Fourteen budding entrepreneurs were celebrated on Thursday, December 5, 2024, during the official contract signing for the Unite BVI KickStart Small Business Loan Programme 2024.
The event, held at VP Bank, marked the conclusion of a rigorous process in which applicants underwent training and met all the necessary requirements to secure funding for their small businesses.
The cohort included 4 Impact Loans and 10 Micro Loans, offering recipients zero-interest financing, training, mentorship, and ongoing networking opportunities. The KickStart Programme, now in its third cohort, aims to foster a vibrant entrepreneurial culture that drives social, environmental, and economic growth in the British Virgin Islands (BVI).
Unite BVI Foundation Manager Kim Takeuchi emphasized the program’s “pay-it-forward” model, which relies on loan repayments to sustain future cohorts.
“These programs create jobs, advance livelihoods, and strengthen the economy by building economic resilience through marketplace diversification,” Takeuchi said.
Launched in July 2024, this year’s programme featured free training, mentoring sessions with BVI business leaders, and collaboration with agencies like Social Security, NHI, and Inland Revenue. Applicants were required to submit business plans, financial forecasts, and demonstrate a commitment to being a “Force for Good” by including environmentally or socially conscious elements in their proposals.
Of the 29 applications received, the final 14 were selected based on a thorough review, interviews, and scoring process. Loan recipients were celebrated for their vision, determination, and potential to make a meaningful impact in the community.
For six years, Unite BVI has partnered with VP Bank to execute this flagship programme. Additional support comes from organizations like HIRE BVI, IGNITE, and the Branson Centre of Entrepreneurship Jamaica. The Ministry of Financial Services, Labour, and Trade also contributed to building a robust mentorship and business development framework.
At the contract signing, loan recipients shared insights into their business ideas and reflected on their journey through the program. The applicants also highlighted how their businesses align with the program’s ethos of creating social and environmental benefits.
The Unite BVI KickStart Programme continues to play a vital role in supporting small businesses and building a resilient economy in the Virgin Islands. By fostering innovative and impactful entrepreneurs, the program ensures a lasting positive effect on society and the environment while paving the way for future generations of BVI entrepreneurs.