To access the webinar, click on the provided link:   https://canhelp.webex.com/canhelp/lsr.php?AT=pb&SP=MC&rID=58206977&rKey=3fe5e5feb3f41ade

Related posts:

1. Visual Merchandizing
2. Economic Gardening
3. Did you know?…NE resources

• 7(a) loans are the most basic and most used type loan of SBA’s business loan programs and are only available on a guaranty basis. The loans are provided by lenders who choose to structure their own loans by SBA’s requirements and who apply and receive a guaranty from SBA on a portion of this loan. The SBA does not fully guaranty 7(a) loans.

Besides credit and eligibility criteria, there are general terms and conditions SBA requires of a business seeking financial assistance.  This information is available on the SBA Basic 7(a) Loan Program page.

• The SBA Microloan Program provides very small loans to start-up, newly established, or growing small business concerns.  SBA makes funds available to nonprofit community based lenders (intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000.  Applications are submitted to the local intermediary and all credit decisions are made on the local level.  Interest rates will vary, depending upon the intermediary lender and costs to the intermediary from the U.S. Treasury. Generally these rates will be between 8 eight percent and thirteen percent.

A contact list of eligible Microloan lenders is available on the SBA Microloan page.

• SBA America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship due to uncertain economic conditions. Each small business is limited to one ARC loan. ARC loans will be offered by some SBA lenders as long as funding is available or until September 30, 2010, whichever comes first. The temporary ARC program offers interest-free loans to viable small businesses, which carry a 100 percent guaranty from the SBA to the lender and require no fees paid to SBA. Loan proceeds are provided over a six-month period and repayment of the ARC loan principal is deferred for 12 months after the last disbursement of the proceeds. Repayment can extend up to five years.

For ARC loan details contact the Nebraska Small Business Association or SBA ARC loan website.

• The CDC/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community. CDCs work with the SBA and private-sector lenders to provide financing to small businesses.  The maximum SBA debenture is $1,500,000 when meeting the job creation criteria or a community development goal. Generally, a business must create or retain one job for every $50,000 provided by the SBA except for “Small Manufacturers” which have a $100,000 job creation or retention goal (see below).The maximum SBA debenture is $2.0 million when meeting a public policy goal.

Current SBA 504 lender in Nebraska is the Nebraska Economic Development Corporation (NEDCO)

Related posts:

1. CDR becomes a Certified Development Corporation
2. USDA Rural Development Grants and Loans
3. SBA Basic Loan Information

Bassett/Rock County Chamber of Commerce – Loans available for start-ups and existing businesses; must reside in Rock County.  For fixed assets, working capital.  Max: $100,000; Min: $2,000

Rural Enterprise Assistance Project – Loans available for any for-profit entity and not-for-profit childcare center. Mainly for acquisition of fixed assets, machinery & equipment, and working capital.  Max:  $25,000; Min:  $1,000

Central Nebraska Community Services – Applicants must reside in CNCS service area and provide evidence of jobs created/saved.  Max:  $15,000; Min:  $500

Community Action Partnership of Mid-Nebraska – Business start-up or expansion which will provide employment. Require applicant to investigate conventional financing. Prefer to have cooperative loans with conventional lender.  Max:  $7,500; Min. $100

Ho-Chunk Community Development Corporation – New and existing business and community development projects. Max: $150,000; Min:  $500

Nebraska Economic Development Corporation – Two loan pools that cover fixed assets and long term equipment.  Cannot exceed 75% of total project costs.  Max: $150,000; Min: $75,000

Nebraska Northwest Development Corporation – Applicants must create or retain 1 job per $10,000 loaned.  Loans for fixed assets, working capital and not more than 50% of the total project costs.

Northeast Nebraska Economic Development District/Northeast Economic Development, Inc.  – Loans for working capital and fixed assets.  Max: $100,000; Min:  $1,000

Panhandle Area Development District – Loans available for equipment, inventory, vehicles, machinery, real estate, small working capital loans.  Max:  $150,000 or 75% of project cost, whichever is less.

Siouxland Economic Development Corporation – Loans for working capital or fixed assets.  25% of project or $100,000 (whichever is less).

South Central Economic Development District - For businesses recovering from 2008 disasters, (storms, tornadoes & flooding) may be retail, wholesale or service business.  Not more the 40% of the total project costs; Max: $50,000; Min:  $5,000.

Southeast Nebraska Development District – Two loan pools.  For businesses in area with less than 25,000 population.  Max:  $35,000 (not more than 75% of project) Min:  $500;  For businesses that create 1 job per $35,000 loaned.  Max:  $150,00 (not more than 75% of project); Min: $20,000

Southwest Nebraska Community Betterment Corporation – Business must be a start-up or an existing business looking to expand.  Max:  $20,000; Min: $2,000

West Central Nebraska Development District – For business start-ups and expansions (to create/save jobs).  Max:  $150,000 or 75% of the total cost of the project (the lesser of).

Related posts:

1. USDA Rural Development Awards Funding For Business Development
2. SBA Loans
3. SBA Nebraska Loan Dollars Up For First Quarter of Fiscal Year 2010