A Continued Partnership to Promote Business in Delaware
News from the office of Delaware Governor Ruth Ann Minner:
Governor Ruth Ann Minner and Citizens Bank of Delaware President and CEO Richelle Vible announced today the state and Citizens Bank have formally signed an extension of their partnership that is expected to provide millions of dollars in grants and low-interest loans to Delaware companies.
Citizens Bank will continue to partner with the state through Governor Minner’s Competitiveness Fund and the Technology Based Seed Fund with a matching low interest loan program, known as the Citizens Business Bank, through fiscal year 2006. Citizens Bank will increase its maximum loan under the Competitiveness Fund, which supports Delaware manufacturing companies, from $1 million to $1.25 million. Citizens will also allocate a total of $1.5 million to assist in the development of technology based small businesses, matching the $1.5 million from the state under the Technology Seed Fund.
Businesses interested in learning more about the Citizens Business Bank, the Competitiveness Fund, the Technology Based Seed Fund or the Strategic Fund should contact the Delaware Economic Development Office at (302) 739-4271.