New Castle County Corridor Revitalization Fund application opens
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Eligible applicants include small businesses and landlords with businesses located on or near Philadelphia Pike, Route 9 and Route 13. | PHOTO COURTESY OF TAC
WILMINGTON – True Access Capital (TAC), the Claymont Renaissance Development Corporation, and the New Castle County Government have announced applications for the New Castle County Corridor Revitalization Fund are open. This fund is aimed at supporting business owners situated within three designated commercial corridors in New Castle County. Eligible applicants can apply for grants of up to $10,000 from this fund to aid in the revitalization of these areas.
A total of $440,000 in grant funds will be distributed for this initiative, with backing from New Castle County under the federal American Rescue Plan Act of 2021.
Eligible applicants include small businesses and landlords with businesses located on or near North Market Street in Wilmington, two sections of Philadelphia Pike and on Route 9/ Route 13. Grants will be awarded to support improvements such as facades, landscaping/streetscape improvements, signage, and other interior and exterior improvements.
“This funding will go a long way toward revitalizing these long-standing commercial areas,” Van Hampton, President and CEO, said in a statement, “and is consistent with the True Access Capital goal of helping to build communities by providing access to capital and technical services.”
Four public information sessions have been scheduled to explain the program and application process:
- March 20, 6 p.m. to – 8 p.m. at Wilmington Public Library, 3400 N. Market Street, Wilmington, DE
- March 21, 6 p.m. – 8 p.m. at Claymont Fire Company, 3223 Philadelphia Pike, Claymont DE
- March 27, 6 p.m. to 8 p.m. at Route 9 Wilmington, 3022 New Castle Ave., New Castle DE
- March 28, 6 p.m. to 8 p.m. at Brandywine Hundred Fire Company, 1006 Brandywine Blvd., Wilmington DE
Two tiers of grants are included in the program:
- Small Grants up to $5,000 to support interior and exterior improvements
- Large Matching Grants that provide up to $10,000 and must be matched dollar for dollar by the applicant. The applicant’s equity match could come in the form of cash or debt. TAC will also consider investments made by the applicant within the last 6 months, as meeting the equity match requirement.
Grant funds will be distributed on a first-come, first-served basis. Applications are now being accepted and the funding round will close when the funds are exhausted. Applications should be submitted to David Ortiz at dortiz@trueaccesscapital.org. Award announcements will be made on a rolling basis as the applicants are approved.
All businesses will be able to take advantage at no cost to TAC technical assistance offerings, which include, but are not limited to, business training classes/workshops, entrepreneurial coaching/consulting and networking opportunities.
TAC will also make available to all program participants its full range of loan programs. Small businesses seeking loan funds through TAC are required to complete TAC’s normal underwriting process.
Please visit https://bit.ly/3R5bxz0 for designated corridor maps, the grant application, program guidelines and submission instructions.
