Northern Mariana Islands Small Business Access Act

This bill adds the Commonwealth of the Northern Mariana Islands (CNMI) to the Small Business Administration’s microloan program, so small businesses and entrepreneurs in CNMI can access these SBA-backed microloans through local lenders and support groups. It also makes a small technical fix to the law’s wording, without changing how the program works for borrowers.

Key points:

• Who is affected: Small businesses and entrepreneurs in the Northern Mariana Islands.
• What changes: CNMI becomes eligible for the SBA microloan program; the bill updates some technical language in the statute.
• When: Takes effect after the bill becomes law.