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Sussex County launches grant program for second-stage companies

July 29, 2019 11:20 AM | Philanthropy Delaware (Administrator)

Sussex County businesses ready to grow have a potential new source of capital. The county has launched a program to assist established, growing businesses located in Sussex County with $5,000 grants as well as customized data to help them grow.

The program is targeted at so-called “second-stage companies,” which typically employ 10 to 99 workers and have annual sales of $1 million to $50 million.

The program is “not a program established for companies that are in trouble or companies that need specific assistance, such as an inventory type of process,” Sussex County Economic Development Director Bill Pfaff said in a news release. “Rather, this is really for companies that are beyond the start-up phase and have the desire to grow to the next level.”

Sussex County Council has authorized spending up to $25,000 on the initiative to support as many as five grants of $5,000 each.

Click here to learn more about the program, including how to apply. The deadline for applications is August 26, 2019.

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