as it participates in a program that CDA hopes will push out some $4...
Posted On May 01 2015 04:00
, By Dennis B. Chan
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