There are three different types of Trade License  applications based on the following industry types  (i) Construction  (ii) Crewed Yacht / Charters (iii) General ( for all other business types) 

The main programme aim  is  lend financial assistance needy , BVIslander or Belonger owned small businesses in industry priority areas such as Technology and                                                                                                                                                                                           Technological innovations, Tourism and Cultural Industries, Marine Industry, Agriculture, Aquaculture, and Financial and Professional Services.

NO, the Loan Programme is a National Programme created to assist Virgin Islander or Belonger owned businesses that require access to financial assistance.

Yes, you have a right to know why your application has been denied

Although a business plan is not required to be submitted for all types of businesses, presenting one with your application will serve to help the officer reviewing your application to get a better understanding of your proposed business. 

NO, the term "Guarantee" in the Loan Guarantee Porgramme does not mean that an applicant has an automatic yes or is guaranteed to get a loan.  The bank has the final say on what   
application will or will not be awarded, with the Government providing the guarantee in the case of default, the bank takes into consideration  loans they otherwise wouldn't.

If all required documents are submitted with the application, it should take four to six weeks to process.  However, if additional information or an interview is required, you will be contacted by phone with three (3) business day of receipt of your application.

Once a decision has been made on your application, we will inform in writiting.


You probably won't get the money all at once.  Please note that the bank will require that you send in purchase orders or invoices before releasing any part of the funds. It is imperative that monies borrowed are used for the purposes for which they were granted. 

No, the Department of Trade & Consumer Affairs exists to foster development in the business sector and the wider economy through a clear Trade Policy and processes which are aimed at allowing successful applicants who have met the criteria to be able to start a business without prejudice.