Lincoln, Nebraska, Jun 27, 2012 -- USDA Rural Development State Director Maxine Moul today announced the selection of four projects to support small business and job creation opportunities and train entrepreneurs in rural Nebraska. The following organizations will receive funds from the Rural Business Enterprise Grant (RBEG) program.
Box Butte Development Corporation of Alliance, Nebraska - $50,000 RBEG to establish a revolving loan fund to assist small and emerging businesses in Box Butte County. One of Box Butte Development Corporation’s target areas will be the City of Alliance historical area, which includes many small businesses that have the potential to be on the State Historical Preservation Building list. The revolving loan fund may be used to maintain the integrity of the historical value of these buildings while at the same time providing energy efficiency upgrades. Loan funds may be used to assist an existing business, establish a new business or purchase an existing business, including real estate and equipment, renovations, working capital or to provide training.
Main Street Beatrice in Beatrice, Nebraska - $50,000 RBEG including $12,000 from the applicant will be used to develop a $62,000 revolving loan fund to provide financial incentives for small and emerging private business enterprises within the defined Main Street Beatrice District. More specific eligible loan uses include providing working capital, inventory, equipment, machinery, or other fixed assets; business construction, expansion, relocation, leasehold improvements and business building facade improvements. The revolving loan fund will be used to the maximum extent possible to create and/or retain jobs and broaden the district's tax base. It is estimated that 10 new jobs will be created within the first year that the program is in place.
McCook Economic Development Corporation in McCook, Nebraska - $33,000 RBEG combined with $14,330 from the applicant and other sources will be used to provide technical assistance to grow a marketing effort to brand products made and produced using locally grown ag products by a consortium of businesses located in Southwest Nebraska. The agribusinesses are in the counties of Chase, Red Willow and Hitchcock. Each member of the consortium will have its special contribution and retain its individuality, but the power of collaboration will be leveraged to bring product-related companies together to co-market to larger markets and increase demand and revenues. Increased demand and revenues of high-end food products will ultimately create new jobs and impact a local food desert.
Northeast Nebraska Economic Development District of Norfolk, Nebraska - $62,000 RBEG with an applicant contribution of $63,300 will be used to provide transition and succession planning services to businesses in a 24-county area of Northeast and North Central Nebraska. Transition and succession planning seminars will be conducted in at least one location in each of the 24 counties. As a result, 20 businesses will be identified and provided one-on-one business transition or succession technical assistance. Of the 20 businesses, eight will complete the transition/succession planning process and receive a business valuation and transition/succession plan by the Nebraska Business Development Center. Thirty-two jobs are projected to be retained by the eight businesses.
For additional information contact Bill Sheppard in Norfolk at 402-371-5350 ext. 1004 or firstname.lastname@example.org; Kelley Messenger in Kearney at 308-237-3118 ext. 1120 or Kelley.email@example.com; or Marla Marx in Scottsbluff at 308-632-2195 ext. 1132 or firstname.lastname@example.org.