NC County Corridor Revitalization Fund loan window opens


True Access Capital (TAC), Claymont Renaissance Development Corporation and New Castle County Government
announced that applications are now being accepted for the New Castle County Corridor Revitalization Fund.  

Business owners located in one of three defined New Castle County commercial corridors can apply for grants
of up to $10,000 from the fund.

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,” said Van Hampton, President and CEO, “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 St. Wilmington
  • March 21, 6 p.m.- 8 p.m. at Claymont Fire Company, 3223 Philadelphia Pike, Claymont
  • March 27, 6 p.m. to 8 p.m. at Route 9 Wilmington, 3022 New Castle Ave., New Castle
    • 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.

 Up to $440,000 in total grant funds will be made available.  Support for this initiative is provided by New Castle County through the federal American Rescue Plan Act of 2021.

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 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.