The Greater Omaha Chamber's small business members have can take advantage of the American Recovery and Reinvestment Act. Funds are disbursed in a variety of programs and incentives through the U.S. Small Business Administration and made available through local community banks and credit unions.
Two key provisions of the Recovery Act are especially beneficial to area small businesses whose loan terms typically range from five to 25 years. The first is a temporary elimination of certain loan fees that banks charge borrowers. The second raises the guarantee levels on longer-term loans to 90 percent of the loan value, up from 75 percent.
Another key impact of the Act is the ability to refinance existing loans, although there has not been a lot of demand for this among borrowers to date.
For additional information, contact the U.S. Small Business Administration, Nebraska District Office at 402- 221-4691 or your local bank or lender.
Additional Funding Approved for Recovery Act (January 2010)
Remarks by the President on Job Creation and Economic Growth (Dec. 8, 2009)
Overview of the American Recovery and Reinvestment Act of 2009
View the American Recovery and Reinvestment Act FAQs
View a news release from Congressman Lee Terry's website
Economic stimulus information
SBA stimulus information
Federal stimulus funding information from the State of Nebraska