Areas Served: Dawes, Sheridan or Sioux Counties
Businesses eligible for IRP funds are for-profit businesses in Dawes, Sheridan or Sioux Counties of Nebraska that maintain and/or expand the area’s economic base or provide support to the local economy.
Assistance will be considered when the applicant is unable to finance the proposed project from its own resources or through commercial credit or other Federal, State, or local programs at reasonable rates and terms.
Eligible ultimate recipients will be considered for loan services on a first come first served basis.
ELIGIBLE LOAN PURPOSES:n¢ Real Estate; land, buildingsn¢ Machinery and equipment, furniture and fixtures, inventoryn¢ Working Capital HOW MUCH CAN BE LOANED: Amounts to be loaned can be no more than fiftypercent (50%) of the total project coSt. This cannot exceed $10,000 per full-time position (2,080 hours annually) created or retained.
Two permanent part time positions (2,080 combined hours annually) can count as one full time position.
The maximum IRP loan amount can not exceed $150,000; a minimum loan amount has not been established.
INTEREST RATE: Interest of the Intermediary Re-lending Program loans are to be negotiated by NNDC and the ultimate recipient, but shall not exceed 1% over the New York Prime Rate as published in The Wall Street Journal.
Contact InformationNebraska Northwest Development Corporation
Address: 706 West Third Street
City: Chadron
State: Nebraska
Website:
http://www.nndc-chadron.com/business-assistance/
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