The Nebraska Department of Economic Development (DED), in partnership with the GROW Nebraska Foundation, unveiled the Nebraska Small Business Assistance Act (NSBAA) program, designed to provide crucial support to individuals initiating or expanding small businesses within the past five years.
Under the program, eligible small businesses---defined as those with no more than five full-time equivalent employees, excluding the business owner---can benefit from funding for professional services and grant opportunities.
Qualified applicants may access professional services that include strategic planning, accounting, website development and more, to lay a solid foundation for their business operations. Additionally, the program offers two types of grants: up to $25,000 for new businesses and up to $12,500 for existing businesses, covering a range of business needs from startup costs to equipment purchases.
This program was authorized by Legislative Bill 450 in 2022. The DED has allocated $4.2 million for the NSBAA program for the fiscal year 2023-2024, with the possibility of continued funding based on the program's success and available resources.
The GROW Nebraska Foundation, tasked with administering the program, collaborates with various partners to ensure the NSBAA's reach extends statewide, offering equitable opportunities for small business development across Nebraska.
Interested individuals are encouraged to review the eligibility requirements and submit a pre-application through the GROW Nebraska’s NSBAA website. With a rolling application process, the program aims to support as many eligible businesses as possible until the allocated funds are fully used.
