The past several years have been tough, and small business survival is a major concern. Discretionary spending often determines if a small business will make a profit. In a recession, discretionary income takes a sharp downturn. Other economic factors exert pressure as well. Markets continue to be squeezed from increasing competition, diminishing loyalty in local purchasing, and, in some cases, shrinking markets. The bottom line – small businesses are struggling to keep their heads above water. Owning and operating a small business is hard in the best of times. It’s doubly tough during the worst of times.

REAP loan programming had an exceptional year from July 1, 2008, to June 30, 2009. We placed 52 loans totaling $572,300 during this time frame. Of this total, one loan of $950 was placed through the Quick Grow Express Loan, 22 loans totaling $83,650 were placed with the REAP Rapid Loan, and 29 loans totaling $487,700 were placed through the REAP Direct Loan.

The REAP Women’s Business Center (WBC) turned eight in October 2008. That date also marked the 3rd year of our sustainability funding. Through ¾ of the year, REAP business specialists have provided 1,672 hours of business counseling to 380 clients. Seventy-three training opportunities were offered, reaching 1,084 people – 60 percent women. Approximately 62 start-up businesses have received assistance.

Phase four of the REAP Hispanic Business Center (HBC) officially started July 1, 2008. The Hispanic Business Center’s goal is to create new economic opportunity, higher incomes, asset growth, and improved skills for rural Hispanic entrepreneurs. Services are available to Hispanic entrepreneurs across all of rural Nebraska, wherever they may reside.

REAP strives to be on the cutting edge of microenterprise. We take pride in the new initiatives offered this year and in those planned for the future. In the last year, we completely redesigned our online services. The REAP website features an updated look with easier navigation.

In the last year, REAP groups have formed in several communities. An Hispanic Roundtable was created in Lexington, and several I2E Clubs have taken shape in Southwest/Central Nebraska in collaboration with the PK Partnership. Clubs are based in Minden, Holdrege, McCook and Hastings. We are also a continuing partner in Nebraska City’s I2E Club. I2E is an acronym for Investors, Inventors and Entrepreneurs.

Small Business Happenings – Marvin and Candy Blecha purchased the hardware store in Humboldt, NE, in fall of 2006. Prior to their purchase, store hours were sporadic and supplies and inventory were limited. Marvin, a machinery mechanic, saw a way to keep Humboldt’s downtown square alive with business and to help his hometown economy grow. Marvin is a native of Humboldt, and his wife Candy, a special education teacher at HTRS Schools, is a native of Adams, NE. They understand the importance of supporting their community and growing the business economy in Southeast Nebraska.

Staff Receive Major Awards – Jerry Terwilliger and Eugene Rahn both received awards in 2009 recognizing their outstanding work as Business Specialists with the Center for Rural Affairs’ Rural Enterprise Assistance Project. Jerry Terwilliger earned the 2009 SBA Nebraska Financial Services Champion of the Year award for his outstanding work in the Nebraska Panhandle. Eugene Rahn was recognized with the Nebraska Enterprise Fund Outstanding Service Award for reaching six million dollars in micro lending.