§ 1258. Technical assistance and management training; financial assistance to organizations to provide technical assistance
(a) In order that eligible persons, as defined in section 1252 of this chapter, may establish and operate small business concerns in the United States Virgin Islands, the Director shall provide technical assistance. The technical assistance provided shall include, but not be limited to the following: (1) aid in preparing loan applications and presentations. (2) […]
§ 1258a. SBDA Managerial and Technical Assistance Fund
There is established in the Treasury of the United States Virgin Islands a special fund to be known as the SBDA Managerial and Technical Assistance Fund (hereinafter referred to as the “Fund”). Said Fund shall be maintained for the purpose of deposit therein of funds received from the Federal Small Business Administration to provide managerial […]
§ 1251. Declaration of policy
The essence of the American economic system is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The initiation, preservation, and expansion of such competition is basic not only to the economic well-being of […]
§ 1252. Eligibility for assistance; definition of small business concern
(a) A person shall be eligible for all forms of assistance under this chapter if— (1) he owns at least fifty percent (50%) legal or equitable interest in a small business concern, either established or to be established, in the United States Virgin Islands; and (2) he is or will be active in the management […]
§ 1253. Small Business Development Agency; director; loan policy board
(a) In order to carry out the policies of this chapter there is created a subsidiary entity under the name of “Virgin Islands Small Business Development Agency” (herein referred to as the Agency) within, and wholly administered and operated by the Economic Development Authority. (b) The management of the Agency shall be vested in the […]
§ 1254. General powers, appointment and compensation of personnel; use of other services and facilities
(a) The Agency shall have power to adopt, alter, and use a seal, which shall be judicially noticed. The Director is authorized, subject to the provisions of chapter 25 of Title 3 of the Virgin Islands Code, to select, employ and recommend for appointment such officers, employees and agents as shall be necessary to carry […]