2020 CARES Act – Financial Supports for Small Business

Whether a business is impacted by weather-related disasters, road construction or sudden economic downturns, having a plan to mitigate the impacts can be crucial to the immediate and long-term survival of the business. Unforeseen circumstances, such as the COVID-19 pandemic, may require owners to re-evaluate their business models, cut operating costs and seek outside financial supports – all to keep cash flowing and the business open. To help small businesses during the pandemic, the Coronavirus Aid Relief, and Economic Security (CARES) Act was signed into law on March 27. It contains 349 billion in relief for American small businesses and workers. Purpose and eligibility vary with each program so contact your local funder, Nebraska Business Development Center or the Small Business Administration (SBA) for the latest information on the CARES Act and application assistance. Paycheck Protection Program (PPP) provides loan forgiveness for retaining employees or independent contractors during the COVID-19 crisis. Economic Injury Disaster Loan (EIDL) & Emergency Economic Injury Grant provides an emergency advance up to 10,000 to small businesses and non-profits harmed by COVID-19. SBA Express Bridge Loan allows a business owner who has a current relationship with an SBA lender to secure a quick turnaround loan of up to $25,000. Small Business Debt Relief provides a financial reprieve to small businesses with non-disaster SBA loans during the COVID-19 pandemic. Small Business Tax Provision provides tax relief for employers subject to closure or economic hardship due to government order limiting commerce, travel or group meetings or experiencing a greater than 50 percent reduction in quarterly receipts, measured on a year-over- year basis

Nebraska Strong - Social Capital in Action

We have heard it and we have witnessed it in action. Nebraska Strong has been a unifying message that is bringing Nebraskans, friends and family together from across the nation. Signifying strength, determination, and a resolve to rebuild, Nebraska Strong has bolstered communities and individuals who have, in some cases, lost all semblance of what they had prior to the disastrous March blizzard and floods. Through this simple message, individuals have begun to utilize their social group networks or social capital to support recovery efforts. Through the study of communities that have experienced major disasters, researchers found the existence of strong community social capital helps to foster early and more successful disaster recovery. To fully understand the import of social capital in disaster recovery, we must first define social capital and the application of the three different types of social capital in communities

Community-based Entrepreneurship: A Community Development Strategy

For the past twelve years, the NebraskaEDGE Program has assisted nascent and active entrepreneurs through the delivery of a community-based educational program. Administered by the Center for Applied Rural Innovation at the University of Nebraska-Lincoln, the program’s overall goals are to build community capacity, develop new entrepreneurial support coalitions and increase entrepreneurial activity within the community and region

Grocery Store Transitions to Multi-Own ership - Opportunities and Challenges

Independent grocery stores, stores whose owners operate fewer than four outlets, play a vital role in Nebraska communities. These stores help ensure food access for residents, particularly in rural areas. The recent decline in Nebraska’s total number of rural grocery stores is attributed to the closure of these independent stores, which are often owned by individuals or small groups. Finding qualified, motivated owners to purchase and operate independent grocery stores presents pressing challenges for many rural communities. Despite challenges, research shows that rural Nebraska communities perceive their independent grocery store to be an important community amenity. This suggests rural communities may possess, or be willing to develop, retail grocery business models that involve community ownership when the business rationale for the store continues to exist. Rural communities may want to consider multi-ownership options (i.e., cooperatives, LLCs, interlocal agreements) as alternatives to the more traditional proprietorships. In Fall 2020, University of Nebraska-Lincoln researchers surveyed Nebraska rural grocers to seek their input on perceptions and experiences of transitioning a rural grocery store to new ownership, be it privately owned, multi-ownership or community, cooperatively owned. Questions pertained to challenges and opportunities owners experienced while operating a rural grocery business, community support and involvement with store transition, and motivations for continued operation or transition. In-person and electronic interviews were also conducted with cooperatively owned store owners and private store owners. They provided a more in-depth analysis of experiences with business transition and new ownership models

Community Engagement: Nine Principles

Although community development has its roots in nearly a century of practice and research, it is only since the mid-90’s that community development researchers realized that to address larger and more complex societal issues, community members need to be more involved in the development process. One such awareness for greater involvement stemmed from Putnam’s wake-up call in “Bowling Alone: America’s Declining Social Capital” (1995) where Putnam cited American’s declining civic engagement and social net-works. What has since evolved is the theory and practice of Community Engagement

Rural Development Hubs, a Possibility for Nebraska?

