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Microenterprise Development

Also 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

Download Nebraska Advantage Brochure

For more information about the Microenterprise Development Act, please contact:
Rose Jaspersen
(402) 685-5500
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Nebraska Department of Economic Development
301 Centennial Mall South
P.O. Box 94666
Lincoln, NE 68509-4666
(800) 426-6505 | Fax (402) 471-3778
Richard Baier, Director