Grow Delaware Fund
Financial Services - Wilmington, Delaware, United States
Grow Delaware Fund Employees
Grow Delaware Fund Details
Grow Delaware Fund supports economic development and meets small business financing needs in Delaware through borrower-friendly loans and financial management training and education. Founded in 2017 as a partnership between the National Development Council (NDC) and West End Neighborhood House (West End), Grow Delaware Fund operates as a community development lender to support the creation of jobs and the expansion of eligible small businesses in underserved communities, particularly those owned by minorities, veterans and women.We offer relatively low-cost, fixed-rate financing and, due to our economic development criteria, have more flexibility in working with businesses than most conventional lending institutions. Our competitive terms include: Longer Term LoansRepayment schedules (up to 25 years) that give the borrower smaller monthly loan payments to reserve cash flow for other business needsLarger LoansLoan amounts ranging from $100,000 to in excess of $2 millionLower Down PaymentsPreserve the business's equity and maximize growth potentialLower Interest RatesCash savings allow the business to continue to provide and add jobs in the communityBetter StructureMatch the term of the loan to the life of the assets being financed, ensuring debt service does not exceed available cash flowOur work is funded by grants from Discover Bank, Longwood Foundation and Delaware Department of State through the Division of Small Business, Development and Tourism. Our loans are partially guaranteed by the U.S. Small Business Administration (SBA) under NDC Grow America Fund's Small Business Lending Company license. NDC has Preferred Lender status nationwide.For more information:Website: https://growdelawarefund.org/ Phone: 302-658-4171 x122Email: info@GrowDelawareFund.org
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