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Microenterprise Development

neadvsmall.gifAlso part of the economic development package is the Microenterprise Development Fund Enhancement, which doubles the total support for technical assistance and loans for microenterprises to $500,000.

Purpose:
  • To assure that micro businesses realize the full potential to create jobs, enhance entrepreneurial skills and activities, and increase low-income households' capacity to become self-sufficient; and to facilitate the development of a permanent, statewide infrastructure of microlending support organizations.

Funding:

  • The legislature has appropriated $497,500 per year for fiscal years starting 7-1-05 and 7-1-06 to the program.
Leverage:
  • The act authorizes the Nebraska Department ofEconomic Development (DED) to contract implementation to astatewide microlending support organization provided that theorganization matches LB 327 funds. A second "tier" of matching is required by microlending delivery organizations.
  • DED currently contracts the Nebraska Microenterprise Partnership Fund to administer the program.
Awards:
  • Twelve awards totaling $447,500 were made to microenterprise organizations accross the state in September, 2005. 

Annual Report 

The Micro-Enterprise Annual Report is available as a .PDF

Download - Nebraska Advantage Brochure

 

 

For more information about the Microenterprise Development Act, please contact:
Bob Doty
(402) 471-2095 or (800) 426-6505(402) 471-2095 or (800) 426-6505
This email address is being protected from spambots. You need JavaScript enabled to view it.

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Nebraska Department of Economic Development | Courtney Dentlinger, Department Director
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Phone (800) 426-6505 | Fax (402) 471-3778