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Owning a business of any size can be a truly enjoyable experience, and it can lead to a level of financial freedom not found in the traditional nine-to-five world.
Nebraska small business owners have the opportunity to make a significant impact in their communities and in the lives of others, regardless of the industry in which they work or the products or services they sell. In Nebraska, both prospective and current business owners are helping shape the economic landscape each and every year.
However, even with the excitement and potential for growth among small businesses in Nebraska, the inability to fund the growth can lead to shutting the doors altogether, or the need to downsize to fewer employees, locations, or service offerings.
It is sometimes necessary to recognize the opportunities to raise capital through Nebraska small business loans, grants, and outside investor funds. This guide covers some of the options currently available.
On this page:
Small Business Loans in Nebraska
Banks, credit unions, and online lenders provide access to long-term financing through Nebraska small business loans, with varied interest rates, costs, and terms.
Small business loans in Nebraska can be a good choice for companies that can provide accurate documentation of revenue, the value of assets that may be used as collateral, and a detailed plan as to what the loan will be used for after approval. Not every small business will qualify, but the following lenders are a good place to start for those companies that meet the eligibility requirements.
As low as 6.00%
$5,000 – $2 million
1 – 5 years
The above information is for the Lendio Business Term Loan.
Lendio is the largest small business loan marketplace in the U.S. with a network of over 300+ lenders. These lenders include PayPal, Bank of America, American Express, and more.
You can apply with one simple application without impacting your credit. The application process can be completed online in 15 minutes with no fee or obligation. If approved, funds can be made available in as little as 24 hours.
- Short term loan
- Business term loan
- Business line of credit
- Merchant cash advance
- Business credit card
- Equipment financing
- Commercial mortgage
- Startup loan
- SBA loans
- Accounts receivable financing
- Business acquisition loan
9.77% – 35.98%
$5,000 – $500,000
6 – 60 months
The information above is for the LendingClub Business Term Loan.
LendingClub is a peer-to-peer lender that connects investors with businesses in need of financing in Nebraska. To be eligible, businesses must have at least $50,000 in annual sales, as well as been in business for 12 months or more.
You can apply online in under 5 minutes and receive multiple quotes. If you decide to pay off your loan early, there are no prepayment fees to worry about.
7.00% – 69.00%
$500 – $250,000
6, 12, or 18 months
The information above is for the Kabbage Business Line of Credit.
Kabbage is a small business lender offering a business line of credit. The lender has a low minimum loan amount which can make it a good option for those in need of a small amount of financing.
In order to be eligible, your business needs to be at least 12 months old, with $50,000 in annual revenue.
Small Business Grants in Nebraska
In addition to small business loans, Nebraska businesses may also qualify for grant funding. Through a Nebraska small business grant, financing is received which does not need to be repaid. However, the business must complete a specific set of work or a long-term project in order to qualify for grant funding. Here are a few small business grants in Nebraska.
Nebraska Innovation Fund Prototype Grant
Through the Nebraska Innovation Fund Prototype Grant program, small businesses operating in Nebraska may be eligible to receive matching grant funding to help with product development. This highly competitive business grant is made possible with the help of the Department of Economic Development, and up to $150,000 per project is available.
Applicants must have a business in Nebraska, and they must be able to provide a business plan and evidence of matching funds in order to qualify. Applications are accepted on a rolling basis through the Department of Economic Development.
State Trade and Expansion Program (STEP)
Through the State Trade and Expansion Program (STEP), small businesses in Nebraska may qualify for financial assistance to help with export operations. As a reimbursement grant, small Nebraska businesses can receive up to 25 percent of eligible expenses for projects or activities related to increasing exporting products.
The amount of the grant varies depending on the project included in an application, but small businesses in the past have used funds for international trade shows, sales trips overseas, product testing, translation and printing services, and online marketing in other countries. The grant extends through late September each year, and the application can be submitted online.
Small Business Investors in Nebraska
Another common way for small businesses in Nebraska to secure financing is through an outside investor. Angel investors, venture capitalists, and other investment programs offer funding to high-growth businesses in a variety of fields. While these funds are not repaid in the traditional sense like loans, they do require some loss of control by the receiving business. Here are a few investor opportunities for Nebraska small businesses.
As a network of angel investors promoting businesses in the state, Nebraska Angels has funded an average of $2 million in capital for companies since its start in 2006. The investment firm provides access to several different angel investors, giving small businesses the chance to connect with and receive funding from the right-fit firm or individual. The firm invests primarily in local start-up companies that have a significant potential for a profitable exit. Business owners are encouraged to submit a funding application online to start the review process.
Headquartered in Lincoln, Nebraska Global is a venture capitalist firm keenly focused on technology companies operating in the state. The investment firm has had success in providing investor financing to viable, long-term software businesses working toward contributing to an influential technology landscape in Nebraska. This venture capital firm stands out because they do not require small business applicants to have a pre-determined exit strategy. Instead, they have a desire to invest in software companies that want to have an impact. Small businesses who fit the bill are encouraged to reach out to Nebraska Global via e-mail or by phone.
Dundee Venture Capital
With offices in Omaha, Chicago, and Minneapolis, Dundee Venture Capital is a nationwide investment firm helping businesses in need of seed capital. The investment company focuses its attention on technology businesses located in the Midwest, with initial funding ranging from $250,000 to $750,000 in seed rounds. Dundee Venture Capital encourages companies that operate in high-growth areas of technology to submit their story and request for funding through a brief online form.
Author: Melissa Horton