New funding opportunity supports growth for Delaware businesses

KENT COUNTY, Del. – The Kent Economic Partnership is offering business owners a new resource to expand and grow with some new funding.

The Kent County Growth Fund, a partnership between Discover Bank and the Grow America Fund, allows businesses to access capital with lower interest rates.

Those eligible should be operating at least 2 years and have 10 to 500 employees.

Funds can be used for things like buying equipment or renovations.

We’re told this move is fulfilling a need in the county with many businesses still on the road to recovery from the pandemic.  “This will be a great way to get below market interest rates, allowing business that save thousands of dollars in their payments. This will allow them to be able to funnel that money back through their company and hopefully have strong workforce and grow their business even more after that,” Kent Economic Partnership Business Developer Zach Prebula said.

Loan values range anywhere from $250,000 to $1 million and are federally guaranteed.

To find out more information, you can contact Zach Prebula at (302)-505-0797.