The 2020 KickStart BVI Small Business Loan Initial Assessment Form
STEP 1 The Initial Assessment Form.
Filling in this form is the FIRST STEP in the KickStart BVI Small Business Loan application process. Please take the time to fill it in thoroughly and be sure to submit it no later than Sept 23rd, 2020. All of your information will be kept commercially confidential.
We are really excited to hear more about your idea...
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)
Your Full Name
Business Name and Description
In 5 sentences or less summarise your business/business concept
Website (if available)
How old are you?
65 and older
Where were you born?
How many years have you lived in the BVI?
Less than 1 year
more than 10 years
All my life!
Is your KickStart BVI Loan request for a start up idea or an expansion of an already existing business?
Expansion for an existing business
How much money would you like to loan?
$1,000 or less
$5,000 or less
$10,000 or less
$25,000 or less
Have you ever applied for a loan? If so, were you approved or denied? Please briefly describe what your journey for requesting funding has been like?
Please briefly describe how your business helps to solve a challenge facing the environment and/or community with a business-based solution ?
What statement best describes your current business status:
I have a great idea! I want to apply as a start up business.
I have a currently operating business in need of financial assistance and support
I have a successfully operating business and want to expand
Tell us why your business is such a great idea...
Where is (or will be) the primary location of your business?
Do you have a valid trade licence?
I have applied for one and my application is pending approval
I have applied for one and been denied
I have an expired trade licence
I have a Belonger partner who holds a valid trade licence
Are you working right now?
No, I am unemployed (but I would like to be working)
Yes, I am employed on a full time basis
Yes, I am employed on a part time basis
I do casual freelancing
I am a full time student
I am unable to work
I am currently self employed
I have a life of leisure
What is your total annual household income?
What are your assets that could be used as collateral? (We won't make you put them down as collateral but it is helpful for us to know what they are when assessing providing a loan)
I have a house or piece of land that is paid off (no mortgage)
I have a house or piece of land that I still owe a mortgage on
I own a car that is paid off
I have a car that I have taken a loan out to buy
I own a boat that is paid off
I own a boat that I have taken a loan out to buy
I have a business that I have taken a loan out to start/grow
I have a business that has no debt attached to it
I have other assets that could be used as collateral to apply for a loan through a bank
The following best describes my professional experience...
I have owned and operated my own business for over one year
I have worked in senior management running a business for over one year
I have never owned, operated or worked in senior management running a business before
I understand the term "Financial Forecasting" and have done financial planning for my business...
No, but I would like to have the opportunity to work with a mentor or go through training to understand how to do this better
No and I don't believe that it is necessary to run a successful business
I have developed and written down a business plan
No, but I would like to and just need some guidance on how to write one
No and I am not interested in writing one
Please check all of the below that apply to your business:
My business directly addresses challenges being faced by the community or environment with a sustainable business-based solution
I incentivise my employees to ‘give back’ to their communities and or the environment
My business provides ‘in-kind’ services to local charities, community groups and ‘good causes’
My business has a strong ‘Social Corporate Responsibility’ strategy
My business operates with ethical practices that take the welfare of both people and planet into careful consideration
My business does none of the above and I have no plans to change that
My business currently does none of the above but I would like it to and I would be willing to work with a mentor to help me think through how I could incorporate some of the above into my business plans
Please briefly describe how your business does/will contribute positively to the BVI economy post Hurricane Irma and Covid-19 (in-line with Government: Stronger, Smarter, Greener, Better)...
I have thought about and understand what it means to ensure that my business operates with "ethical practices that take the welfare of both people and planet into careful consideration"
Yes, I have thought about this and have incorporated plans for how to do this.
I don't think it's that important and so don't plan to spend time making plans on how to do this
I don't really understand what this means but I would like to so that I can make sure to do this.
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