Highlights in REAP History

1990 - Rural Enterprise Assistance Project (REAP) is started by the Center for Rural Affairs with a Peer Group Model and two staff. Gene Severens was the first REAP director.

1990 - First REAP Peer Group formed at Cedar Rapids.

1990 - REAP started with grants from the Ford and Mott foundations.

1992 - Rose Jaspersen joins REAP in 1990, and becomes second REAP director in 1992.

1992 - REAP applies to be a Small Business Association Microloan Intermediary and is one of 35 programs chosen to participate in the pilot program.

1994 - REAP receives first CDBG grant. The grant is used to start a REAP region in southeast Nebraska with the hiring of Jeff Reynolds. Each region added from this point forward was started with CDBG grants.

1995 - First Entrepreneurs of the Future Camp held at UNL.

1996 - Eugene Rahn joins REAP staff.

1998 - Kendall Scheer becomes the third REAP director.

1998 - Began pilot of REAP Direct Lending Program. The Maximum Direct Loan was $15,000.

1998 - REAP reaches $300,000 in total lending.

1999 - Direct Loan Program made a permanent part of the program, with a Maximum Loan of $25,000.

2000 - Jeff Reynolds becomes the fourth REAP director.

2001 - SBA Women's Business Center five-year funding proposal approved. REAP WBC begins. Glennis McClure is the first REAP WBC director.

2002 - REAP Individual Program officially launched. Now “Dual Delivery” system.

2002 - REAP reaches $1 million in total lending.

2003 - Developed and launched REAP website.

2004 - Launched online REAP member directory.

2004 - RBEG funding proposal approved. REAP Hispanic Business Center (HBC) pilot work begins.

2004 - REAP reaches $2 million in total lending.

2004 - Glennis McClure becomes co-director of REAP.

2005 - REAP Roundtable format introduced.

2005 - REAP Online Lending System developed.

2005 - 274th REAP Peer loan placed at Falls City. Could possibly have been the last peer loan.

2006 - REAP maximum lending limit raised to $35,000.

2006 - Monica Braun becomes second REAP WBC director.

2006 - REAP reaches $3 million in total lending.

2007 - Further expansion of HBC work with promotion of Adriana Dungan to HBC Director (first HBC director) and planned hiring of Hispanic BS in western Nebraska. REAP had nine staff with close to $1 million budget.

2008 - REAP reaches $4 million in total lending.

2008 - REAP conducts first Statewide Small Business Needs Assessment. Is completed every two years.

2009 - Eugene Rahn reaches $6 million lending/leverage plateau.

2009 - Jerry Terwilliger, Eugene Rahn and Dena Beck all receive major awards in 2009.

2009 - REAP reaches $5 million in total lending.

2010 - Juan Sandoval becomes the second REAP HBC director.

2010 - REAP Maximum lending limit raised to $50,000.

2011 - REAP reaches $7 million in total lending.

2011 - Rural Investment Corporation (RIC) structure is reinstated and in process to becoming a CDFI.

2011 - CDFI Certification and TA Application completed and submitted.

2012 - REAP reaches $8 Million in total lending.

2012 - Eugene Rahn and Dena Beck both receive major awards in 2012.

2012 - Informal structure known as the “Nebraska Small Business Collaborative” is created.

2013 - REAP reaches $9 million in total lending.

2013 - RIC is officially certified as a Community Development Financial Institution (CDFI).

2014 - REAP reaches $10 million in total lending.

2015 - REAP reaches $11 million in total lending.

2015 - Peggy Mahaney, REAP administrative assistant, retires and is replaced by Kim Preston.

2015 – REAP celebrates the 25th anniversary of the program.

2016 – REAP reaches $13 million in total lending.

2016 – RIC/REAP develops and implements the New American Loan Fund.

2016 - The first Small Business Loan over $50,000 is placed through the newly created Small Business Loan Program that provides loans up to $150,000.

2017 - Plans are in the works to further enhance the REAP model and further position the program to reach the tremendous need that exists for entrepreneurial development.

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