releases: http://sablan.house.gov/press-release/nmi-businesses-benefiting-federal-credit-funds
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| http://sablan.house.gov/press-release/nmi-businesses-benefiting-federal-credit-funds | NMI businesses benefiting from federal credit funds | 2014-10-31 | 2014 | 2014-10 | Independent | Senate | MP | Gregorio Sablan | S001177 | sablan.house.gov | legacy | NMI businesses benefiting from federal credit funds Oct 31, 2014 Local banks and businesses turned out in force on Saturday to learn about the $13.1 million in credit available in the Northern Marianas through the U.S. Treasury’s State Small Business Credit Initiative. President Obama proposed the program in January 2010, as part of the ongoing effort to lift the nation out of recession; and the Democratic Congress passed the measure in September of that year. Treasury phoned me in November concerned that the Commonwealth had not yet applied to be a “participating state.” I alerted the Governor that the 60-day window of opportunity was closing and the CNMI got on board. So it was good to see, four years later, the program now working and the Commonwealth Development Authority encouraging more participation. Nationally, 61 percent of available funds have been deployed. Here, only about 3 percent is in use; and we will lose access to the remainder, if most of the first $4 million is not committed by June 2015. Any SSBCI funds that are successfully used will remain available for Commonwealth businesses in perpetuity. Treasury’s annual report on SSBCI is available here. For more information about the program locally contact Aaron Wood at loan@cda.gov.mp or by calling 670.234.6245 x 306/308. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |