[Congressional Record Volume 169, Number 153 (Thursday, September 21, 2023)]
[Extensions of Remarks]
[Page E876]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 INTRODUCTION OF THE NORTHERN MARIANA ISLANDS ENTREPRENEURSHIP ACT OF 
                                  2023

                                 ______
                                 

                  HON. GREGORIO KILILI CAMACHO SABLAN

                    of the northern mariana islands

                    in the house of representatives

                      Thursday, September 21, 2023

  Mr. SABLAN. Mr. Speaker, today, I introduce the Northern Mariana 
Islands Entrepreneurship Act of 2023, which would extend eligibility 
for the Small Business Administration's microloan program to the 
Marianas. My bill ensures that small businesses in our islands are 
treated equitably and have access to the same assistance available in 
other parts of our Nation.
  The opportunity for people to find and grow small businesses is the 
pathway to achieving the American dream. The SBA's microloan program 
was created to help everyday Americans do just that--with loans of up 
to $50,000, small business owners can jumpstart their dreams by 
investing the micro loan towards inventory, supplies, machinery, 
equipment, and more. And when our small businesses thrive, we all stand 
to benefit. According to a 2019 report from the SBA, small businesses 
create two-thirds of net new jobs and drive U.S. innovation and 
competitiveness.
  Yet this opportunity is not available to all Americans. My home, the 
Marianas, is the only jurisdiction in the Nation that is ineligible for 
the microloan program.
  My bill ends this inequity and provides a path to entrepreneurship 
for all small business owners, no matter where they choose to live in 
the U.S.
  I thank my colleague, Ms. Radewagen, who joined me in introducing 
this important bipartisan legislation.

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