Last Updated on February 1, 2024 by Lori Pace
Are you a small business owner in Delaware looking for financial assistance to support your growth and expansion? Look no further! Delaware offers a variety of grants specifically designed to help small businesses thrive.
In this article, we will explore the different small business grants available in Delaware and provide you with the information you need to find the right grant for your business.
Delaware understands the importance of small businesses in driving economic development and creating job opportunities. That’s why the state has established several grant programs to support entrepreneurs like you. Whether you need funding for research and development, infrastructure investments, or general business operations, grants are available to meet your specific needs.
By taking advantage of these grants, you can access the financial resources necessary to take your small business to the next level. So, let’s dive in and discover the small business grants in Delaware that can help you achieve your goals!
Encouraging Development, Growth & Expansion (EDGE)
The Division of Small Business in Delaware offers the Encouraging Development, Growth & Expansion (EDGE) grant program, which funds small businesses, including startups, to encourage their development and expansion.
The EDGE grant program supports business viability, job creation, and community economic growth. It provides funding opportunities to help businesses meet their financial needs, such as covering startup costs, expanding operations, or making business loan payments.
This grant program is awarded through a competitive selection process, with successful applicants receiving funding to support various eligible expenses.
DE Relief Grants
The DE Relief Grant provides financial assistance to small businesses and nonprofit organizations impacted by the COVID-19 pandemic. These grants are administered by the Delaware Division of Small Business and are funded through the federal CARES Act.
Business owners and nonprofit organizations can apply for these grants during the funding period, and they must meet the eligibility rules, including having at least 51% of their business based in Delaware. The application process is done online, and it is important to note that grants do not need to be repaid.
The DE Relief Grants can provide much-needed financial assistance to businesses and nonprofits in Delaware, helping them navigate the challenges brought about by the COVID-19 pandemic and continue to serve their communities.
Transportation Infrastructure Investment Fund
Delaware’s Transportation Infrastructure Investment Fund aims to improve your business’s transportation infrastructure and enhance connectivity. The fund provides business grants to help small Delaware businesses with their transportation infrastructure needs.
By accessing this investment fund, business owners can receive financial assistance to upgrade their transportation systems, such as roads, bridges, and public transportation. This can lead to improved accessibility, efficiency, and overall economic development in the state.
Through the Transportation Infrastructure Investment Fund, you can create a more efficient and reliable transportation system for your business, ultimately leading to increased productivity and customer satisfaction.
Delaware Strategic Fund
The Delaware Strategic Fund provides opportunities for businesses to strategically invest in their growth and development strategically, fostering economic progress and creating a stronger foundation for success. This fund allows businesses to access various resources and incentives to support their long-term strategic plans.
The Delaware Strategic Fund also offers a range of incentives to encourage business growth and expansion. These incentives can include grants, tax credits, and low-interest loans to support entrepreneurs in expanding or retaining their businesses, hiring new employees, or investing in new technologies.
By leveraging the Delaware Strategic Fund’s resources, your business can receive the financial assistance it needs to thrive and succeed. Whether you want to expand your operations, invest in new technology, or launch innovative projects, the Delaware Strategic Fund can provide the necessary support.
Delaware’s State Small Business Credit Initiative-Funded Programs
The State Small Business Credit Initiative (SSBCI) offers various programs that aim to provide financial assistance to small and early-stage businesses, especially those in underserved communities. The SSBCI funding is administered by the federal government as part of the American Jobs Plan. This funding will be utilized to stimulate economic development, create jobs, and drive innovation in Delaware.
Delaware’s State Small Business Credit Initiative (SSBCI) offers a range of grants and financial assistance to small businesses and entrepreneurs in the state. The SSBCI funds various business entities, including women-owned businesses, minority-owned businesses, and businesses in low-income areas.
By leveraging these grants, you can overcome financial barriers, obtain a business license, and thrive in Delaware’s business-friendly environment.
Energy Efficiency Investment Fund
Leverage the Energy Efficiency Investment Fund to enhance your operational efficiency and reduce costs for your business in Delaware. This fund is designed to support clean technologies and sustainable practices, making it an ideal opportunity for businesses looking to make energy-efficient upgrades.
The funding program provides financial assistance to small businesses, academic institutions, and healthcare institutions that meet the eligibility rules. By accessing this fund, your business can invest in energy-saving initiatives, such as upgrading equipment, implementing energy-efficient technologies, and improving energy management systems.
This helps reduce your business’s carbon footprint and lowers energy costs, leading to long-term savings and increased profitability. Take advantage of the Energy Efficiency Investment Fund to make your business more sustainable and environmentally friendly while boosting your bottom line.
Amber Grant for Women
The Amber Grant provides financial assistance to women entrepreneurs in Delaware, allowing them to fund their business ventures and take their ideas to the next level. By offering grants specifically for women, the Amber Grant aims to promote economic empowerment and gender equality in the business world. It recognizes women’s unique challenges in entrepreneurship and provides the support needed to overcome them.
