The CNMI Small Business Development Center Network at Northern Marianas College is pleased to announce the opening session of the 2024 Women’s Entrepreneurship Project Cohort 4 speakers, in partnership with the Commonwealth Women’s Association. “Credit Ecosystem: Commercial Loan & Business Credit” will be held from October 15, 2024, to October 18, 2024, at the Northern Marianas College Library in As Terlaje, Saipan. 

Appearing as distinguished speakers in the opening session are from the two big financial institutions: Joanne Aldan, Assistant Vice President and Assistant Branch Manager at Bank of Hawaii, and representatives from First Hawaiian Bank, Vickie Izuka (Vice President & Branch Manager), Vicente Agulto (Assistant Vice President & Business Banking Officer), and Piarose Aguon (Senior Merchant Services Representative). 

In the first portion of the “Credit Ecosystem,” in this session, Bank of Hawaii will present the “ABCs of Credit,” which helps individuals understand the following: Understanding the basics of credit reporting and scoring-including importance of good credit history-how to correct problems if they occur. 

The second half of the session is to demystify the loan application process through allowing participants to take advantage of the knowledge First Hawaiian Bank possesses in navigating business loans and an effective application with an understanding of how the underwriting process works. All these falls under the objective for building confidence among would-be business owners with these insights into what banks look for in a client who would be an ideal fit as well as what constitutes the bare essentials of their merchant services. 

Presenting again will be First Hawaiian Bank, and to the series for its first time will be the Bank of Hawaii. Banking sessions are always among the most popular parts of the series. These report on new developments in banking activities and freshen participants’ knowledge about credit and loan applications. 

We appreciate the continued support of our banking partners through this program. According to CNMI SBDC Network Director Nadine C. Deleon Guerrero, banks and banking institutions play a crucial role in assisting small businesses, especially in dire economic conditions.”.