Northern Mariana Islands Small Business Access Act

The Northern Mariana Islands Small Business Access Act expands eligibility for the federal microloan program to include the Commonwealth of the Northern Mariana Islands (CNMI), which was previously excluded. This change, made by amending the Small Business Act, allows small businesses in the CNMI to access low-interest loans through the same program currently available to businesses in Guam. The bill updates two sections of the law to insert "the Commonwealth of the Northern Mariana Islands" after "Guam" in eligibility requirements. As a result, CNMI small business owners will gain access to federal funding to support startup costs, equipment purchases, or business expansion.