The Amber Grant provides funding, resources, and mentorship opportunities to help women entrepreneurs develop and grow their businesses. It is a comprehensive program that supports all aspects of business development, from idea generation to market expansion.
Wilmington Strong Fund
The Wilmington Strong Fund offers a powerful boost to entrepreneurs in Wilmington, providing essential support for their business endeavors. This fund, which is part of the COVID strategic response fund, aims to provide grants and funding to small businesses in Delaware.
The Wilmington Strong Fund offers financial assistance, support, and resources to help businesses thrive. It collaborates with government agencies and education agencies to offer entrepreneurial training and assistance.
Additionally, True Access Capital, a nonprofit lender, works closely with the Wilmington Strong Fund to financially support small businesses. This fund is crucial in empowering entrepreneurs in Wilmington and creating a thriving business community.
Eligibility Requirements and Application Guidelines for Small Business Grants in Delaware
Delaware entrepreneurs must meet specific eligibility requirements and adhere to application guidelines to qualify for these valuable funding opportunities. Here are five important points to consider when applying for small business grants in Delaware:
- Eligible businesses: Ensure that your business meets the criteria set by the grant program. This may include factors such as being a small business, operating within a specific industry, or having a certain number of employees.
- Application process: Familiarize yourself with the application process, including any deadlines and submission requirements. Be prepared to provide detailed information about your business, its goals, and how the grant funds will be used.
- Application materials: Gather all necessary documents, such as financial statements, business plans, and supporting documents. Pay attention to any specific formats or templates required by the grant program.
- Application portal: Use the designated application portal or online platform to submit your application. Ensure that you have a reliable internet connection and follow the instructions provided.
- Application assistance: Seek guidance from application experts or organizations that offer application assistance. They can provide valuable insights, review your application, and help improve your chances of success.
By following these guidelines and taking advantage of the resources available, you can increase your chances of securing much-needed funding for your small business in Delaware.
How to Find the Right Grant for Your Small Business
With many business grants available in Delaware, finding the right grant that aligns with your specific needs and objectives is important.
To find the right grant for your small business, start by researching the various grant programs offered in Delaware. Explore the Delaware Division of Small Business website, which provides comprehensive information about the available grant programs.
Additionally, reach out to organizations such as the Delaware Small Business Development Center, Delaware Economic Development Office, and Delaware Small Business Administration for guidance and assistance in finding the right grant for your small business.
It’s also crucial to thoroughly review each grant program’s eligibility requirements and application guidelines to ensure you meet them. Consider factors such as the industry focus of the grant, the funding amount available, and any specific requirements or preferences outlined by the grant provider.
By conducting thorough research and seeking guidance from relevant organizations, you can increase your chances of finding the right grant to support your small business in Delaware.
Alternative Resources for Small Businesses in Delaware
Explore the many resources available to support your small business journey in Delaware. In addition to business grants, there are alternative resources that can provide financial assistance and support for small businesses in the state.
These resources include government agencies and community organizations that are dedicated to promoting entrepreneurship and economic development. The Delaware Small Business Development Center (SBDC) offers free or low-cost counseling and training for small business owners. The Delaware Economic Development Office (DEDO) provides programs and services, including financing options.
The Delaware Small Business Administration (SBA) offers assistance and financing options for small businesses. The Delaware Department of Natural Resources and Environmental Control (DNREC) provides programs and financing opportunities. The Delaware Division of Small Business also provides assistance and financing programs for small businesses.
By tapping into these alternative resources, small businesses in Delaware can access the support they need to thrive and succeed.
Frequently Asked Questions
What is the maximum amount of funding that small businesses can receive through the EDGE Grants program in Delaware?
Through the EDGE Grants program in Delaware, small businesses can receive up to $100,000 if they are STEM-based and up to $50,000 for non-STEM businesses. The funds are provided as a $3 to $1 match.
Can non-Delaware companies apply for the DE Relief Grants if they relocate their business to Delaware?
Non-Delaware companies can apply for the DE Relief Grants if they relocate at least 51% of their business to Delaware. The grants are available to small businesses and nonprofits impacted by the COVID-19 pandemic.
Are sole proprietorships eligible to apply for small business grants in Delaware?
Yes, sole proprietorships can apply for small business grants in Delaware. They can use the various grant programs the Delaware Division of Small Business offers to receive funding for their business objectives.
Conclusion
In conclusion, small business grants in Delaware offer a wide range of opportunities for entrepreneurs and startups to thrive. Whether through the EDGE Grants program, DE Relief Grants, or other initiatives like the Transportation Infrastructure Investment Fund and Delaware Strategic Fund, the state provides financial assistance and resources to support small business development, growth, and expansion.
To access these grants, carefully reviewing the eligibility requirements and application guidelines is important. Doing so can ensure that you meet the necessary criteria and increase your chances of receiving funding. Furthermore, exploring alternative resources and organizations in Delaware that offer additional support and assistance to small businesses is advisable.
Overall, small business grants in Delaware are an essential resource for entrepreneurs looking to start or expand their businesses, and finding the right grant can make a significant difference in their success.
