Center for Rural Affairs’ small business development program ranked ninth in the United States for the number of Small Business Administration microloans placed in fiscal year 2016.
The program, Rural Enterprise Assistance Project, or REAP, provides lending, training, networking and technical assistance to startup and existing small businesses in Nebraska.
The Small Business Administration Office of Economic Opportunity ranks programs and announces results at the close of its fiscal year. We closed 101 small business microloans for a total of $575,105 in 2016.
Making the top 10 list is a testament to staff who believe in our mission and work extremely hard to meet the goals of the program. Not many, if any, rural only programs make this list, but we do. I am very proud of our staff and all they are doing to make a difference in rural Nebraska. This is an incredible achievement.
During the Center for Rural Affairs’ fiscal year 2016, Rural Enterprise Assistance Project staff placed 123 loans totaling $1,739,880 and provided 2,372 entrepreneurs with training and assistance. Loans up to $150,000 are provided through the lending programs.
We’re heading onward and upward as we help entrepreneurs build small businesses and create vibrant small towns and rural communities.
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