Retail Assistance Program

The Retail Assistance Program

Retail sales are major contributors to Delaware’s overall economy. According to the most recent data from the Delaware Economic Development Office, more than 3,000 retail businesses, with less than 15 employees, contribute more than $1.5 billion to the state’s economy. A thriving retail sector is critical to overall economic growth of the State of Delaware.

What is the Retail Assistance Program?

The Retail Assistance Program (RAP) is a program of the First State Community Loan Fund (CLF) that is designed to help mitigate some of the risks associated with starting or expanding retail and food service (restaurants) businesses. With an added emphasis on business expansion, First State CLF takes a value added approach to assisting individual retail business establishments by:

  • Providing access to timely and accurate data and information specific to retail trade
  • Preparing a comprehensive Business Assessment Report that includes specific recommendations to improve or enhance the prospects for business growth and success
  • Working closely with the business owner to insure the implementation of the assessment report recommendations
  • Assisting with lease negotiations
  • Providing access to capital resources

Services

Market Analysis

  • Market Demographics
  • Consumption Patterns
  • Industry Overview
  • Location Analysis
  • Competitive analysis

Financial Analysis

  • Business and industry comparisons
  • How to improve profitability
  • How to improve key industry ratio’s
  • Situation analysis

Business Assessment

  • Lease analysis
  • Management review
  • Review and assessment of business
  • Solid recommendations to improve profitability

Outcomes

There are a number of expected outcomes from the successful implementation of the Retail Assistance Program. Some of the expected outcomes are:

  • Business expansion
  • Job creation and retention
  • Better educated business owners
  • More vibrant retail business community

For more information please fill out a “Request for Counseling Form”

Small businesses assisted through the Retail Assistance Program

Josephine’s Daughter (Rehoboth, DE)
http://www.josephinesdaughter.com/

Primo Hoagies (Wilmington, DE)
https://www.primohoagies.com/primo-hoagies-locations.php?id=89

La Fia Bakery, Bistro & Market (Wilmington, DE)
http://www.lafiawilmington.com/

La Vita Bella Day Spa & Salon (Ocean View, DE)
http://www.lavitabellaonline.com/

Black Sheep Consignment (Parkesburg, PA)
https://www.facebook.com/blacksheepconsign/info?tab=overview