An expanded loan program will mean more opportunity for small businesses along Market Street in downtown Wilmington and on the city’s West Side.

First State Community Loan Fund is expanding its program that offers forgivable loans to small business owners who open restaurants, retail shops and service businesses along the 10-block Market Street Corridor to include businesses on the city’s West Side.

The goal of the program is to encourage entrepreneurs to open the types of businesses that will encourage more people to move to Wilmington.

Funding for expanding the Corridor Revitalization Fund will come from a $440,000 grant from JPMorgan Chase. It brings the bank’s total commitment to more than $1 million.

“Chase continues to invest in Wilmington because we believe this city is a great place to live and work,” Tom Horne, Delaware Market Leader for Chase, said in a news release. “A thriving downtown business community generates jobs, commerce and a better quality of life for everyone.”

Stitch House Brewery, Bardea Food & Drink and Greenhill Pharmacy are among the businesses that have benefitted from the program, which started in 2016. With this new round of funding, First State Community Loan Fund plans to reach out to minority and women business owners along Market Street and on the West Side.

For more information, visit First State Community Loan Fund at firststateloan.org

To see how the Delaware Division of Small Business can help you start or expand a business, contact us.