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Nebraska Small Business Assistance Act

Nebraska Small Business Assistance Act

Download the Application Readiness Checklist

Benefit Overview

  • If the NSBAA screening team determines an applicant’s business plan and application are underprepared for grant or professional service benefits, applicants will have the opportunity to work with a service provider on their business plan and financial projections.  
  • Professional services can include a variety of services completed by third-party providers. Allowable services are outlined in benefit requirements.
  • Maximum benefit assistance: Receive up to $10,000 as a standalone benefit or combine professional services with a grant—$25,000 for new businesses or $12,500 for existing businesses.
  • Existing Businesses may qualify for a grant to refine their business and support the continuation of growth.
  • Maximum benefit assistance: Applicants may receive funding through a grant and/or professional services, but the total combined amount cannot exceed $12,500.
  • New Businesses may qualify for grant dollars to assist with the startup of a new business.
  • Maximum benefit assistance: Applicants may receive funding through a grant and/or professional services, but the total combined amount cannot exceed $25,000.

Benefit Application Requirements

  • The applicant’s business must be in Nebraska.
  • Applicant must currently or planning to be a Nebraska resident.
  • Applicant is 19+ years of age.
  • Applicant must be legally in the United States.
  • The business is for-profit.
  • The applicant does not have a material interest in another business.
  • The applicant has at least 50% or more ownership share in the proposed business.
  • The applicant is actively engaged in the business’ development and operation.
  • The applicant provides a business plan with financial projections.
  • Applicants must meet all basic requirements.
  • This benefit is offered to applicants with plans determined to be insufficient for other benefit consideration.
  • Applicants must meet all basic requirements.
  • The requested assistance includes qualified professional service areas.
    • Professional service areas include: accounting, budgeting, tax return preparation, human resources, payroll processing, financial planning and investments, debt management, technology coaching, and financial statement review.
  • There is a reasonable budget for such assistance.
  • Applicants must meet all basic requirements.
  • Business activation occurred within 5 years or 60 months of application.
  • The applicant’s individual current net worth is $200,000 or less, excluding their primary residence.
  • To assist with the processing of your application, please have your 2024 taxes completed.
  • For a three-year period, the average gross revenue, or sales with an average growth of 25% or less per year.
  • There is an itemized budget for grant assistance being requested.
  • Disclosure of grant requirements with affirmation by the applicant.
  • The applicant and their business are in compliance with Federal, State, and local laws, regulations, professional certifications, licenses, and/or property permit.
  • Applicants must meet all basic requirements.
  • Business activation occurred within 24 months of application.
  • The applicant’s individual taxable income for 2024 is $55,000 or less.
  • The applicant’s current net worth is $200,000 or less, excluding their primary residence.
  • To assist with the processing of your application, please have your 2024 taxes completed.
  • There is an itemized budget for grant assistance being requested.
  • Disclosure of grant requirement with affirmation by the applicant.
  • The applicant and their business are in compliance with Federal, State, and local laws, regulations, professional certifications, licenses, and/or property permits.

Any applications that are incomplete or do not meet the requirements outlined above will be denied.

If you have previously received funding, you are ineligible to apply again. If you have received Business Planning Assistance, you may apply for a grant or professional services.

Resource Providers

To apply for Program benefits, applicants must be shovel-ready, meaning:

  • They are working with a resource provider.
  • They have a business plan that clearly identifies the purpose and activities of the business, the target market, sales, and financial projections for one to three years. 

These resources can help you review and fine-tune your business game plan, including your targeted customer markets and projected revenues.

  • Your community’s economic development director.
  • Local bank.
  • A Certified Public Accountant
  • An experienced local businessperson.
  • Your regional Development District.
  • Entrepreneurship Centers
  • Start-up Incubators and Academies
  • Local Chambers of Commerce

If you currently do not have a resource provider, we recommend that you utilize SourceLink Nebraska to find a resource partner.
Other Resources include:

View the full calendar for upcoming resource provider events.

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.
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