Wilmington Strong Fund Releases Phase 1 Impact Report

WILMINGTON, Del. (September 23, 2020) – Barclays US Consumer Bank, West Side Grows Together, and Wilmington Alliance have distributed $98,000 to local businesses through The Wilmington Strong Small Business Fund. The fund was developed to support small businesses citywide that are recovering from the COVID-19 pandemic.

During phase one of the fund, $1,000 microgrants were awarded to 98 local small businesses. Of those awarded, 67% were minority business owners, 51% were women-owned businesses, and 83% of grant recipients have revenues less than $200,000. Awards were disbursed across diverse industries including food & beverage, retail, construction and professional services. 

Additionally, 58% of awardees stated receiving this grant allowed them to reduce their business debt, 20% avoided eviction or foreclosure and 7% were able to hire or rehire staff. The majority of grantees used funds to pay their rent or mortgage (37%), paid inventory or supplier bills (29%), or paid utility bills (24%). Most impressively, 80% of awardees reported receiving this grant increased their confidence in keeping their business open.

“Across Delaware, small businesses were hit particularly hard by this pandemic, and to make matters worse, many of these businesses did not qualify for federal aid,” said Jenn Cho, Head of Citizenship, Barclays US Consumer Bank. “The Wilmington Strong Fund extended a much-needed lifeline to businesses that are struggling to persevere. It is essential that we all come together to support these small business owners that represent the heart of our community.”

The Wilmington Strong Fund is led by a partnership between West Side Grows Together and the Wilmington Alliance, with support from 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 phase two of the fund are now being accepted. To apply for the fund or to donate, visit www.WilmingtonStrongFund.com. To view the full impact report click here.