Portfolio Overview
Commonwealth of the Northern Marianas Islands (CNMI) operates three small business financing programs: one collateral support program (CSP), loan guarantee program (LGP), and one loan participation program (LPP). The CNMI Commonwealth Economic Development Authority (CEDA) is the implementing entity for the territory and program administrator for all three programs.
Table 1: Northern Mariana Islands SSBCI Capital Program Portfolio
| Program Name | Program Type | Program Administrator | Allocation |
|---|---|---|---|
| Collateral Support Program | Collateral Support | CEDA | $19.02M |
| Loan Guarantee Program | Loan Guarantee | CEDA | $19.02M |
| Loan Participation Program | Loan Participation | CEDA | $19.02M |
| TOTAL | $57.06M | ||
CREDIT SUPPORT PROGRAMS
Collateral Support Program (CSP)
The CSP provides cash collateral accounts of up to 50 percent of a loan’s value to address collateral shortfalls experienced by the borrower. The collateral support is provided through an SSBCI cash deposit at the participating FDIC bank. Loan proceeds may be used for most business expenses including start-up costs; working capital; acquisition of equipment, inventory, or services used in production; and building construction.
Although most businesses are eligible, the program is expected to support tourism and provide vital financial support to both emerging and established CNMI businesses that are ready to grow, create jobs, and drive economic development.
Loan Guarantee Program (LGP)
The LGP guarantees up to 80 percent of the loan value for loans originated by participating lenders. The guarantee is secured by an SSBCI cash deposit at the participating FDIC bank. Loan proceeds may be used for most business expenses including start-up costs; working capital; acquisition of equipment, inventory, or services used in production; and building construction.
Although most businesses are eligible, the program is expected to support tourism expansion and provide crucial financial support for new and existing CNMI businesses that are ready to grow, create jobs, and drive economic development.
Loan Participation Program (LPP)
The LPP purchases a participation of up to 60 percent in loans originated from participating lenders. Loan proceeds may be used for most business expenses, including start-up costs; working capital; acquisition of equipment, inventory, or services used in production; and building construction.
Although most businesses are eligible, the program is expected to support tourism expansion and provide vital financial support to both emerging and established CNMI businesses that are ready to grow, create jobs, and drive economic development.
Program information updated in May 2025.