WEDCO provides loans to established small businesses, located in the City of Wilmington, who are growing and unable to secure financing on comparable terms from conventional financial institutions.

WEDCO can either partner with a bank to provide a portion of the total funds needed or work directly with the borrower and provide the total funds needed for the project.

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Senator Coons meets with WEDCO borrower

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Eligibility

  • Businesses within the City of Wilmington
  • Principal(s) has direct experience in the industry for at least two years
  • Good Business Plan
  • Adequate personal credit history
  • Clearly defined and accessible target market

Loan Size

  • Maximum $75,000
  • Minimum $5,000

Use of Funds

  • Working Capital
  • Inventory
  • Machinery & Equipment
  • Leasehold Improvements