Delaware Strategic Fund (Delaware)
Last modified on February 12, 2015.
The Delaware Strategic Fund represents the primary funding source used by Delaware Economic Development Authority (DEDA) to provide customized loans and grants to businesses for job creation, relocation and expansion. For businesses considering locating in the state of Delaware, financial assistance may be provided in the form of low interest loans, grants, or other creative instruments to support the attraction of businesses that pay sustainable wages. Assistance terms are negotiated specific to each firm’s individual needs and situation.
The process for obtaining Strategic Fund assistance requires completing an Application for Financial Assistance. Competition for the limited amount of funding available each year is strong and approval is not automatic. Applications are first reviewed by the DEDO Internal Investment Committee and if approved will be presented at a Council on Development Finance meeting. If the CDF recommend financial assistance from the Strategic Fund, a formal agreement will be prepared for execution. This agreement will contain business terms plus a customized recapture provision based on forecasted jobs and minimum salary requirements determined by location.
|Contact Name||Bernice Whaley|
|Department|| Business Financing