Fiscal Year 2011 broke all records for the REAP program. We helped massive numbers of startup and existing entrepreneurs throughout Nebraska, placed the most loans in the history of the program, and reached large numbers of women and Hispanic entrepreneurs. The need for our services is at an all- time high.

REAP staff are working hard to reach as many rural entrepreneurs as possible. We are so proud to be making a major difference through very tough times, and we look forward to doing even more given the overwhelming need for REAP services in rural Nebraska.

Results Speak to Massive Need
From July 1, 2010 to June 30, 2011 (aka the fiscal year), REAP provided assistance to 1,987 entrepreneurs. Over 70 percent of the entrepreneurs served were below low to moderate-income level, and over 62 percent were women. Of all the entrepreneurs served, 32 percent were Hispanic. REAP also placed 69 loans totaling $1,004,200 and leveraged an additional $1,204,140 from other sources due to our “loan packaging” assistance. REAP lending and assistance helped create or retain 397 jobs. Since the program began in 1990, we have placed 793 loans totaling $6,899,946 while also leveraging an additional $13,446,689 from other sources.

Access to Capital Disappears in Tight Times
Access to capital is a critical issue for small businesses. Small business lenders, including banks and nonprofits, have really pulled back their lending over the past several years. The Center for Rural Affairs has a reputation of “stepping up to the plate” in times of crisis. REAP is no exception, and we have substantially increased our lending and overall services. The results are impressive and clearly show our unwavering commitment to make a difference.

Rural entrepreneurs need programs like REAP like never before. Demand for services to assist microenterprise-size businesses (small businesses with 10 or fewer employees) far outweighs available capacity. The “tools” that small businesses need to increase their chances of success are the “core” services REAP offers – access to lending capital, training, and one-on-one counseling and business planning assistance. Even in good times, services such as these are greatly needed. In times of challenge, they become fundamental to having any chance of launching and running a successful micro-business.

Support Makes our Work Possible
Programs like REAP rely on adequate funding to provide services. Microenterprise development is a vital part of the economic development framework. To reach maximum capacity, funding must be increased. Access to microenterprise services in Nebraska and all across the United States must be made a priority and, ultimately, funding must increase to serve the growing demand for services in this sector.

REAP is fortunate to work with a group of supportive funders who understand the critical need and impact of our services. We receive funds from the Community Development Block Grant program through the Nebraska Department of Economic Development, state funding through the Department of Economic Development, Nebraska Enterprise Fund, Small Business Administration Microloan & Women’s Business Center Programs, United States Department of Agriculture, and many foundations and gracious donors.

Major Program Enhancements to Come
As we plan for the coming year and beyond, more collaboration and innovations are in the works. In addition to online improvements, REAP is looking at the possibility of obtaining Community Development Financial Institution (CDFI) status. CDFI status helps to open more doors of opportunity for Nebraska’s entrepreneurs.

REAP is striving to achieve maximum scale in rural Nebraska. We are committed to strengthening rural communities through small, self-employed business development, and look forward to making a critical difference for all startup and existing small businesses in rural Nebraska who need core small business services.

For more information or to comment, contact Jeff Reynolds, REAP Program Director, at 402.656.3091 or jeffr@cfra.org.