Congress Approves $1.2 Million of CARES Act Funding for VI-SBDC

V.I. Small Business Development Center

The United States Congress approved CARES Act Funding of $1,280,000 to the Virgin Islands Small Business Development Center (VI SBDC) to assist USVI small businesses affected by the COVID-19 (coronavirus) pandemic.

These funds will be used for eligible projects and provide additional non-monetary resources for small businesses throughout the territory. The majority of these funds will be dedicated to local qualified contractors in various professional services and industries to provide specific assistance that small businesses may need.

“The VI SBDC will utilize these funds to work with local partners to provide additional technical assistance for entrepreneurs and small businesses affected by the coronavirus pandemic.  In addition, the SBDC will increase its ability to engage communities on all three islands with updated resources and improved flexibility for services,”  said Ted Gutierrez, VI SBDC state director.

The VI SBDC is partially funded by the federal government, and it partners with the Small Business Administration (SBA). The University of the Virgin Islands (UVI) hosts and provides matching funding to deliver services to the U.S. Virgins Islands.

For technical assistance or inquiries, contact the Virgin Islands Small Business Development Center for St. Thomas-St. John at 693-1694; for St. Croix. call 692-4294; or email [email protected].

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