Hundreds More VI Businesses Receive Federal Funding

Good news for several more small businesses in the Virgin Islands, in the form of millions of dollars through the Paycheck Protection Program (PPP).

The U.S. Small Business Administration has approved an addition 723 loans, totaling $52,042,710 in funding through the PPP.

This is in addition to the 240 businesses which received more than 62 Million in the first round of funding.

USVI small-business owners who have yet to submit an application are strongly encouraged to apply as soon as possible, as the 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.

Click here for more information on the Paycheck Protection Program.