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The Southeast Nebraska Development District has received nearly a quarter million dollars from USDA Rural Development.
SENDD has received a total of $223,000 through the Intermediary Relending Loan Program. The funds will establish a revolving loan fund for a 15 county area in southeast Nebraska.
According to SENDD Executive Director David Taladay, the fund will allow the development district to help finance new business start-ups and expand existing businesses. Taladay says they had little loan capital left after successful lending of their existing revolving loan program.
To date, SENDD has made 22 loans to 21 businesses, with loan funds totaling more than $1.7 million. It’s estimated those loans have helped create or retain more than 275 jobs.
SENDD’s membership currently includes Richardson, Pawnee, Otoe, Nemaha, Johnson, and Gage Counties, as well as several municipalities in those counties.
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