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Division of Small Business

RUN-DE Loans



Rise Up Now Delaware (RUN-DE) is a revolving loan fund available that provides additional access to capital for Delaware-based small businesses with 2-99 full-time employees and a demonstrated annual revenue of at least $12,500 prior to March 13, 2020.

The Division of Small Business is no longer accepting applications at this time for the RUN-DE program. If funding becomes available in the future, we will reopen application submissions.

Get answers to the most common questions about RUN-DE.

 

Eligible businesses must meet all of the following criteria:

  • Business was cash flow positive prior to March 13, 2020 with annual revenue equal to or greater than $12,500
  • Business employed 2-99 full-time employees prior to March 13, 2020
  • Business can demonstrate future viability and commitment to retaining and/or creating full-time, permanent jobs
  • Business can clearly articulate an eligible proposed use of any approved RUN-DE Loan proceeds
  • Business certifies that they have been unsuccessful in obtaining access to capital through traditional lending sources

Businesses may apply for two times their 2019 or 2020 annual revenue up to a maximum of $50,000. The entire program has a maximum lending authority of $1,500,000.

Loan proceeds may be used to purchase equipment, retrofit existing brick and mortar business operations, acquire or construct new business operations, inventory or as working capital. However, the Loan proceeds may not be used to refinance or pay off existing debt.

No. This is strictly a loan program. Loans will be amortized over 10 years with interest earned but deferred for the first 12 months.

Applications with all required documentation will be accepted on a First In, First Out basis, but funding for the program may be exhausted before the underwriting process is complete. An announcement will be posted on this website when funding has been exhausted.”

Patty Cannon, Director of Special Projects, can assist with questions not answered above.

 

 

RUN-DE is funded with CARES ACT money provided through the U.S. Economic Development Administration.



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