Under New Program, Participating ImagiNE Businesses are Eligible for Workforce, Infrastructure Loans

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Under New Program, Participating ImagiNE Businesses are Eligible for Workforce, Infrastructure Loans

ImagiNE Nebraska Revolving Loan Funding now available to businesses that have an application under the ImagiNE Nebraska Act.
Starting today, businesses that have an application under the ImagiNE Nebraska Act can also apply for loans to support their workforce training or infrastructure development needs.

Administered by the Nebraska Department of Economic Development (DED), the ImagiNE Nebraska Revolving Loan Fund program (INRLF) offers two loan categories — Workforce Training and Infrastructure Development — that can be leveraged by ImagiNE participants to support their success and growth.

The new revolving loan fund is designed to work in tandem with ImagiNE Nebraska benefits, with loan recipients authorized to make principal and interest payments using credits earned under the ImagiNE program.

The goal of the INRLF, according to DED program leaders, is to aid in the training of Nebraska employees, increase the availability of new infrastructure throughout the state and assist businesses in increasing their access to capital.

Per program guidelines, businesses may receive up to one Workforce Training and one Infrastructure Development loan per ImagiNE Nebraska agreement. The maximum amount a business may borrow is the lesser of 1) 50% of the business’s projected ImagiNE credits and/or 50% of any earned or unused ImagiNE credits, or 2) $2 million per business.

DED has published detailed information and resources to assist potential applicants. Visit https://imagine.nebraska.gov/revolving-loan-fund/ to learn more, view specific terms, or to begin the application process. For questions, contact DED’s Laura Linden at laura.linden@nebraska.gov or 402-471-1466.

 
 

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