True Access Capital and Cornerstone West Community Development Corporation have launched the West Side Corridor Revitalization Fund (WSCRF), a program offering grants of up to $10,000 for eligible small business owners and developers whose projects contribute to the economic revitalization of Wilmington’s West Side community. The fund is supported by the JPMorgan Chase Foundation.
“The West Side Corridor Revitalization Fund will be an immediate catalyst for economic revitalization on Wilmington’s West Side, helping lift up not just the West Side, but the entire city at the same time,” said Vandell Hampton, Jr., President and CEO of True Access Capital.
The WSCRF will provide grants of up to $10,000 per applicant to fund eligible projects. Eligible applicants include small businesses, landlords, and developers with properties or businesses located between I-95/Jackson Street to Union Street (east to west), and 7th Street to Lancaster Avenue (north to south). Funding is intended for property and business owners seeking to invest in the West Side community. As part of the application process, applicants must be able to establish a path to site control (e.g. property ownership, valid lease, or seriously engaged in a lease or purchase discussion, regarding the subject property).
“Cornerstone West CDC has worked diligently since the start of COVID-19 to address the emergency needs of small businesses on the West Side,” said Sarah Lester, president and CEO of Cornerstone West Community Development Corporation. “This new corridor program and partnership will build on those efforts and be a spark for sustainable and equitable development along Fourth Street, which is an important West Side cultural and commercial corridor.”
“This is a wonderful opportunity for west side entrepreneurs and business owners to receive an extra boost for any new investments they have been considering,” adds Mayor Mike Purzycki. “If the success of the Market Street Corridor Revitalization Fund is any indication—10 small businesses assisted, and 57 new jobs created—we look for good things to happen from this new funding opportunity. We appreciate the investment of resources, time and talent by JP Morgan Chase, True Access Capital and Cornerstone West.”
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