Delaware Small Businesses Receive $675,423 in Funding for Technical Assistance Through Public-Private Partnership
The Division of Small Business (DSB) in the state has partnered with the Delaware Small Business Development Center (SBDC) to offer $675,423 in funding for technical assistance to small business owners. This funding is provided through the State Small Business Credit Initiative (SSBCI), a federal program that supports socially and economically disadvantaged business owners.
The SBDC was chosen to receive these technical assistance funds due to their expertise in reaching small business owners and providing personalized support. They will use the funding to work closely with small business owners to help them prepare for the loan application process through DSB’s loan programs. Participants will receive guidance on partner lenders or additional assistance to ensure a successful application.
The SBDC’s associate state director, Sarah Mailloux, expressed her excitement about creating access to a program that supports Delaware’s small and socially/economically disadvantaged businesses. She emphasized the commitment to helping entrepreneurs gain access to funding through one-on-one technical advising and training sessions, focusing on understanding financials, best accounting practices, and legal requirements.
Business owners who are interested can learn more by attending a webinar on April 30 at 11 a.m. The webinar will feature representatives from DSB, SBDC, and program lenders like Del-One Federal Credit Union and True Access Capital who will provide information on their lending programs. Interested individuals can register for the webinar on the State of Delaware website.
Those looking to engage with like-minded individuals can find news, events, jobs, and people who share their interests on Technical.ly’s open community Slack platform. This platform offers an opportunity to join the conversation and connect with others in the industry.
This new funding opportunity is a significant step towards helping local small and early-stage businesses secure much-needed financing. With this support from DSB and SBDC, entrepreneurs can overcome traditional barriers when it comes to obtaining loans from banks or other financial institutions.
In conclusion, this collaboration between DSB and SBDC is an excellent example of how public-private partnerships can create innovative solutions for small businesses in need of financial support. By leveraging their expertise in reaching small business owners and providing personalized support, they are making it easier for entrepreneurs across Delaware
