Business Financing & Incentives

A county-wide revolving loan fund established for Fillmore County by the Fillmore County Development Corporation (FCDC). The FCDC Business Development Loan Fund is to be used for gap financing with flexible repayment terms based on project need. This could include an interest only period, some deferred payments and some principal plus interest. The financing offered by the Business Development Revolving Loan Fund (BDLF) is to help start-up businesses and existing business that may not be able to obtain conventional financing and to encourage new businesses to locate in Fillmore County;

The City of Geneva collects a 1.5% sales tax, of which 33.33% is used for economic development. The funds may provide loans or loan guarantees or grants to eligible businesses located or locating in Geneva.

Tax Increment Financing (TIF) is the use of newly created property tax dollars on improvements and can only be used in areas that have been designated as blighted and substandard. Following such a designation, a community redevelopment agency prepares a redevelopment plan. TIF projects may be commercial, residential, industrial, or mixed use. The purpose of TIF is to improve rundown properties, encourage new construction, and bring new jobs to the area. Every community in Fillmore County has the ability to use Tax Increment Financing (TIF) to assist a new or expanding business.

This revolving loan fund can be used for projects that will significantly benefit rural areas by creating and retaining employment opportunities or provide necessary community facilities and services. Projects that can be considered will include medical or other emergency facilities; training and educational facilities; community infrastructure; small business start-up projects, small business expansion projects business incubators, and commercial or industrial development. Applications will be accepted for projects located within Fillmore and York counties in Nebraska. The minimum RLF loan will be $5,000 and the maximum up to $240,000. The term of the loan will not exceed 10 years. The interest rate on the loan will be determined upon an evaluation of the project.

Fillmore County – A revolving loan fund is available through Generations Bank in Exeter to provide direct or deferred loan for business start ups, business expansion, or job training. Loans can be for a maximum of $5,000 and may finance 50% of the project. Terms will mirror bank loan terms with the interest rate being one-half of bank rate.

SENDD has financial resources in two revolving loan funds (IRP-RLF and RBEG-RLF) which are utilized to make direct loans to new and expanding small business concerns within member political subdivisions. Most owner-user for profit businesses will qualify for a SENDD IRP-RLF or RBEG-RLF loan. Eligible entities may also include many types of public and private organizations.

REAP is a rural microenterprise lending organization created by the Center for Rural Affairs. Through REAP you can create a business plan, research potential markets and marketing ideas, discuss management issues with experienced business specialists, and apply for a small business loan. Started in 1990, REAP has provided business development services to over 10,000 micro businesses. REAP has placed over $5 million in loans and leveraged over $11 million in additional funds from other sources due to our assistance.

The Nebraska Enterprise Fund (NEF) is a Certified Community Development Financial Institution (CDFI) that provides loan capital to businesses and programs across Nebraska. In addition to offering direct loans to businesses from $5,000 to $150,000, NEF collaborates with other lending programs or financial institutions when gap financing is needed. NEF offers a unique gap financing product called a CD (certificate of deposit) Guarantee to assist banks and credit unions in lending to small businesses based on the credit and security needs of the total loan package.

Nebraska Advantage was designed to create a business climate that makes Nebraska the preferred location for starting and growing your business. In this progressive, pro-business tax climate, corporate income and sales taxes are reduced or virtually eliminated. For details on Nebraska Advantage, contact the Nebraska Dept. of Economic Development at 800-426-6505

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The Microenterprise Tax Credit provides a 20 percent refundable tax credit to micro businesses on increased compensation for employees or increased investment in targeted communities. Applicants may qualify for a maximum $10,000 throughout the life of the program. The credit is limited to companies with five or fewer employees at the time the application is filed. The credit is limited to companies with five or fewer employees at the time the application is filed, including start-ups. Credits are approved on a first-in-first-out depreciable personal property.
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