Please review and share this important information regarding available resources and financial assistance during the COVID-19 (Coronavirus) pandemic.
Local Initiatives Support Corporation (LISC) Rapid Relief & Recovery Fund
Programs to help businesses with immediate financial impact due to the pandemic.
The application period is now open. Click here to apply. Your application must be completed by Tuesday, April 28th, 11:59 p.m. ET.
Before completing the application, we recommend you review our Grant Information Overview and FAQ, which can be found here.
Please keep the following in mind:
- For business owners with multiple businesses, please answer this survey based on your largest business owned.
- Each awardee is limited to one grant.
- Grants will be made to qualified businesses and based on accurate and complete submission and verification of required documentation.
- This round of applications must be completed by Tuesday, April 28th, 11:59 p.m. ET.
Delaware Hospitality Emergency Loan Program
To assist hospitality-related businesses in Delaware that have been economically impacted by COVID-19, the State’s Division of Small Business has launched the Hospitality Emergency Loan Program (HELP). This program makes available no-interest loans of up to $10,000 per business per month and is open to businesses with less than $1.5 million in annual revenue and have been operating for at least 12 months. The loans carry a 10-year term with payments deferred for 9 months.
Delaware Small Business Assistance
Delaware was approved for the Federal Economic Injury Disaster Declaration (EIDL) from the U.S. Small Business Administration. These loans assist small businesses, nonprofits and more, in meeting existing operational expenses that cannot be met as the result of a disaster, in this case, COVID-19. Please note, there are restrictions and guidelines that govern what these funds can be used for.
Note: there is also a new $10,000 GRANT component recently added to this EIDL assistance.
There are additional small business support resources for immediate financial assistance including:
- the SBA Express Loan Program
- the Paycheck Protection Program under the recently approved C.A.R.E.S. Act.
Delaware Unemployment Update
The Department of Labor announced adjustments in unemployment rules for hospitality workers due to COVID-19. These adjustments will permit hospitality employees to earn part-time income while collecting benefits, provided employees can demonstrate decreased hours and earnings. The Department of Labor is working to make benefits available within one week of a claim being received.