West Side Corridor Revitalization Fund

West Side Corridor Revitalization Fund

Funder: Cornerstone West CDC and True Access Capital, with City of Wilmington ARPA funding

Status: Active as part of "Building From Within" program

Geographic Scope: West Side of Wilmington, Delaware (between I-95/Jackson Street to Union Street east to west; 7th Street to Lancaster Avenue north to south)

Award Amount: Up to $20,000 in forgivable loans

Award Type: Forgivable loans (not traditional repayment loans)

Focus Areas:
For property and business owners seeking to invest in West Side community:

Commercial corridor stabilization

Economic revitalization initiatives

Minor repairs and improvements

Equipment purchases

Facade improvements

Interior & exterior renovations

Eligibility:

Small business owners with properties on the West Side

Property owners on the West Side

Developers with projects contributing to economic revitalization

Entrepreneurs opening businesses in commercial vacancies

Program Goals:

Support entrepreneurs and small business owners

Address racial disparities in access to capital

Create jobs and rehabilitate vacant spaces

Revitalize neighborhoods through locally-owned investment

Foster vibrant neighborhood Main Streets

Background:
Part of the "Building From Within: Small Business Commercial Corridor Stabilization & Innovation" program launched in 2020 to address:

Low to moderate income community of color

Lack of access to designated resources (Downtown Development District, Opportunity Zones, Business Improvement District)

Concentration of vacant properties

Historic disinvestment in West Side neighborhoods

Funding Source: City of Wilmington American Rescue Plan Act (ARPA) funds

Contact Information:

Cornerstone West CDC: hello@westsidegrows.org, (302) 888-5346

True Access Capital: dlee@trueaccesscapital.org

Address: 1512 W. 4th Street, Suite 2, Wilmington, DE 19805

Related Resources:
Applicants can also access:

Business plan writing course (Launcher)

Technical assistance

Entrepreneurship training through Wilmington Alliance

Technical expertise through True Access Capital