Gov. Carney announces program to support small businesses in Delaware

WILMINGTON, Del. – On Wednesday, Governor John Carney announced the Hospitality Emergency Loan Program (HELP) to provide financial relief for restaurants, bars, and other hospitality industry business in the state.

These no-interest loans are capped at $10,000 per business per month, and can go towards rent, utilities, and other unavoidable bills, but cannot be used for personal costs. The loans have a 10-year term with payments deferred for nine months.

The Division of Small Business says they are administering the program using existing state funds, and hope to have an application available later this week. Eligible business must have been in operation for at least a year, have annual revenue below $1.5 million, and be in certain hospitality-connection industries.

Businesses applying will need to prove they meet the eligibility standards, including providing documentation to show the business has been current for at least 80 percent of payments over the past 12 months, and not past due on its most recent payment on any bill for which it is applying for relief. This can be done through proof of payments or a letter from the entity in which the money was due.

Businesses can reach out to the Division of Small Business with questions by emailing business@delaware.gov or visiting www.delbiz.com.

Categories: Coronavirus, Delaware, Local News