Nebraska Small Business Assistance Act

About

Have you ever dreamed of starting a business? Maybe you’ve started and are looking to take things to the next level. Starting a business can be really hard—and it’s even harder if you don’t have access to the right resources or know-how.

Grant Qualifications

To be eligible to receive a grant through the Nebraska Small Business Assistance Act an applicant must meet the requirements below per the Nebraska Legislature. The program will be open until March 2025 OR until grant dollars run out.

If you are currently receiving funding from the State of Nebraska, particularly from the Nebraska Department of Economic Development you may not qualify for funding.

Keep in mind, meeting these requirements does not guarantee a grant will be awarded, but should be used as a basic guideline to determine if an applicant is eligible to receive a grant.

New Business Grant

You may qualify for a new business grant if you meet the following:

Be 19 years of age.
Be a for-profit business with a full time equivalent of five or fewer employees.
Have an Adjusted Gross Income (AGI) for the previous tax year of $55,000 or less.
Have a Current Net Worth (CNW), excluding your primary residence of $200,000 or less.

Existing Business Grant

You may qualify for an existing business grant if you meet the following:

Be 19 years of age.
Business is not five years old (as of March 2023)
For the most recent calendar year the business’s gross revenue has grown by no more than 25% in recent calendar year.
Have a Current Net Worth (CNW), excluding your primary residence of $200,000 or less,

Types of Assistance

Professional Development Services

Funding can be received to access professional services like business planning, website development, setting up financials, and a wide range of other professional services. These professional services can be provided by the Program’s Strategic Partners or can provide funding to access other for-profit and nonprofit professional services.

Grant Assistance

Grant assistance if available for qualified startups and existing small businesses. Though monetary assistance, eligible businesses may be eligible for:

New small business startups – up to a $25,000 grant.
For an existing business – up to $12,500 grant.

Combination of Professional Development Services and Grant Assistance

If qualified, applicants may earn a combination of aid through professional development services and grant assistance.

Resources

The Nebraska Department of Economic Development has wonderful resources and can help walk you through how to set up your business!

Contact Us

Whether you’re just starting out or are currently operating your business, GROW Nebraska is ready to help. We’re here to listen and learn about your needs, so that we can provide resources tailored to your specific situation.