Business Loans in Nebraska

The Cornhusker State offers a central location, tax credits, and no shortage of resources for entrepreneurs. With a small business loan, you can turn your dream of owning a Nebraska business into a reality.


Types of Business Loans in Nebraska

Not all small business loans in Nebraska are created equal. That’s why it’s important to shop around and compare all your options. Here’s an overview of several of the Nebraska business loans you might find.

SBA Loans

SBA loans are partially guaranteed by the U.S. Small Business Administration. While there are many types, the most popular programs include SBA 7(a) loans and SBA 504 loans. You may get approved for up to $5 million in funding with repayment terms of up to 25 years.

Line of Credit

A line of credit is a revolving loan in which you can withdraw funds as much or as little as you’d like, up to a set credit limit. If you’re a seasonal business or looking for a practical form of financing, a line of credit may make sense.

Term Loan

Term loans are traditional loans that offer a lump sum of money at once. You then pay the loan back through fixed monthly payments over an agreed-upon term that typically ranges from a few months to a few years or even longer.

Equipment Finance

Chances are you need equipment to run your small business. An equipment loan can provide you with funds to buy or lease new or used equipment. Since your equipment will serve as collateral, equipment loans are relatively easy to secure.

Accounts Receivable Financing

Accounts receiving financing lets you sell all or a portion of your invoices to a third-party company, which will pay you most of your invoices right away. Then, they’ll collect payments from your customers on your behalf.

Nebraska Business Loan Options

Several organizations service loans to small businesses that set up shop in the Cornhusker State.

Centris Federal Credit Union in Omaha is a solid Nebraska-based funding option for small businesses. It offers a variety of loan options, such as equipment loans, commercial real estate loans, business lines of credit, and SBA loans.

The Northeast Nebraska Economic Development District also provides small business loans in select Nebraska counties to create job opportunities and promote entrepreneurship throughout the state.

There’s also Invest Nebraska, which is known for microloans and venture capital. 

How to apply for a small business loan

STEP
1
Fill out the 15-minute online application.

It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.

STEP
2
Receive matches.

See which credit cards you qualify for before choosing the one that best suits your business needs and offers the cash rewards you’re looking for.

STEP
3
Get funded.

Once you choose a card, you can get approved in as little as 7-10 days.

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FAQ about Small Business Loans in Nebraska

There are many resources intended to support small business owners in Nebraska. The Nebraska Small Business Development Center (Nebraska SBDC), for example, offers free confidential advising and technical assistance, as well as affordable workshops. GROW Nebraska is a nonprofit that hosts a number of training sessions related to marketing small businesses. The Combine is a business incubator in Lincoln with 24/7 access to a lounge, executive conference room, office supplies, high-speed internet, and mentorship opportunities.

  

In addition to loans, Nebraska offers a number of small business grants. Fiserv, Inc., a leading global provider of payments and financial services technology solutions, has launched the Fiserv Back2Business program. It has partnered with the Association for Enterprise Opportunity (AEO) to award approximately $1 million in grants to minority-owned small businesses in Nebraska. Each individual business can receive up to $10,000 in funding.

 

If you’d like to qualify for a business loan in Nebraska, you’ll need to choose a corporate structure—for example, a sole proprietorship, limited liability corporation, or S-corporation. Then, you’ll be required to apply for an Employer Identification Number required to register with the Nebraska Secretary of State. You might also have to apply for licenses and permits, depending on your business. Once this documentation is in order, you can apply for business financing in Nebraska. As part of this process, you will likely be required to show your business plan, credit score, and monthly revenues, and these will help determine how much you qualify for and your interest rate.

The ideal loan depends on your unique situation and factors like your credit, how fast you need the funds, and what you intend to do with the money. With an online platform like Lendio, you can simplify your search and hone in on the right option. For instance, if you’re a seasonal business, a line of credit may be worthwhile. Or if you have good credit and sufficient revenue, you might be better off with an SBA loan or term loan.

A business loan in Nebraska can help you cover a variety of business-related expenses. These might include startup costs, marketing, payroll, equipment, and anything else you need to run and grow your venture.

Compare loan options from multiple funders.

Applying is free and won’t impact your credit.
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