CEDA Low-Interest Business Loans – Start or Grow Your CNMI Business
Microloans up to $25,000 | Direct Loans up to $450,000
Interests Rates from 5.5%–9%
Do You Qualify?
- U.S. Citizen or U.S. National
- CNMI Resident for the past 2 years
- At least 18 years of age
- Debt-to-income ratio generally under 38%
- No current delinquencies or defaults
- Business plan must show ability to repay
- Credit score below 620 requires a qualified co-signer
What Can You Use The Loan For?
- Start or expand your business
- Buy equipment, inventory, or supplies
- Cover operating expenses & working capital
- Marketing & growth strategies
- Ease cash flow challenges
Monthly Payment Examples
| Amount | Rate | Term | Payment |
|---|---|---|---|
| $10,000 | 7.5% | 5 yrs | $200 |
| $25,000 | 7.5% | 5 yrs | $501 |
| $150,000 | 7.5% | 15 yrs | $1,391 |
| $450,000 | 7.5% | 20 yrs | $3,625 |
Our Loan Programs
Microloans
Up to $25,000
0
Interest Rate: 5.5% -
0
Term: up to
Interest rate based on credit, cash flow, & collateral
With complete application, and all required information & documentation review time of 7-10 days.
Direct Business Loans
Up to $450,000
0
Interest Rate: 5.5% -
0
Term: up to
Interest rate based on credit, cash flow, & collateral
With complete application, and all required information & documentation, the average loan review time is 7-10 days, and average approval time, from the CEDA Board of Directors, is 30-45 days.
Always happy to help wherever we can.
Frederick C. CruzLoan Officer
Tel: 670-234-6245 Ext. 305
Email: f.cruz@developcnmi.com
Email: f.cruz@developcnmi.com
Abby C. AtaligLoan Compliance & Collections Officer
Tel: 670-234-6245 Ext. 309
Email: a.atalig@developcnmi.com
Email: a.atalig@developcnmi.com
Marie N. ColemanLoan Manager
Tel: 670-234-6245 Ext. 307
Email: m.coleman@developcnmi.com
Email: m.coleman@developcnmi.com
Elaine M. ManglonaField Representative, Rota Office
Tel: 670-532-9408
Email: e.manglona@developcnmi.com
Email: e.manglona@developcnmi.com
Alexis HofschneiderField Representative, Tinian Office
Tel: 670-433-9203
Email: a.hofschneider@developcnmi.com
Email: a.hofschneider@developcnmi.com