This bill amends the Small Business Act to add the Commonwealth of the Northern Mariana Islands to the SBA microloan program. It inserts ", the Commonwealth of the Northern Mariana Islands" after "Guam" in section 7(m)(7)(B). The bill also makes a technical change to section 7(m)(11)(C)(ii) by striking "rural" and the remainder of that clause and replacing it with "rural; and".
If you run or plan a small business in the Northern Mariana Islands, this bill would make your location explicitly eligible for SBA microloans under the cited program. If you are outside that area, the bill does not change eligibility for other places. No publicly available information on when the change would take effect or how the SBA would implement it.
No publicly available information on costs, budget impacts, or changes to funding in the bill text or provided metadata.
Sponsors introduced the bill to extend access to the SBA microloan program to the Northern Mariana Islands and to make a technical amendment to the cited Small Business Act provisions.
No publicly available information on opposition or objections in the bill text or provided metadata.