DED to Accept Microenterprise Lending Program Cycle 2 Applications

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DED to Accept Microenterprise Lending Program Cycle 2 Applications

The Microenterprise Lending Program Application Cycle 2 will open November 1, 2018. Applications must be submitted to the Nebraska Department of Economic Development no later than 5:00 p.m. on December 3, 2018.

The Microenterprise Lending Program Application Cycle 2 will open November 1, 2018. Applications must be submitted to the Nebraska Department of Economic Development no later than 5:00 p.m. on December 3, 2018. All applications will be reviewed by Department staff, with final approval given by the Department Director. Up to $500,000 in Micro-lending funds will be awarded in the second cycle.

Eligible applicants awarded in Application Cycle 1 are eligible to apply in Cycle 2 if all Micro-lending funds from Application Cycle 1 were loaned to microenterprises prior to the application due date. Eligible applicants include Nebraska-based nonprofit organizations located within the state of Nebraska. Such applicants must demonstrate that the organization and at least one key staff member has at least five (5) years of experience as a lender, preferably lending to micro-enterprises in Nebraska. Eligible applicants must qualify as micro-loan delivery organizations that have Internal Revenue Service (IRS) designation as a 501(c)(3), or submit verification from an attorney that the applicant operates as a 501(c)(4) or 501(c)(6) organization. The application can be found at https://neded.fluidreview.com/