Wilmington announces Minority Business Development Program

A new program is aimed at helping minority-owned businesses in Wilmington.

The city Tuesday announced the Minority Business Development Program, a 5-point strategy including creation of business-development zones, low-interest loans, gap financing, capacity-building and wealth development.

The program's goal is to improve neighborhoods by giving new or existing businesses the tools they need to thrive.

The program will be funded initially by 300 thousand dollars from the city's Economic Development Strategic Fund, and future funding will come from capital bond sales.

Interested business owners can find out more by calling the city's Office of Economic Development.

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