State funding makes a difference for businesses across Nebraska (March 30, 2007)
OAKLAND, NEB. (March 30, 2007)– Micro programs in Nebraska are providing much needed services to the state’s smallest businesses. The recently published 2007 Report to the Legislature states that individuals in 99% of Nebraska’s counties received training and/or one-on-one technical assistance from programs in the year ending June 30, 2006. Loans to micro businesses ($35,000 or less) were made in 70% of Nebraska’s counties. State support continues to insure that a permanent statewide infrastructure is in place to meet the needs of micro businesses.
The above referenced report is produced by the Nebraska Department of Economic Development in cooperation with the Nebraska Microenterprise Partnership Fund (NMPF) as part of a unique public/private partnership. Electronic copy of the report may be found at http://assist.neded.org/MicroenterpriseAR07.pdf.
The 2007 Report is the ninth such report issued since 1999. Programs have loaned more than $6.8M to businesses with the average loan size in 2006 being $12,565, up from $4,702 in 1998. The average loan size in 2006 was $12,565 up from $4,702 in 1998. More than 15,000 individuals have received training and/or technical assistance since 1998. The Nebraska Legislature has provided funding to help support this work since the passage of the original Microenterprise Development Act in 1997.
The 2007 Report profiles 18 micro businesses across the state. These businesses are found in urban and rural areas; are owned by women and men; represent service, retail and manufacturing sectors; and are located in storefronts, in homes, and on farms. One universal theme can be found in these stories – services (loans, training and technical assistance) provided by micro programs have major impact on the success of the businesses.
These businesses provide jobs for owners in addition to employees, and not only contribute to the economic base of the state today, but serve as the starting point for future big businesses. Micro program services are making it possible for these businesses to move forward in their development.
FOR INFORMATION, CONTACT:
Individuals who are hearing and/or speech impaired and have a TDD, may contact the department through the Statewide Relay System by calling one of the following numbers:
711, (800) 833- 7352 (TDD), or (800) 833-0920 (voice).
The relay operator should be asked to call DED at (800) 426-6505, or (402) 471-3111.