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The RTPark Community Impact Fund (CIF) is expanding its reach with new leadership and a holiday microloan program designed to help small businesses prepare for the Crucian Christmas Festival. The nonprofit announced Patricia Morris as executive director and Akem J. Durand as loan officer. Both are St. Croix natives who bring decades of experience in business, finance and economic development. Morris brings more than 25 years of experience in national and international socio-economic development and nonprofit management. She has led social inclusion and local economic development initiatives in more than 20 countries and is recognized for her work in gender equity and community-centered development. She said she plans to focus the CIF’s efforts on helping small businesses and local entrepreneurs gain access to the capital they need. “The CIF will be a key player in economic development in the Virgin Islands,” Morris said. “We will be focusing on local entrepreneurs and small businesses, where there has not been the necessary access to financing — even though studies have shown that small businesses are the engine of economic growth. Our approach is contextual, meaning we work with local businesses where they are and accompany them on their journey to loan readiness and sustainability.” Durand, a U.S. Air Force veteran and founder of Swift Capital Options, joins with a decade of experience in lending and business finance. He previously served as vice president and business development officer at Colony Bank, where he led high-value loan financing and developed AI-based client acquisition strategies. “I understand the challenges that come with running and growing a business in the Virgin Islands,” Durand said. “We want to make the lending process more accessible and ensure that entrepreneurs have the tools and resources to succeed.” CIF operates two main financing programs — the Catalyst Fund, which provides up to $250,000 to help established businesses expand and create jobs, and the Virgin Islands LEAP Fund, which offers loans ranging from $2,000 to $250,000 for emerging enterprises. Both include coaching and technical assistance to help entrepreneurs along the process. In addition to the new leadership appointments, the organization has launched the 2025 Crucian Christmas Festival Microloan Program, offering $2,000 to $15,000 for entrepreneurs preparing for the holiday season and Festival Village. Durand said the program was created to support small business owners, vendors, artisans and farmers who drive the local economy during one of the busiest times of the year. “We wanted to show our commitment to the people of the Virgin Islands, not just big business,” Durand said. “By standing with the local entrepreneurs who carry the legacy of our culture forward, we aim to ensure that they, too, benefit from the prosperity this time of year brings.” The program offers quick approval and disbursement, with low-interest, short term loans tailored to small business needs. The funds can be used to increase inventory, restock supplies, prepare booths or expand seasonal operations. Interested businesses can begin the application process by completing a Loan Readiness Assessment at www.cifvi.org. “It is an honor to support local entrepreneurs and micro businesses that power the Christmas Festival economy,” Morris said. “We are proud to offer this special loan program to help them ‘Get Festival Ready!’” “CIF also has exciting plans to roll out special microloan programs next year for Carnival entrepreneurs, farmers, fishers and other sectors,” she added. “We are inviting interested investors and new giving partners to join us by supporting one of our special loan programs and our efforts to build a vibrant local economy.” CIF will also host a reception and Q&A session on from 6:30 to 8 p.m. on Wednesday at the RTPark conference room on St. Croix, where applicants can learn more about the program and receive support with applications.
