Washington, D.C. — The U.S. House Small Business Committee has unanimously advanced H.R. 3496, the Northern Mariana Islands Small Business Access Act, a bill by Congresswoman Kimberlyn King-Hinds that would open the federal Small Business Administration’s microloan program to entrepreneurs in the Marianas for the first time.
The committee reported the bill out on a 27–0 vote. King-Hinds said the measure fixes a long-standing gap in federal support by adding the CNMI to a program already available in every other state and territory.
“Including the Northern Mariana Islands in the SBA microloan program is a simple fix with meaningful benefits for our small business community,” King-Hinds said, adding that local entrepreneurs deserve the same access to affordable credit that helps Americans launch businesses, create jobs, and strengthen their local economies. She thanked Chairman Roger Williams, Ranking Member Nydia Velázquez, and Congressman Herb Conaway for their bipartisan support.
The SBA microloan program offers loans of up to $50,000 at affordable rates to small businesses that may not qualify for traditional bank financing. Since it became operational in 1992, the program has issued more than 69,000 loans totaling over $900 million and supported more than 250,000 jobs nationwide. The Northern Mariana Islands is currently the only state or territory not explicitly included in the statute; H.R. 3496 would add the Commonwealth to the list of eligible jurisdictions.
During the committee markup, Williams, Velázquez, and Conaway spoke in favor of the bill. Conaway, the bill’s co-lead, said the legislation would expand access to the SBA’s microloan program for small businesses in the Northern Mariana Islands.
Velázquez noted that small businesses in the Marianas face unique challenges, including higher costs driven by geographic isolation and an economy heavily dependent on tourism, which can swing with economic conditions and natural disasters. She said access to affordable credit can help small businesses manage uncertainty and prepare for new opportunities.
Williams said expanding microloan eligibility would spark entrepreneurship, strengthen the local economy, and help constituents of King-Hinds access more opportunities to grow.
In addition to Conaway, H.R. 3496 is also cosponsored by Congressman Gilbert Ray Cisneros. The bill now moves to the House floor for further consideration.
