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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.
Nebraska Small Business Assistance Act
Grant Qualifications
To be eligible to receive a grant through the Nebraska Small Business Assistance Act an applicant must meet these requirements per the Nebraska Legislature.
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.
Contact Us
Whether you’re just starting out or are currently operating your business, 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. The NSBAA Program Review Committee will not be taking applications until the Fall of 2023.
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