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U.S. Small Business Administration approves over $52 million in funding for Paycheck Protection Program (PPP) for USVI small businesses in response to coronavirus pandemic

CHARLOTTE AMALIE, U.S. Virgin Islands – May 8, 2020 –The United States Small Business Administration (SBA) approved an additional 723 loans totaling $52,042,710 in funding for the Paycheck Protection Program (PPP) for U.S. Virgin Islands small businesses as of Tuesday, May 5, 2020.  

USVI small-businesses owners who have yet to submit an application with their local U.S. SBA Lender Partner are strongly encouraged to apply as soon as possible as these federal assistance loans are available on a “first-come, first-served” basis. Small-business owners are strongly encouraged to contact their local U.S. SBA Lender Partner in the Territory to apply.  

USVI lender partners are Bank of St. Croix, Merchants Commercial Bank, Oriental Bank, First Bank, and Banco Popular de Puerto Rico.

Small-business owners can visit www.sba.gov/coronavirus for the most updated information on the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) and other U.S. SBA Programs.

For technical assistance, contact the Virgin Islands Small Business Development Center (VI SBDC) at 340-693-1694, or by email at info@visbdc.org.  The VIEDA office can also be contacted at 340-714-1700 or via email at info@usvieda.org.  

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