Rahn Receives Nebraska Enterprise Fund Outstanding Service Award
Contact: Jeff Reynolds, jeffr@cfra.org or 402.656.3091 or Eugene Rahn, gener@cfra.org or 402.925.2920
LYONS -- The 2009 Celebrate Microenterprise event was held on April 3, 2009, at the Nebraska Club in Lincoln, Nebraska. A highlight of the morning program was the presentation of the Nebraska Enterprise Fund Outstanding Service Award to Eugene Rahn, Center for Rural Affairs' Rural Enterprise Assistance Project (REAP) Senior Business Specialist serving north central Nebraska.
Gene was recognized for his achievemnt in surpassing the six million dollar mark in lending to micro businesses in Nebraska. Kristin Simonson, economic developer for Keya Paha, Brown and Rock Counties, described in a letter that Gene acts as a great ambassador for small businesses in the state of Nebraska and that he’s worth his weight in gold for all that he does to assist small and micro businesses in the region.
Rahn joined the REAP program in November 1996 and covers the north central area of Nebraska. Since that time, he has been responsible for placing 142 loans totaling over $1.5 M while also leveraging 86 loans totaling over $4.6 M due to his assistance for a total of over $6 M in loans and leverage. Rahn has also been responsible for countless hours of business counseling and facilitation of many small business trainings in his region. He has worked with close to 600 startup and existing entrepreneurs and helped train close to 2,000 entrepreneurs.
One example of a small business recently assisted by Gene is Sandhill Glass & Garage Doors in Ord, Nebraska, owned by Bradley and Gina Babb (picture of Babbs and Gene http://www.cfra.org/files/pictures/generahn.jpg). "In 1998, we were asked by our step-father if we would consider moving to Nebraska, work for his glass and garage door business, and learn to take it over when he decided to retire," stated the Babb. "We decided to take the opportunity, and began working in the spring of 1998." In 2007, the Babbs' step-father died unexpectedly, without any plan in place for a business transition. The Babbs decided to purchase the business assets and re-open it as their own.
"Without the help of Eugene Rahn and the support of REAP, we would not have been able to keep the family business alive and complete our long term goals. Eugene was extremely supportive and enjoyable to work with. Eugene was referred to us by our local Chamber of Commerce. They called him a "wizard" that helped small businesses in rural Nebraska. He is beyond a doubt a Wizard."
REAP is Nebraska's largest microenterprise program and operates on a statewide, rural basis through regionally based Business Specialists. REAP provides lending, training, networking, and technical assistance/counseling opportunities for startup and existing small microenterprises (businesses with 5 or fewer employees). REAP operates Nebraska's only Women's Business Center (WBC) and also operates the REAP Hispanic Business Center (HBC).
"The milestone that Eugene Rahn has reached is an excellent example of the commitment of REAP staff in assisting startup and existing small businesses in rural Nebraska. This commitment coupled with dedicated funding sources and partners is a recipe for total success," said Jeff Reynolds, REAP Program Director. "This milestone says a lot about the need for and success of our program."
Over 85% of the businesses in Nebraska are microenterprises (5 or fewer in size). That is why the Center for Rural Affairs believes it is so vital to provide access to lending and technical assistance.
REAP collaborates with many other individuals and organizations and also participates with the Nebraska Enterprise Fund (NEF). NEF is a leading provider of financial resources for community-based organizations that offer financial and technical assistance to Nebraska's small and micro businesses. A complete listing of microenterprise service providers in Nebraska can be found at http://www.nebbiz.org/gsearch.php.
