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Nebraska Enterprise Fund Awarded $91K PRIME Grant from SBA

Release Date: 
Thursday, September 24, 2020
Release Number: 
20-02
Advisory Number: 
20-02
Contact: 
Elizabeth Yearwood

OMAHA – Nebraska Enterprise Fund (NEF), an SBA microlender and Certified Community Development Financial Institution (CDFI), has been awarded a $91,000 Program for Investment in Micro-Entrepreneurs (PRIME) grant. 

These grants are designed to help nonprofit organizations help low-income entrepreneurs to gain access to capital to establish and expand their small businesses. 

"The Nebraska Enterprise Fund is grateful to the US SBA for the 2020 PRIME grant," comments Jim Reiff, Executive Director for NEF. "Because of this support, NEF will be able to expand its outreach to underserved entrepreneurs to increase technical services that supports these entrepreneurs in growing their businesses and impacting the local economies and communities.  These small businesses are the key to vibrant and dynamic communities and economies."

Over the past five years, NEF has provided $14.9 Million to small and micro-businesses in Nebraska through 368 loans, which has impacted 1,977 jobs. The organization also offers free business assistance in the form of coaching and entrepreneur training sessions. In the past five years, NEF has had 9362 mentoring sessions and provided training to 7,515 people through their workshops and webinars.

In total, the SBA awarded $5.5 Million in PRIME grants to 30 provider organizations across the U.S.  Leon Milobar, District Director for the SBA Nebraska District Office was happy to learn that NEF received a grant. "These resources will allow for NEF to expand its services and provide added training and development resources for disadvantaged communities in Nebraska's rural and urban areas."

For more information on the SBA's PRIME grants and a list of this year's grantees, go online to https://www.sba.gov/document/support-prime-grantees

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality.  As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster.

It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.