The Aspen Institute, Community Strategies Group conducted an analysis of 43 Rural Development Hubs from across the country to discover their strategies, organizational structures, regional roles, and practices. Their aim was to learn how rural regions can help investors, policymakers and other local and regional decision-makers better serve their regions. The following provides an overview of their findings detailed in the report: Rural Development Hubs: Strengthening America’s Rural Innovation Infrastructure. The report provides an opportunity for further discussion on the potential role of Rural Development Hubs in Nebraska. Rural Development Hubs are defined as a “place-rooted organization working hand-in -glove with people and organizations across a region to build inclusive wealth, increase local capacity and create opportunities to improve livelihoods, health and well-being.” Their roles include helping to identify and connect regional assets to market demands. They focus on the broader, regional systems that either contribute to or hinder regional prosperity. Effective Hubs utilize local assets to create and sustain enterprises that retain greater wealth within these regions. This wealth is reinvested in the region to sustain the health and well-being of communities and people. Hubs work within the context of local people building their capacity to make and influence strategies, actions, and investments to improve their regions

Community-based Entrepreneurship: A Community Development Strategy

For the past twelve years, the NebraskaEDGE Program has assisted nascent and active entrepreneurs through the delivery of a community-based educational program. Administered by the Center for Applied Rural Innovation at the University of Nebraska-Lincoln, the program’s overall goals are to build community capacity, develop new entrepreneurial support coalitions and increase entrepreneurial activity within the community and region

2020 CARES Act – Financial Supports for Small Business

Whether a business is impacted by weather-related disasters, road construction or sudden economic downturns, having a plan to mitigate the impacts can be crucial to the immediate and long-term survival of the business. Unforeseen circumstances, such as the COVID-19 pandemic, may require owners to re-evaluate their business models, cut operating costs and seek outside financial supports – all to keep cash flowing and the business open. To help small businesses during the pandemic, the Coronavirus Aid Relief, and Economic Security (CARES) Act was signed into law on March 27. It contains 349 billion in relief for American small businesses and workers. Purpose and eligibility vary with each program so contact your local funder, Nebraska Business Development Center or the Small Business Administration (SBA) for the latest information on the CARES Act and application assistance. Paycheck Protection Program (PPP) provides loan forgiveness for retaining employees or independent contractors during the COVID-19 crisis. Economic Injury Disaster Loan (EIDL) & Emergency Economic Injury Grant provides an emergency advance up to 10,000 to small businesses and non-profits harmed by COVID-19. SBA Express Bridge Loan allows a business owner who has a current relationship with an SBA lender to secure a quick turnaround loan of up to $25,000. Small Business Debt Relief provides a financial reprieve to small businesses with non-disaster SBA loans during the COVID-19 pandemic. Small Business Tax Provision provides tax relief for employers subject to closure or economic hardship due to government order limiting commerce, travel or group meetings or experiencing a greater than 50 percent reduction in quarterly receipts, measured on a year-over- year basis

Community Engagement: Nine Principles

Although community development has its roots in nearly a century of practice and research, it is only since the mid-90’s that community development researchers realized that to address larger and more complex societal issues, community members need to be more involved in the development process. One such awareness for greater involvement stemmed from Putnam’s wake-up call in “Bowling Alone: America’s Declining Social Capital” (1995) where Putnam cited American’s declining civic engagement and social net-works. What has since evolved is the theory and practice of Community Engagement