The Job Creation Loan Program provides financial assistance to qualifying businesses for industrial and commercial expansion that creates permanent, private sector employment opportunities for new and expanding businesses. The program is intended to be used in conjunction with loans from private lenders. However, other financing arrangements may be considered.

Eligibility

• New or existing for-profit corporation, partnership or proprietorship
• Located within the City of Lincoln
• Must create new jobs or retain existing jobs as a direct result of the project
• Must demonstrate need for City financial assistance
• Must sell a majority of goods and/or services outside Lancaster County
• May be used for land, buildings, construction, equipment and working capital

Terms & Conditions

• Maximum loan amount is $250,000 or 50% of total project costs, whichever is less
• Loan cannot exceed $20,000 per job created or retained
• At least 51% of jobs created/retained must be filled by low- to moderate-income individuals
• Flexible interest rates and amortization periods based on the life of the assets to be funded
• Collateral is lien on the uses of proceeds and personal guarantee
• Facilities or employment cannot be relocated outside Lincoln during the term of the loan

Application Process

• Review and structure project with Urban Development Staff
• Submission of loan application, financial and narrative project information
• City prepares, reviews and approves proposal

Required Information

• Job Creation Loan Program Application Form (available from Urban Development Department)
• Current and historical financial statements
• Projected financial statements