Calling all Delaware business owners! If you need funding for your Delaware-based business, this list is for you. On this page, you’ll find business grants and loans that are only available to businesses that operate within the small but mighty state of Delaware. Take a look to assess whether any of these Delaware business funding options are right for your business.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Delaware Loan Participation Program
Part of the State Small Business Credit Initiative (SSBCI), the Delaware Loan Participation Program (DELPP) assists small businesses that don’t have easy access to loan products or that don’t qualify for traditional loans. Businesses may be eligible to apply for a DELPP loan if they operate in the state of Delaware and plan to use the funds for an industrial, commercial, or agricultural endeavor.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Delaware Capital Access Program
The Delaware Capital Access Program—another SSBCI initiative—offers collateral coverage to businesses that have minor collateral or credit issues or that operate in socially or economically disadvantaged areas. Businesses may be eligible to apply for a DELPP loan if they operate in the state of Delaware and plan to use the funds for an industrial, commercial, or agricultural endeavor.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Delaware Site Readiness Fund
In an effort to increase economic growth throughout the state, the Delaware Site Readiness Fund provides grants and loans to qualified businesses that are committed to the construction, renovation, or improvement of commercial business sites. In order to qualify for financing, the site must be over 10 acres and located in Delaware. Depending on the size of the site and your construction expenditures, you can get up to $100,000 in grant money—or up to $2.5 million.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: EDGE Grants
Businesses located in Delaware may be eligible for an EDGE (Encouraging Development, Growth, and Expansion) Grant if they’ve been in operation for under seven years and employ fewer than ten people. For STEM-based companies, a grant of up to $100,000 may be awarded. For non-STEM-based companies, a grant of up to $50,000 may be awarded.
Department or Agency: Muncie-Delaware County
Loan or Grant title: Muncie-Delaware County Microloan Program
Muncie-Delaware County businesses can apply for financial assistance from this microloan program, which provides loans for a variety of purposes, from land acquisition to working capital. Loan amounts range between $10,000 to $25,000.
Department or Agency: The City of Wilmington’s Office of Economic Development
Loan or Grant title: Grow Wilmington Fund
In partnership with the Grow America Fund, the Grow Wilmington Fund helps small and medium-sized businesses grow their operations in Wilmington. Qualified businesses must be in business for more than two years and have between two and 500 employees and annual revenues between $500,000 and $20 million. Loans range from $150,000 to $2.5 million and can be used for working capital, equipment, real estate, and other expenses.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Workforce Training Grant
The Delaware Division of Small Business offers a matching grant program to businesses that invest in specialized training programs to upskill their employees. Eligible businesses can get up to 50% of their qualified training costs reimbursed, up to $100,000.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Modernization Investment Support Initiative (MISI) Program
The Modernization Investment Support Initiative (MISI) Program gives grants to eligible Delaware businesses that need help modernizing their operations to remain competitive. Eligible businesses can get up to 20% of approved modernization expenses reimbursed, up to $1 million per project. Businesses can use the funds toward equipment and machinery purchases, construction, and engineering services. In order to qualify, businesses need to have an operating history of at least ten years, have a proposed modernization budget of at least $1 million, and demonstrate a need for updates to remain competitive.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Delaware Technical Innovation Program (DTIP)
The Delaware Technical Innovation Program provides transition grants to companies that have progressed through Phase I and applied for Phase II of the federal Small Business Innovation Research or Small Business Technology Transfer programs. The maximum grant amount is $50,000 and can be put toward scientific research, market research, product planning and development, and more.
Department or Agency: Delaware Division of Small Business
Loan or Grant title: Delaware Graduated Lab Space Incentive Program
The Graduated Lab Space Incentive Program supports Delaware companies that need more lab space to operate and innovate. Businesses can apply for a grant that covers up to one-third of the fit-out or building costs for a new lab space; the maximum grant amount is $70 per square foot for up to 50,000 square feet.
Department or Agency: Delaware Department of Natural Resources and Environmental Control (DNREC)
Loan or Grant title: Hazardous Substance Site Cleanup Loan Program (HSSCLP)
The Hazardous Substance Site Cleanup Loan Program (HSSCLP) gives low-interest loans to businesses that invest in cleaning up hazardous substance sites.
Department or Agency: Delaware Department of Natural Resources and Environmental Control (DNREC)
Loan or Grant title: Delaware Brownfields Revolving Loan Fund
Through the Delaware Brownfields Revolving Loan Fund, businesses can get flexible loans to cover the costs of rehabilitating designated brownfield sites within Delaware. Loans range from $10,000 to $400,000 with fixed interest rates that depend on your business type.
Department or Agency: True Access Capital
Loan or Grant title: Micro Loan Program
Certified CDFI True Access Capital offers loans to Delaware small businesses. Their microloan program gives eligible businesses loans ranging from $10,000 to $50,000 for startup expenses, working capital, inventory, and equipment.
Department or Agency: True Access Capital
Loan or Grant title: Business Growth Loan
True Access Capital also has a Business Growth Loan for businesses that need more than $250,000 in capital for inventory, working capital, equipment purchases, real estate acquisition, and more. Eligible businesses need to have an operating history of at least two years.
Department or Agency: True Access Capital
Loan or Grant title: Business Growth Loan
True Access Capital also has a Business Growth Loan for businesses that need more than $250,000 in capital for inventory, working capital, equipment purchases, real estate acquisition, and more. Eligible businesses need to have an operating history of at least two years.
