Delaware.gov | Governor Jack A. Markell | Visitdelaware.com Delaware Economic Development Office  
   
Home Benefits Contact us

Who it helps:

Local Businesses: By allowing businesses the access to capital that it may not otherwise be able to obtain, the Delaware Capital Access Program is a great tool to help stimulate small business growth in Delaware.

Our Banking Partners: The Delaware Capital Access Program allows banks more flexibility when deciding who it can lend to. This will help the bank expand its business portfolio, increase market share, and retain existing clients.

Our Partners:

  • Applied Bank
    • Nathan Edmunds - 302-326-4200 Ext. 29528
  • First State Community Loan Fund
    • Vandell Hampton, Jr. - 302-652-6774
  • WSFS
    • Michael Skipper - 302-573-3259

Lender Testimonials:

First State Community Loan Fund
arrow

At First State Community Loan Fund, we are grateful for the partnership we have with DEDO. Their innovative economic development programs like the Access Program and the State Small Business Credit Initiative have helped us truly live out our mission of “providing creative opportunities for access to capital for small businesses, community organizations and developers of affordable housing throughout the State of Delaware.”

Through DEDO’s Access Program we have partnered to award millions of dollars in loan capital to start up and expand small businesses, and create affordable, safe daycare centers throughout Delaware. These loans have resulted in the creation of hundreds of jobs. We are fortunate to have such a great partnership with DEDO, and look forward to our continued joint efforts toward connecting business owners and communities to the vital capital needed for economic growth and prosperity throughout Delaware.

Vandell Hampton, Jr.
President & CEO
First State Community Loan Fund

WSFS Bank
arrow

“The Delaware Capital Access program provides WSFS Bank with the opportunity to expand its lending to Delaware small businesses. With the support of the Delaware Economic Development Office, the Bank has been able to extend loans and lines of credit to vital businesses in our community which might not otherwise qualify.”

Michael D. Skipper
Vice President, Community Development Manager
WSFS Bank

Success Stories:

Discount Oil, Newark, DE.
arrow

Discount Oil For First State Community Loan Fund (CLF) borrowers Kathy and Ron Warne of Newark, starting a business was all about family. The couple spent nearly two years working with Bob Rausch, Business Advisor at SBDTC on development of a business plan before they met Bob Kauffman, Community Lending Officer at First State CLF.Bob worked with them to get a loan to purchase a truck and a line of credit to purchase oil. Kathleen, a former paralegal with strong business skills runs the day to day operations. Ron has years of experience as an oil truck driver and serves as a part time driver when not working his fulltime job. They have also hired another fulltime driver to make deliveries.

Ultimately they hope to be able to serve all of New Castle County, but for now they are targeting the Newark area, the base of their operation.
Discount Oil has done so well since they purchased their first truck with a First State CLF Business Growth Loan in September 2011, that they have been able to purchase a second truck on their own. Discount Oil is one of the many Delaware businesses who benefit from First State CLF’s participation in DEDO’s State Small Business Credit Initiative.

Latin Fusion Restaurant
arrow

Latin Fusion Restaurant On May 21, 2013, Rebecca Rodriguez joined local officials for the Ribbon Cutting and Grand Opening of her new restaurant, Latin Fusion. The restaurant is located at 837 North Union Street in Wilmington, Delaware. Latin Fusion features a mixture of Latin foods that include dishes from Cuba, Puerto Rico, Dominican Republic, Venezuela, Colombia and Peru. The restaurant features an 80 person dining room and a 30 person lounge, with private function space. It is expected to create 12 jobs.

Ms. Rodriguez, who comes from a long line of entrepreneurs, will manage the restaurant and staff that includes an executive chef, two sous-chefs/line cooks, two kitchen employees, four waitresses and two bartenders.

Ultimately they hope to be able to serve all of New Castle County, but for now they are targeting the Newark area, the base of their operation.
Discount Oil has done so well since they purchased their first truck with a First State CLF Business Growth Loan in September 2011, that they have been able to purchase a second truck on their own. Discount Oil is one of the many Delaware businesses who benefit from First State CLF’s participation in DEDO’s State Small Business Credit Initiative.

Other Programs Available:

Delaware Rural Irrigation Program
State Small Business Credit Initiative
Tax-Exempt Bond Financing (Industrial Revenue Bonds)
[an error occurred while processing this directive]