Areas Served: New Castle county, in the cities of Wilmington, Newark, New Castle, Middletown, Odessa, and Townsend
The Micro Loan Training Program is a business training program for persons interested in developing small businesses.
It provides core instruction to the elements needed to produce a business plan and also covers finances, advertising, market research, cash flow projections and business management.
As part of the program, emphasis is placed on developing leadership skills, improving communications, time management, organizational skills and building self-esteem.
The goal of the program is to be the conduit for access to capital and entrepreneurial training for self empowerment.
Its strategic goal is to help reduce the number of failed businesses and increase the number of successful small businesses in the City of Wilmington.
The training program is under the umbrella of the Micro Enterprise Program, which is located within the Mayor’s Office of Economic Development.
The Micro Loan Program is an innovative program that provides technical assistance, entrepreneurial training and provides access to lending barriers for individuals interested in starting or expanding a business in the City of Wilmington.
Participants are scheduled to attend a designated training period, which concludes with the completion of a business plan.
The Program is sponsored and funded by the City of Wilmington.
Instructional training is in partnership with various business resources, DCRAC, Delaware Technical & community College, Small Business Development Center (SBDC), First State Community Loan Fund, SBA, and the Service Corps of Retired Executives (SCORE) as well as business persons from the greater Wilmington area.
Weekly topics include, but are not limited to, marketing, sales, cash projections, customer service, cash management, computer applications, and forecasting.
In general, Micro Loan Program borrowers must:
¢have a for-profit business startup.
¢be newly established or growing concern business.
¢have their business located in the City of Wilmington.
¢use proceeds for working capital or acquisition of materials, supplies, furniture, fixtures or equipment.
¢benefit low/moderate income persons.
¢meet income eligibility for low/moderate income individuals as established by the federal government.
Micro Enterprise Program An entrepreneurship training and education program focusing on four key areas of business development: management, ownership, franchising and business incubation.
Limited retail spaces in the Business Incubation Program exiSt.
Contact InformationCity of Wilmington Delaware
Address: 800 North French St
City: Wilmington
State: Delaware
Website:
http://www.ci.wilmington.de.us/government/microloan
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