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USVI EDB Development Loan Program
General · U.S. Virgin Islands Economic Development Authority - Economic Development Bank (EDB) · VI
The USVI EDB Development Loan Program is a territory-run term loan, not a grant, offering $10,000 to $500,000 to small and medium-sized businesses in the U.S. Virgin Islands for working capital and leasehold improvements. It's for USVI business owners who meet the EDB's residency or native-status requirement, and it must be repaid with interest.
The USVI EDB Development Loan Program is a term-loan financing option offered by the U.S. Virgin Islands Economic Development Authority's Economic Development Bank (EDB). This is not a cash grant — it is a loan program, meaning approved funds must be repaid over time. Loan amounts range from $10,000 to $500,000, priced at the Wall Street Journal Prime rate plus 1.5%, fixed at closing, with repayment terms of up to 10 years.
The program is designed to support existing and start-up small and medium-sized businesses located in the U.S. Virgin Islands. Funds may be used for working capital needs or leasehold improvements, which can help business owners manage day-to-day operating costs or upgrade the physical space they operate from.
To qualify, business owners generally must meet the EDB's USVI residency or native-status requirement, in addition to operating a qualifying small or medium-sized business in the territory. This program is only open to businesses located in the U.S. Virgin Islands (VI) — it is not available to businesses in other states or territories.
For a small-business owner in the USVI, this program could matter because it offers a fixed, predictable interest rate and a long repayment window compared to some conventional financing, which may make cash flow planning easier. However, because specific award amounts, current application rounds, and full eligibility criteria may change, applicants should confirm the latest details directly with the EDB before applying. Deadlines are described only as 'check current rounds,' so timing should also be verified at the official source.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is a loan program, not a cash grant, despite being listed under grant-style funding resources.
Do I have to repay the money?
Yes, this is a term loan and must be repaid, with interest at WSJ Prime plus 1.5% fixed at closing.
Who is eligible?
Small and medium-sized businesses in the U.S. Virgin Islands whose owners meet the EDB's USVI residency or native-status requirement.
How much funding can I get?
Loan amounts range from $10,000 to $500,000.
What is the interest rate?
The rate is the Wall Street Journal Prime rate plus 1.5%, fixed at closing.
What is the repayment term?
Terms of up to 10 years are available.
What can the funds be used for?
The loan can be used for working capital and leasehold improvements.
Is this available outside the U.S. Virgin Islands?
No, it is limited to businesses located in the USVI.
What is the application deadline?
The deadline is listed as 'check current rounds' — confirm current timing at the official source.
Who runs this program?
The U.S. Virgin Islands Economic Development Authority's Economic Development Bank (EDB) administers it.
Is the loan amount or interest rate guaranteed to stay the same?
Confirm at the source, as amounts and terms should be verified for the current year.
Is this loan taxable?
Confirm at the official source; this detail is not specified in the available information.
Where do I apply?
Applications and information are available at https://usvieda.org/financing/.
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 (EDB); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.