Areas Served: City of Fairbury
LB840 Program The State of Nebraska allows local communities flexibility in establishing economic development at the local level through what is known as the LB840 program.
The City of Fairbury has implemented an LB840 fund to use as an incentive for business retention, expansion, moves to the community and startups.
The program is currently established as a grant program to enhance other funding avenues used by a business in the project.
The program is highly flexible, and leaves the funding approval process up to the local level.
CDBG Reuse Fund The City of Fairbury maintains a revolving loan fund, entitled a Reuse Fund, to help support local economic development activities.
Eligible businesses include industrial, manufacturing, food processing, agricultural processing, bagging and cleaning facilities, commercial services, telecommunication, transportation, retail and tourism.
Eligible activities include the acquisition of real estate, land, and buildings, fixed assets, machinery and equipment, renovations, remodeling, site preparation, storage and distribution systems, treatment systems, and job training costs.
Working capital may also be an eligible activity for certain retail and tourism activities.
There are specific job creation/retention requirements associated with the provision of funding through the Reuse Plan.
The funds are available on a low interest loan basis.
Terms of the loan are subject to the approval of a local Reuse fund committee.
Rural Enterprise Assistance Project (REAP) The Rural Enterprise Assistance Project (REAP), a program of the Center for Rural Affairs, is a small business development program that can help! REAP consists of four elements including: networking, business management training, credit (micro-loans) and technical assistance.
Loans are available up to $35,000.
Contact Information
City of Fairbury, Nebraska
Address: 612 D St, Fairbury, NE
City: Fairbury
State: Nebraska
Website:
https://fairbury.com/
Leave a Reply