Hosted by the CDA board of directors, the “Dialogue on CDA Matters” is slated at American Memorial Park Visitors Center from 9 a.m. to 3:30 p.m. tomorrow, October 15.
Attendees to the dialogue will get a glimpse of the different programs and strategic plans of CDA, and have a chance to hear presentations from successful entrepreneurs and borrowers that have availed of CDA’s program loans for their businesses in the island.
Issues and concerns that will be tackled in tomorrow’s dialogue include qualifying certificate program and loans and debt relief programs. A question and answer portion will follow the presentations where recommendations, comments and suggestions can be thrown in. CDA held its first forum in December 2007.
CDA loan manager Oscar Camacho said that through the dialogue tomorrow, they hope to erase the public perception that CDA is just there ready to foreclose anything and everything.
“Our goal is to revive and revitalize CDA and its programs, and we would like the community to know that we are not the bad guys here and they can come to us for assistance in expanding or building their businesses,” he said.
Camacho said doing foreclosure proceedings is inevitable in cases where businesses that have applied for loans cannot and do not meet up the payments.
He said there are many businesses that have availed of loans, paid off and got on with their businesses on their own, while some businesses have closed but the owners continue to pay off their loans. He said CDA comes in when businesses close and are unable to pay off their loans.
He said they have also identified possible federal agencies they can tap for more funding.
Open House
From Monday to Friday next week, CDA will be holding an open house for the public. Camacho said that tours and orientations about the different programs will be held in the mornings where clients and potential clients can ask questions, and browse what programs CDA has to offer.
In the afternoons, one-on-one consultations with borrowers and entrepreneurs are scheduled. Camacho said clients can just walk in, or make an appointment for a one-on-one interview.
“We want to know what the community needs so we can move in the right direction to improve efficiency,” Camacho said.
During the open house, clients can get more information about CDA’s programs such as the debt relief program and how it works, deed in lieu of foreclosure — a program that helps keep borrowers away from foreclosures, as well as other workable programs to assist borrowers in their payment capability.
Camacho said they also hope to showcase products of businesses that have availed of CDA’s loans, as well as renters and entrepreneurs that maintain a business relationship with CDA.
“We would like to formulate what the economic view of the CNMI would be after the dust has settled from the uncertainty in the island brought about by several issues such as the federalization of immigration, the looming military build-up, the government shutdown and reduced hours and the economic depression,” Camacho said.
Raffle Draw
As an incentive for borrowers, clients and the general public who will attend tomorrow’s dialogue, CDA will be holding a raffle draw and give away prizes for lucky winners. At stake are 10 prizes of $500 which will be credited towards a borrower’s accrued interest, and two laptops.
But Camacho said clients who attend tomorrow’s dialogue are required to visit the CDA office anytime during the open house next week to qualify for the raffle draw.
The raffle draw will be held on October 22, 2010.
Constituents on Rota and Tinian will have a chance to participate as the dialogue will be broadcast in a live video teleconference on Rota at the NMC campus, Room A2, and on Tinian at the NMC Campus, Room C.
Light refreshments will be served. For more information, call Christy or Espie at 234-6245/234-7145.
