Delaware My Market Place #STA26102-DCCI

Delaware seeks financial institutions to administer Commercial Corridor Initiative grant and financing program

Delaware's Division of Small Business is seeking qualified financial institutions or partnerships to administer the Delaware Commercial Corridor Initiative (DCCI), a statewide investment program focused on revitalizing commercial corridors. - Program Overview: - $4.5 million in state Strategic Fund resources allocated for capital improvements to small, brick-and-mortar businesses - Funding distribution: $2.5 million for New Castle County, $1 million for Kent County, $1 million for Sussex County - Scope of Work: - Program design, application intake, evaluation, fund disbursement, business engagement, outreach, and compliance - Administrators must have experience in small business lending, financing, and outreach to underserved communities - Key Requirements: - At least 85% of funds must be deployed within the awarded county - DCCI funds should represent 10-25% of total project costs, with a maximum of $25,000 per business - Pricing must remain fixed for at least 12 months from the proposal deadline - No specific OEMs or vendors are named; this is a professional services solicitation for program administration - Contract term is one year with two optional one-year extensions

Description

The State of Delaware Division of Small Business is seeking proposals from qualified financial institutions or partnerships to administer the Delaware Commercial Corridor Initiative (DCCI). This statewide investment program aims to revitalize commercial corridors by pairing targeted grant funding with private capital to drive community-level transformation. The initiative will deploy $4.5 million in state Strategic Fund resources to support existing brick-and-mortar small businesses with capital improvements enhancing business operations and corridor aesthetics. The program is designed to improve the physical appearance and vitality of commercial corridors, expand access to capital for underserved and first-time borrowers, leverage private financing to maximize public investment, and drive measurable economic impact across New Castle, Kent, and Sussex counties.

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