VI Dept. of Property and ProcurementIssuing agency·Saint Croix, VI·via a public procurement portalRFP VIEO Revolving Loan Fund (RLF) Interest Rate Buy Down (IRBD)
The selected financial institution(s) will perform loan origination, interest rate buy down implementation, loan servicing, and coordination with VIEO. Loan origination involves providing consumer financing for eligible energy efficiency projects for single-family homes, condominiums, and small multifamily residential buildings, with expected loan sizes of $5,000–$50,000 per project. The lender will collaborate with VIEO to implement the IRBD structure, where VIEO provides a lump-sum interest rate subsidy payment at loan issuance to reduce the borrower's rate to 4%. The lender is responsible for loan underwriting, origination, payment collection, servicing, delinquency management, and reporting. The lending partner will coordinate with VIEO to verify borrower eligibility, income qualification, energy audit completion, and approved retrofit measures.
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Source: VI Dept. of Property and Procurement (solicitation BD-26-270-2702-3392), retrieved via a public procurement portal. View the official posting, and always confirm requirements and deadlines with the issuing agency.
