Discover how the State Small Business Credit Initiative (SSBCI) program, federally funded through the U.S. Department of the Treasury, can empower entrepreneurs and small businesses in the U.S. Virgin Islands. This webinar, hosted by USVIEDA's Economic Development Bank, provides an in-depth overview of the program's purpose, including how it helps increase access to capital through guarantee support for business loans from participating lenders. Learn about the opportunities available to support your business growth.
SSBCI has four programs, including:
1. Collateral Support Program: Up to 50% collateral support, not to exceed $500,000 of the lender’s loan.
2. Loan Participation Program: Up to 30% participation rate support for the lender’s loan.
3. Loan Guarantee Program: Up to 80% guarantee support on the lender’s loan.
4. Payment, Surety, and Performance Bond Program: Up to 80% of the 10% collateral security requirement for small contractors' performance bonds.
Key Webinar Topics Covered:
- Overview/Purpose of the SSBCI program
- Four SSBCI Programs
- Eligible Activities
- How the Program Works
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