Financing - Kent County, Delaware

SBA Section 504 Program

Kent County Banks No. of Branch Offices
and Locations

WSFS Bank

 

Wells Fargo

Dover (2) Smyrna (1)

 

Dover (2)

TD Bank Dover (2)
Felton Bank Felton, Milford, Camden
DE-One CU Dover, Smyrna
Shore United Bank Wyoming, Dover, Harrington, Felton, Smyrna, Milford, Canterbury
Dover Federal CU Dover (2) Smyrna (1)
PNC Bank Smyrna, Dover (2), Milford (2)
M & T Bank

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.


 

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