Nebraska, with its robust business environment and supportive entrepreneurial ecosystem, offers various opportunities for small business owners to secure funding. Whether you’re launching a startup, expanding your operations, or looking to modernize your equipment, there are several state-specific and national resources tailored to Nebraska’s business landscape. Here are 20 ways to secure small business loans in Nebraska:
Government Programs and Non-Profit Loans
1. Nebraska Department of Economic Development (DED)
Nebraska DED offers different financing programs, which are the Nebraska Advantage Act and the Customized Job Training Fund. These financing programs are aimed at job creation and investment in the local economies.
2. Small Business Administration (SBA) Loans
The SBA Nebraska District Office offers loans, including 7(a), 504, and microloans. These offer low-interest rates, flexible repayment options, and funding for working capital, equipment, or real estate.
3. Nebraska Advantage Microenterprise Tax Credit
This tax credit program gives refundable credits to small businesses that expand or create new ventures, especially microbusinesses in rural areas.
4. Nebraska Community Development Block Grant (CDBG) Program
The CDBG program gives grants and funds to businesses operating within low-income areas to increase employment and infrastructural growth.
5. Nebraska Enterprise Fund (NEF)
NEF provides loans and technical assistance to entrepreneurs who would otherwise not be eligible for regular financing. They support startup and small businesses statewide
6. Rural Enterprise Assistance Project (REAP)
REAP aims at targeting rural businesses with loans, technical assistance, and training offered to minority- and women-owned enterprises in Nebraska.
7. Nebraska USDA Rural Development Loans
USDA Rural Development funds with programs like the Rural Energy for America Program (REAP) and Business and Industry Loan Guarantees to develop rural economies
8. Lincoln Partnership for Economic Development
LPED delivers grants, loans, and incentives to the businesses in Lincoln to support them in expansion with job opportunities
9. Greater Omaha Economic Development Partnership
The Omaha Chamber collaborates with businesses on funding, mentoring, and business development and supports local economic growth by working towards the growth in the Omaha metro area.
10. Nebraska Manufacturing Extension Partnership (MEP)
NE MEP collaborates with smaller manufacturers to develop efficiency and competitive advantage through the provision of access to capital, grants, and consulting services
Find the right loan product for your business.
Local Bank and Credit Union Loans
11. Union Bank & Trust
MGCCUnion Bank & Trust provides SBA-backed loans, term loans, and lines of credit for Nebraska entrepreneurs. Its team helps businesses understand the financing options that meet their goals.
12. First National Bank of Omaha
FNBO provides a comprehensive assortment of business loan products ranging from working capital loans and SBA loans to equipment financing. They are Nebraska’s leading bank for small businesses.
13. Pinnacle Bank
Pinnacle Bank concentrates specifically on small business lending as well as farm loans for Nebraska’s agriculture-driven farm and ranch community.
14. American National Bank
American National Bank offers term loans and lines of credit in flexible repayment terms for small business loans to suit the entrepreneurs of Nebraska.
15. Nebraska Credit Unions
Liberty First Credit Union offers low-cost loans, and personal service that would meet the needs of any small business with flexible options.
Alternative and Specialized Funding
16. Crowdfunding Platforms
Platforms such as Kickstarter and Indiegogo offer alternative direct ways of raising funds by supporters for Nebraska entrepreneurs especially when the projects are unique or innovative.
17. Angel Investors and Venture Capital
Invest Nebraska connects startups to venture capital funding and seasoned investor mentorship, ensuring the fostering of innovation and growth.
18. Renewable Energy Loans
The Nebraska Department of Environment and Energy provides low-interest loans on energy-efficient projects to businesses as they help reduce costs and maintain sustainability.
19. Nebraska Innovation Fund (NIF)
The NIF offers grants and loans to technology-driven business ventures and startups, stimulating innovation and job creation within the state.
20. Local Economic Development Loans
Communities such as Grand Island and Kearney offer small business loans and grants through local economic development councils. Please contact your city’s office of economic development for current information.
Final Thoughts
Obtaining Nebraska small business loans is very doable with the proper amount of preparation and access to the needed resources. From state-backed ventures like the Nebraska Enterprise Fund to local programs like the Greater Omaha Economic Development Partnership, there are plenty of funding opportunities designed for the specific business climate in Nebraska. Resources such as SBA Nebraska District Office, NEF, and REAP offer indispensable support.
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