Resources & Assessment

Loan Readiness Assessment

All potential applicants must complete this assessment before applying for a loan. It helps determine whether an applicant is loan-ready or should receive technical assistance or grant-based capacity-building support.

This assessment ensures every applicant receives the right level of support to grow sustainably and strengthen the Virgin Islands economy.

Assessment Overview

Assessment Categories

Business/Organization Information

This section captures the essential details about your business or organization — including name, type, years in operation, size, and leadership. It helps CIFVI understand who you are, what stage your business or nonprofit is in, and how long you've been operating within the Virgin Islands economy. These details provide context for evaluating your readiness and identifying the most appropriate support pathway.

Financial Management

This section assesses how well your organization manages its finances. It looks at whether you have a dedicated business bank account, maintain proper bookkeeping, file taxes consistently, and use accounting tools or systems. Strong financial management practices are key indicators of sustainability and readiness for loan or grant funding.

Financial Health

Here, CIFVI evaluates the current stability of your business or nonprofit. This includes reviewing your Profit & Loss statements, Balance Sheet, and cash flow projections, as well as understanding your debt obligations and credit status. This snapshot of financial health helps determine your organization's capacity to manage and repay a loan responsibly.

Business Operations & Strategy

This section examines how your organization plans, operates, and measures success. It covers areas like having a business or strategic plan, maintaining proper licenses or registrations, and tracking performance or outcomes. For nonprofits, it also looks at governance structures and internal controls. Together, these elements reflect how well your organization is positioned for long-term growth and impact.

Assessment Outcomes

Loan Ready

Proceed to application

Near Ready

Loan or grant may be next step

Technical Assistance

Referred to technical assistance

Resources & Support

Workshops & Webinars

Attend training on business planning, financial literacy, and marketing.

View Schedule

FAQs

Explore common questions and answers about eligibility, readiness, and support services.

What is the Community Impact Fund (CIF)?

▼

The CIF is a non-profit organization designed to expand access to capital and strengthen economic resilience across the U.S. Virgin Islands. We support small businesses and nonprofits through loans and capacity-building services that help organizations grow, stabilize, and build long-term sustainability.

What types of funding does the CIF offer?

▼

The CIF provides two primary financing pathways:

The Catalyst Fund

The Catalyst Fund accelerates access to capital for established businesses ready to expand and scale. Originally serving RTPark tenant companies, it now supports small and medium-sized enterprises across the Virgin Islands with loans up to $250,000.

The Catalyst Fund offers:

Transparent and supportive lending
Flexible, entrepreneur-centered repayment terms
Real-time portfolio management and guidance

The goal is to help businesses grow, innovate, and create jobs in the U.S. Virgin Islands.

The Virgin Islands LEAP Fund (VI LEAP)

The VI LEAP Fund supports businesses that may not yet be ready for traditional lending by pairing capital with hands-on technical assistance. VI Leap Loans range from $2,000 to $250,000.

VI LEAP loans are accompanied by:

Business coaching
Financial systems support
Operational capacity-building

VI LEAP is designed to help early-stage and emerging entrepreneurs stabilize, strengthen, and progress toward full loan readiness and long-term growth.

What is the Loan Readiness Assessment and why is it required?

▼

The Loan Readiness Assessment is the first step for all applicants. It helps the CIF to determine:

Whether you are ready for a loan now, or
Whether you would benefit first from technical assistance, planning support, or TA grant services.

This ensures every business receives the correct pathway, reduces loan denials, and sets up entrepreneurs for success.

What if I'm not loan-ready yet?

▼

If the assessment shows the need for support before taking on debt, you may be referred to our Technical Assistance Network, which provides:

One-on-one advising
Cohort-based business development sessions
The opportunity for Technical Assistance Grants that cover services like bookkeeping, legal filings, or marketing support

The goal is to strengthen your business foundation before taking on financial obligations.

What are the funding priorities and eligibility criteria?

▼

To be eligible for services through the CIF, applicants must:

Be a registered nonprofit or small business operating in the U.S. Virgin Islands
Complete the Loan Readiness Assessment
Receive a program referral from our Loan Officer

While this is NOT a requirement, priority consideration may be given to businesses in:

Health & Life Sciences, High-Value Tourism & Hospitality, Professional & Technical Services, and Renewable Energy & Sustainability in accordance with Virgin Islands vision 2040.

All businesses and nonprofits in need are encouraged to apply.

What can Technical Assistance grant funds be used for?

▼

Technical Assistance grant funds are designed to support business infrastructure and capacity buildings for entities not yet loan ready. Eligible uses include:

Bookkeeping and accounting services or software
Financial audits or financial reviews
Business plan development
Strategic growth and marketing planning
Legal formation or compliance updates

These supports help stabilize businesses and improve long-term financing readiness.

How do I get started?

▼

Visit www.cifvi.org
Complete the Loan Readiness Assessment
A CIF representative will follow up to discuss your next steps