WILMINGTON, Del. (November 24, 2020) – West Side Grows Together and Wilmington Alliance today announced that Comenity Bank, a private label and co-branded credit card banking subsidiary of Alliance Data’s Card Services business, has donated $100,000 to the Wilmington Strong Small Business Fund, matching the initial investment made by other supporters of the fund.

“This generous donation from Comenity Bank gives West Side Grows Together and Wilmington Alliance the opportunity to continue to support small businesses citywide that are recovering from the impact of the COVID-19 pandemic,” said Sara Lester,CEO of Cornerston West. “The grants we will provide as a result of this donation will help local businesses keep their doors open by providing support for important expenses.”

To date, the Wilmington Strong Small Business Fund has distributed a total of $117,000 in $1000 micro-grants to local businesses in a variety of industries. During phase one of the funding project, $1,000 micro-grants were awarded to 98 local small businesses. Of the grants awarded, 67% went to minority owned-businesses, 51% to women-owned businesses and 83% to businesses with revenues less than $200,000.

Businesses who have already received a grant stated that it helped reduce their business debt (58%), avoid eviction or foreclosure (20%) and hire or rehire staff (7%). Many grantees used funds to pay their rent or mortgage (37%), pay inventory or supplier bills (29%) or pay utility bills (24%). Most impressively, 80% of awardees reported that receiving the grant increased their confidence in keeping their business open.

The Wilmington Strong Small Business Fund is led by a partnership between West Side Grows Together and the Wilmington Alliance, with support from Comenity Bank, Barclays US Consumer Bank, the Mayor’s Office of Economic Development, True Access Capital, Cinnaire, the Delaware Division of Small Business, Central Baptist CDC, Latin American Community Center, WIN Factory, Wilmington Community Advisory Council and Collaborate Northeast.

Applications for the Wilmington Strong Small Business Fund grants are currently accepted on a rolling basis.  The next round of applications is due on Monday November 30, 2020.  To apply for the fund or to donate, visit www.WilmingtonStrongFund.com.

Wilmington Strong Fund Media Contact | Gabrielle Lantieri | glantieri@westsidegrows.org
Alliance Data Media Contact | Rachel Stultz | rachel.stultz@alliancedata.com
 

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About Comenity Bank
Comenity Bank is one of the private-label and co-branded credit card banking subsidiaries of Alliance Data’s card services business. Comenity Bank was formed as World Financial Network National Bank in 1989 to provide private label credit card services to the various retail establishments owned by Limited Brands and its subsidiaries, and their customers. Comenity Bank underwrites credit programs on behalf of many of America’s best-known brands. For more information about Comenity, visit Comenity.net.