There is a new initiative to support small businesses in Wilmington and throughout the State of Delaware! The Grow Delaware Fund – will provide $5 million to support loans to small businesses in Delaware that are seeking to strengthen their operations and grow jobs.
The new program, the Grow Delaware Fund, will offer loans from $150,000 to $4 million, subject to guidelines and loan fund availability. Loans can be used for things like:
- *Working Capital - to be repaid over 10 years
- *Machinery and Equipment - to be repaid over 10 years
- *Real estate acquisitions/renovation of owner-occupied businesses - to be repaid over 25 years
- *Tenant improvements - to be repaid over the life of the lease
- *Refinancing existing debts
Press on the project can be found below. Join us in congratulating The West End Neighborhood House, The Longwood Foundation, Discover Bank, Department of State Division of Small Business Development and Tourism and the National Development Council and all those who worked so hard for this project that will play a major key in economic development.