Business Loans

SENDD currently has two loan programs available to provide funding to new and existing small businesses in SENDD’s 15 county service/membership area.  The purpose of these programs is to increase economic activity, community development and employment opportunities in rural communities.  Both of these loan funds were obtained from USDA-Rural Development.  More details on these two loan programs are as follows:

SENDD Intermediary Relending Program – Revolving Loan Fund (IRP-RLF):

  1. Maximum loan amount is $150,000
  2. Loan terms of up to 15 years
  3. Interest rate is fixed at 50% of the participating lender rate, with a floor of 4% and a ceiling of 6%
  4. Eligible uses of funds are business acquisitions, purchase and development of land, equipment, machinery, inventory, working capital and feasibility studies
  5. Eligible entities include most owner-user for profit businesses, as well as many public and private organizations
  6. Ineligible businesses include production agriculture, charitable and education institutions, churches and affiliates, fraternal organizations, hotels and motels, tourist homes, convention, recreation or amusement centers, and casinos/other gambling establishments

SENDD Rural Business Enterprise Grant – Revolving Loan Fund (RBEG-RLF):

  1. Maximum loan amount is $35,000
  2. Loan terms of up to 10 years
  3. Interest rate is fixed at 50% of the participating lender rate, with a floor of 4% and a ceiling of 6%
  4. Eligible uses of funds are business acquisitions, purchase and development of land, equipment, machinery, inventory, working capital and feasibility studies
  5. Eligible entities include most owner-user for profit businesses, as well as many public and private organizations
  6. Ineligible businesses include production agriculture, charitable and education institutions, churches and affiliates, fraternal organizations, hotels and motels, tourist homes, convention, recreation or amusement centers, and casinos/other gambling establishments

For more information on these programs, please contact Craig Eberle, SENDD Business Loan Officer at the SENDD Western Field Office on Monday’s, Wednesday’s and Friday’s (402-736-4417) or at the SENDD-Lincoln office on Tuesday’s and Thursday’s (402-475-2560) or via e-mail at ceberle@sendd.org.

 

The Southeast Nebraska Development District (SENDD) is an equal opportunity provider and employer.