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Progress Loan Fund

Nebraska Progress Loan Fund
NEW Funding for Start-up and Nearly Bankable Small Businesses.

The Nebraska Progress Loan Fund (NPLF) makes loans to qualifying small businesses, generally representing existing and start-up businesses experiencing financing challenges. The minimum loan to any business is $50,000, with a maximum of $2 million. The NPLF also can apply for interim loans to qualifying small businesses for a term not to exceed three years. An interim loan maximum amount is $5 million with longer terms negotiated on a case-by-case basis. Funding must be matched 1 to 1 by private sources.

Eligible small businesses include: research and development, scientific testing, data processing, telecommunications, manufacturing, distribution, storage/warehousing, transportation, administrative headquarters, targeted export services, companies realizing 75% or more of sales outside Nebraska, or those businesses supplying the U.S. Government with cloud computing, software development, computer systems design, product testing services, guidance or surveillance systems, technology licensing services, data center and internet web portals.

Please note that we now offer five year maturities on loans of $50,000 to $2,000,000. The interest rate is 0% to 4% with average loans ranging from 2% to 4%. These are changes that became effective January 1, 2015.

Advantages:

  • low interest rates ranging from 0% to 4%
  • payment deferrals
  • able to support loans that lack sufficient collateral to quality the loan(s) from a private lender

Contact: Stew Jobes, Nebraska Progress Loan Fund Coordinator
                Nebraska Department of Economic Development
                P.O. Box 94666
                301 Centennial Mall South
                Lincoln, NE 68509-4666
                Telephone: (402) 471-3114, TOLL FREE (800) 426-6505
                Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Nebraska Progress Loan Fund (NPLF) Documentation

 


Nebraska Angel Sidecar Fund
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The Nebraska Angel Sidecar Fund encourages greater private investment in Nebraska-based start-up companies thereby increasing the overall investment impact. Invest Nebraska Corporation will award seed capital funds that match private angel fund investments. Seed capital may be used for advanced intellectual property development and evaluation, advanced proof of concept work for scientific discovery, advanced prototype design and development, key personnel hires, and related activities.

Eligible businesses are Nebraska-based start-up companies that have (1) a committed leadership team with significant experience related to the technology being commercialized and launching a start-up technology business, or committed collaborators and/or mentors with such experience; (2) a viable plan for securing venture capital financing to successfully grow the start-up company within a reasonable time period after the seed capital co-investment; and (3) a market-based, third-party investment commitment equal to at least 100 percent of the total requested seed capital funding from the NPSF.

A guideline of $50,000 minimum and $500,000 maximum, or 50% of total project cost will be used, although a single co-investment may vary from these guidelines if substantiated by review criteria. Seed capital co-investments will be in the form of equity or convertible debt, specifics to be determined by Invest Nebraska Corporation.

Contact: Dan Hoffman, CFO/COO
                Invest Nebraska Corporation
                4701 Innovation Drive
                Lincoln, NE 68521
                Telephone: (402) 742-7860
                Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Invest Nebraska Angel Sidecar Fund Guidelines

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Nebraska Department of Economic Development | Courtney Dentlinger, Department Director
301 Centennial Mall South | P.O. Box 94666 | Lincoln, NE 68509-4666
Phone (800) 426-6505 | Fax (402) 471-3778