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Welcome to the Western Nebraska Development Network
Financing Options Resource Page
Here you will
find an outline of different financing options available all depending on your
qualifications.
Businesses have many
options in acquiring capital for start-up, expanding, or relocating in Nebraska.
In addition to the financial resources described below, community and regional
industrial development corporations organized throughout the state have funds
available to assist in financing small to medium sized projects, or to defray
partial expenses attendant to larger industrial developments.
Community Development Block Grant
(CDBG) Program
The Community Development Block
Grant program provides Nebraskans appropriate, affordable and accessible housing
and infrastructure; and quality jobs through financing new and expanding
businesses.
For more information, follow
the link below
The
Customized Job Training Program
The Customized Job Training
Program provides training assistance on projects that offer an opportunity for
economic development in
Nebraska.
Use of the funds is limited to eligible companies and eligible training
projects. In general, the types of companies qualifying are those engaged in
activities that sell goods/services primarily to a non-Nebraska market:
manufacturing, processing, warehousing, and headquarter facilities are some
examples.
To learn more about the
Customized Job Training Program, follow the links below
Other Financing Options
Department of Economic Development Programs
Nebraska Microenterprise Partnership Fund
The purpose of the Nebraska Microenterprise Development
Act is to assure that micro businesses realize the full potential to create
jobs, enhance entrepreneurial skills and activities, and increase low-income
households' capacity to become self-sufficient; and to facilitate the
development of a permanent, statewide infrastructure of micro-lending support
organizations.
Local Option Municipal Economic Development Act
The Local Option Municipal Economic Development Act (LB
840, 1991) authorizes incorporated cities and villages to collect and
appropriate local tax dollars (sales and/or property tax) if approved by the
local voters, for economic development purposes. The Act involves the
formulation of the local economic development program plan. The plan forms the
foundation for the collection and expenditure of local tax revenues for economic
development and, if the voters approve the plan, the provisions of the local
plan becomes the basis under which the municipality's program operates.
Rural Enterprise Assistance Project
The Rural Enterprise Assistance Project's (REAP) Loan
Programs focus on providing capital for rural Nebraska based start-up and
existing businesses. REAP's loan products are coupled with business technical
assistance and counseling to clients to help them prosper in their business.
Nebraska Enterprise Opportunity Network
The Nebraska Enterprise Opportunity Network (NEON) is an
association of local and statewide programs which provide support to small,
locally owned businesses.
Other
Nebraska Resources
Invest Nebraska Corporation
Invest
Nebraska helps emerging Nebraska-based businesses identify their
barriers to success through business evaluation, develop strategies to overcome
the barriers, then connect with the right network of financial, educational and
professional resources.
Tax increment financing
Tax increment financing (TIF) in
Nebraska
is primarily designed to finance the public costs associated with a private
development project. Essentially, the property tax increases resulting from a
development are targeted to repay the public investment required by a project.
Nebraska Investment Finance Authority
The Nebraska Investment Finance Authority (NIFA) provides
a broad range of financial resources for agricultural, residential,
manufacturing, medical and community development endeavors, and provides
technical assistance for activities related to these areas while preserving and
growing the asset base used to provide these resources.
Nebraska Economic Development Corporation
The Nebraska Economic Development Corporation (NEDCO), a
certified development company (CDC), is a statewide private non-profit
corporation licensed by the U.S. Small Business Administration to finance small
business by providing long term fixed rate financing for fixed asset projects.
NEDCO's mission is to further the economic development and social welfare of
Nebraska and its environs with specific emphasis on promoting and assisting the
growth and development of business concerns. The principal objective is to
foster increased employment opportunities and expansion of business.
Federal Resources
U.S. Small Business Administration – Small Business Loans
The U.S. Small Business Administration (SBA) offers
numerous loan programs to assist small businesses. SBA is primarily a guarantor
of loans made by private and other institutions.
USDA Rural Development Nebraska
USDA Rural Development Nebraska assists Nebraskans in
accessing USDA financing programs that are designed to offer: Affordable home
ownership and repair opportunities; Business opportunities to build and sustain
healthy economies; Financial and technical assistance to cooperative and
value-added efforts across Nebraska; Safe and modern rental housing facilities;
and Essential public facilities and services including Water and sewer systems,
Community facilities, Telecommunications equipment and facilities.
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