555 Bay Road
Dover, Delaware 19901, USA
Toll Free: (302) 678-3028
Financing - Kent County, Delaware
SBA Section 504 Program
|Kent County Banks||No. of Branch Offices
|Artisan's Savings Bank||Dover, Milford|
|TD Bank||Dover (2)|
|Felton Bank||Felton, Milford, Camden|
|JC Penney National Bank||Harrington, Canterbury|
|First National Bank-Wyoming||Wyoming, Dover, Harrington, Felton, Smyrna, Milford, Canterbury|
|PNC Bank||Smyrna, Dover (3), Milford (2)|
Dover (2), Camden, Milford (2), Harrington, Frederica, Smyrna
The 504 Program offers long-term fixed assets financing at fixed rates for projects in the $120,000 to $2,500,000 range. The 504 Program involves a private sector lender and the Delaware Development Authority. A typical project would involve 50% funding from a private lender, 40% from the Delaware Development Corporation and 10% from the business.
Small Business Administration Assistance
Financing is available for business start-ups and expansions assets. The SBA may require 15-20% equity from starting companies. The SBA generally guarantees 90% of the loan from a local lender with a maximum of $750.000. Guaranteed loans are used by firms whose loan needs exceed the usual banking criteria. The terms usually exceed those available from a bank. For information on SBA loans, call (302) 573-6381 or (302) 739-4271
SBA Resource Center/SCORE Assistance
The Central Delaware Chamber of Commerce is an officially designated SBA Resource Center. Call (302) 734-7513.
SCORE offers free advice and counseling by retired executives to existing businesses. For assistance call (302) 573-6381.
Delaware Small Business Development Center
Through one on one counseling the SBDC can assist entrepreneurs in starting a business or help an existing business solve problems. Contact Jim Crisfield at (302) 678-1555. The SBDC is located at 146 S. Governors Ave. Dover, DE 19901.