Downtown Milford Inc. Revolving Loan Fund

If you are an entrepreneur and interested in opening up a business in our downtown area or would like to expand your existing business, DMI would like to lend a helping hand.

DMI received a grant from the United States Department of Agriculture to help businesses in the downtown project area get established or enhance current operations.

Program outline:

  • Current  total amount available: $19,000

  • Loan size: flexible, but generally in $3,000 to $5,000 range

  • Interest rate: substantially below market rate.

  • Tenor: up to 5 years

  • Repayment: monthly. No prepayment penalty. If business ceases/moves, outstanding balance must be immediately repaid fully unless otherwise agreed to.

  • Eligibility: business in downtown Milford project area

  • Process:

    • Completed loan application (available at DMI office) is reviewed by revolving loan committee which includes professional bankers.

    • Financial information provided is kept confidential.

    • Decision timeframe: generally, 3 – 6 weeks depending on complexity.

Sign, Awning, & Façade Enhancement Matching Grant Program

 

This matching grant program is made possible by WSFS Bank

 

If you are a merchant, business, or property owner in Milford’s downtown commercial district, we want to help you save money on your sign and awning purchases as well as façade enhancements.

DMI has matching grants up to $500 for sign, awning, or façade improvements to the street facing façade of your building.

 

Our DMI matching grant requirements and guidelines are designed to offer visual unity and enhance the look of our downtown.

 

Click here to view the eligibility standards and here for the application.

 

If you are interested in either program please contact DMI Executive Director at 302-839-1180 or director@downtownmilford.org.