Northern Mariana Islands Small Business Access Act

# Northern Mariana Islands Small Business Access Act Summary **What the Bill Does** This bill would expand the Small Business Administration's microloan program to include businesses in the Northern Mariana Islands (a U.S. commonwealth in the Pacific). The microloan program provides loans up to $50,000 to small businesses and nonprofit childcare centers to help them start or grow their operations. **Who It Affects** The bill primarily affects small business owners and nonprofit childcare operators in the Northern Mariana Islands who currently don't have access to this federal lending program.

It could also benefit the local economy of the territory by making it easier for entrepreneurs there to access capital. **Current Status** The bill has passed the House of Representatives and is sponsored by Delegate Kimberlyn King-Hinds (R-MP-At Large). It now awaits action in the Senate to advance further in the legislative process.