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U.S. Virgin Islands SSBCI Program
General · U.S. Virgin Islands Economic Development Authority - Economic Development Bank (administering U.S. Treasury SSBCI funds) · VI
The U.S. Virgin Islands SSBCI Program is a credit-support initiative run by the USVI Economic Development Bank that helps small businesses in the territory access bank loans through guarantees and collateral support, rather than providing direct cash grants.
The U.S. Virgin Islands SSBCI Program is a credit-support initiative administered by the U.S. Virgin Islands Economic Development Authority's Economic Development Bank (EDB), using an allocation from the U.S. Treasury's State Small Business Credit Initiative (SSBCI). Unlike a traditional grant, this program does not hand cash directly to businesses. Instead, it works behind the scenes with participating banks and lenders to reduce their risk when lending to small businesses, making it easier for USVI business owners to qualify for financing they might otherwise be denied.
The program offers several tools, including collateral support, loan participation, loan guarantees, and bonding assistance. According to the listing data, loan guarantees can cover up to 80% of a loan, and collateral support is capped at $500,000 per loan. These mechanisms are designed to expand access to capital for small businesses across the territory by making banks more willing to extend credit.
This matters to a small-business owner in the U.S. Virgin Islands because it can mean the difference between securing a bank loan and being turned away due to insufficient collateral or perceived risk. Rather than applying directly to the EDB for cash, business owners typically need to work through a participating lender that takes part in the SSBCI credit-support programs.
Because the exact award amounts, active funding rounds, and eligibility criteria may change, applicants should confirm current details directly with the USVI EDB before applying through a lender.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is neither a direct grant nor a loan to businesses; it's a credit-support program that helps banks guarantee or back loans to small businesses.
Do I have to repay this funding?
The support goes to the lender, not as cash to you, but any loan you receive from the bank still must be repaid under its normal terms.
Who is eligible?
USVI small businesses seeking bank financing through a participating lender enrolled in the SSBCI program.
How much funding is available?
Loan guarantees can cover up to 80% of a loan, and collateral support is capped at $500,000 per loan, according to the program notes.
What is the application deadline?
There is no fixed deadline listed; check current rounds with the EDB.
Where do I apply?
Through a participating lender working with the USVI EDA/EDB; details are at https://usvieda.org/financing/.
Is the funding taxable?
Confirm at the official source, as this is not addressed in the available information.
Who administers this program?
The U.S. Virgin Islands Economic Development Authority's Economic Development Bank, using funds allocated by the U.S. Treasury's SSBCI.
Can I get cash directly from this program?
No, the program provides credit enhancement to lenders rather than direct cash to businesses.
What types of support does the program offer?
Collateral support, loan participation, loan guarantees, and bonding assistance.
Is this only for USVI businesses?
Yes, eligibility is limited to businesses in the U.S. Virgin Islands (VI).
Do I need a specific lender to apply?
Yes, you must work with a lender that participates in the SSBCI credit-support programs.
Opportunity number: not published. Source: curated + verified (official territory source, 2026). GetFundedUSA is independent and not affiliated with U.S. Virgin Islands Economic Development Authority - Economic Development Bank (administering U.S. Treasury SSBCI funds); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.