Application Eligibility Criteria
For loans of 5k or less, applicant/business must meet the following criteria:
1. Be over 18 years
2. Hold a valid BVI trade licence (We will accept applications from individuals who are in the process of applying for a trade license however they must understand that even if they are approved for a loan through the Kickstart Loan Programme disbursement of the loan is contingent on them having a valid trade license to operate in the BVI)
3. Have limited access to financing (For entrepreneurs who are unable to attain a loan from a bank or any other means of financial support)
4. Have operated a business or worked in a senior position operating a business for over a year
5. Business operates with ethical practices that take the welfare of both people and planet into careful consideration
6. Demonstrate a viable business plan complete with financial planning/forecasting
7. Contribute positively to the BVI economy post Hurricane Irma and Covid-19 (in-line with Government: Stronger, Smarter, Greener, Better)
8. Demonstrate a plan for how they will incorporate a "Business as a Force for Good" Approach*.
* Unite BVI’s definition of businesses that have a ‘Force for Good Approach’ are those that:
- Actively address challenges being faced by the community or environment with sustainable business-based solutions
- Incentivise their employees to ‘give back’ to their communities/the environment
- Provide ‘in-kind’ services to local charities, community groups and ‘good causes’
- Have strong ‘Social Corporate Responsibility’ strategies
- Operate with ethical practices that take the welfare of both people and planet into careful consideration.
For loans of more than 5K (25K max), in addition to all of the above criteria, applicant/business must also:
9. Demonstrate that their business will DIRECTLY be solving a challenge facing the environment and/or communities with a business-based solution and that a percentage of the business’s profits will be re-investing into scaling the social impact enterprise. The resulting positive lasting impact should be on either preserving or rehabilitating the natural environment of the BVI and/or enriching the lives of those living within the communities of the BVI by addressing a social welfare or public health need.
10. Demonstrate strong business viability in the current business climate (Submit a business plan complete with financial planning/forecasting that demonstrates scalability of the social impact enterprise)