NNDC operates a revolving loan fund with loans available to for-profit businesses looking for capital to purchase, start up or expand an existing business. NNDC works with area banks to provide 'gap' financing.
- Must complete application
- Can fund up to 50% of total cost of project
- Must have bank participation, or bank refusal to participate
- Must be for-profit business
- Must create or retain jobs (funds limited to $20,000 or $10,000 per FTE)
- Must be located in Dawes or contiguous county
- Can be for real estate, inventory, equipment, working capital
We assist in making the financial package less of a risk and more appealing to the banks to finance. A complete copy of the loan guidelines and loan application can be found here. NNDC can assist in preparing a business plan, qualifying a business for state incentives, job training grants, City of Chadron LB840 loan funding and other potential funding sources. The State of Nebraska has incentives for businesses, based on investment, job creation and specific types of business. These are generally in the form of tax credits, and are based on set criteria. A copy of the state's Nebraska Advantage flyer can be found here.
The Nebraska Business Development Center (NBDC) is another resource that assists in preparing to approach financial institutions about start-up funding. The service is free and they can be reach at 308-432-6282. The Panhandle Area Development District (PADD) has a revolving loan fund, which is eligible for use in Dawes County. The Rural Enterprise Assistance Project's (REAP) loan program is another tool to consider. REAP's 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. Tax increment financing (TIF) in Nebraska is primarily designed to finance the public infrastructure 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. 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.