
News & Press Releases
The Virgin Islands Catalyst Fund (“Fund”) was created through USVI legislative act 8464 with an initial capitalization of $5 million. The Fund will be managed by the University of Virgin Islands Research and Technology Park. The Fund will support business growth, job creation and incentive complementary economic development in the U.S. Virgin Islands by making loans to businesses that are eligible and receive approval from the Fund’s loan committee based upon a completed loan application and underwriting analysis.
News & Press Releases
The Fund is not intended to finance 100% of any business venture. The Fund will be looking for owners and investor to make equity contributions in a minimum of 10% to the venture, and to approach private lending institutions as a possible source of capital. The Fund is intended to complement these traditional capital sources.
Is an existing or new-to-market enterprise located in the Virgin Islands.
Has a Virgin Islands business license.
Has been in operation for more than 18 months or admitted in the RT Park or Economic Development Commission tax-exemption programs.
Is in good standing with the Virgin Islands Bureau of Internal Revenue or has entered a payment plan approved by the Virgin Islands Bureau of Internal Revenue.
**Demonstrates that the project meets federal guidelines if federal funds are used by the Fund as a source of capital, as is anticipated soon.
IT/Telecommunications
Sustainable Development/Energy services
Business Process Outsourcing/Centers of Excellence