NEBRASKA MICROENTERPRISE PARTNERSHIP FUND
223 N. Oakland Ave. Oakland, NE 68045
Contact Person: Rose Jaspersen, Director
Ph: 402.685.5500 Fax: 402.685.5500
E-mail: rosej@nebbiz.org
| PROGRAM INFORMATION |
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Start Date: | July 1994 |
| | Mission: | Statewide financial intermediary organization that believes that support for Nebraska's local self-employment and small business sector is a viable development strategy. This strategy can help build the state's economy, revitalize communities, create jobs and assist low-income and dislocated workers.
The Nebraska Microenterprise Partnership Fund's (NMPF) primary goal is to mobilize, allocate, leverage and link strategic local, state and national resources with community-based organizations to finance and the serve the needs of Nebraska small and micro businesses.
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| | Funding Sources: | US Small Business Administration, Nebraska Dept. for Economic Development, US Community Development Financial Institution Fund, US Bank, Wells Fargo, First National Bank of Omaha, First National Nebraska
Community Development Corporation, USDA, National Fund for Enterprise Development
and the Corporation for Enterprise Development. The Partnership conducts ongoing fundraising efforts from sources which would not otherwise be available to the state's microenterprise programs.
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| | Application Process: | Request for proposals are issued whenever funding is available.
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CLIENTELE |
| | Target Population: | Community-based and non-profit programs are eligible to apply for grant and loan assistance to help in delivering assistance to Nebraska miro businesses.
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LOAN INFORMATION |
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Loan Terms: | Interest only, 5 year notes at 4%-5% to micro-lending programs with a proven track record. Renewable for additional 5 year terms pending satisfactory performance.
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| | Types of Loans: | Evergreen Loans
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| | Loan Eligibility: | Only community-based programs are eligible for operating or loan fund assistance.
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TECHNICAL SERVICES |
| | Training and Services: | The Partnership Fund also provides consulting for microenterprise programs. The programs must possess a commitment to initiate micro lending programming that serves unfilled need in a specified service or program area.
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