DOVER – The Delaware Council on Banking is accepting applications for the Delaware Community Investment Venture Fund (DCIVF). The DCIVF provides funding opportunities for banking organizations, credit unions, and Community Development Financial Institutions (CDFIs) doing business in Delaware to better serve the needs of low- to moderate-income census tracts within the state.
“The Delaware Community Investment Venture Fund reflects our ongoing commitment to fostering equitable economic development across the state,” Governor Matt Meyer said. “By providing targeted support to financial institutions serving low-to-moderate-income communities, we are strengthening the foundation for inclusive growth and long-term prosperity in Delaware.”
Banks, credit unions, and CDFIs properly registered and authorized to conduct business in the State of Delaware may apply for one or more grants to support proposed programs that:
- Invest in the development of financial product or financial product underwriting innovations that will enhance access to capital, funding, and other financial services for businesses in low- to moderate-income tracts in Delaware
- Deploy, test, and evaluate these innovations for providing capital and funding to businesses in low- to moderate-income tracts in Delaware; and
- Promote and make these innovations available to a variety of banking organizations, Community Development Financial Institutions, and credit unions for use in enhancing access to capital, funding, and other financial services for businesses in low- to moderate-income tracts in Delaware.
“I created the community investment venture fund to build an economic ecosystem that provides more access to capital,” Senator Darius Brown said. “Commerce is the life’s blood of our economy and through intentional investments, we are the place where opportunity lives.”
The DCIVF application period opens today, May 15, 2025. There will be an optional virtual information session on May 22nd at 3:00 pm EDT. Banks, credit unions, and CDFIs interested in learning more about this funding opportunity can sign up using this link.
“The Fund aligns with our regulatory priorities of ensuring fair access to financial services and strengthening the safety and soundness of institutions serving vulnerable communities,” State Bank Commissioner Robert Glen said. “We encourage banks, credit unions, and CDFIs to apply.”
Applications must be completed and submitted on or before 5:00 pm EDT on June 16, 2025. Applications for the DCIVF and additional information can be found on here: DCIVF. For any questions, please email DCIVF@delaware.gov.
