Finance Your Business

Determine How Much Funding You Will Need

It costs money to start and run a business, and it can affect how you structure the entire business. Let us help!

  • Self-Funding - Using your own financial resources to support your business
    • Using your savings accounts
    • Asking family and friends for capital
    • With this route, you will retain complete control over the business.
    • You also take on all the risk yourself. Be careful not to spend more than you can afford - check with your plan’s administrator and a personal financial adviser first.
  • Crowdfunding - Raises funds for a business from a large number of people, called crowdfunders
    • Not technically investors - don’t receive a share of ownership in the business/don’t expect a financial return on their money,
    • Do expect to get a “gift” from your company as thanks for their contribution. (Product you plan to sell, meeting the business owner, or getting their name in the credits)
    • A popular, low risk, option for people who want to produce creative works (like a documentary), or a physical product (like a high-tech cooler).
    • Every crowdfunding platform is different - make sure to read the fine print and understand your full financial and legal obligations.
  • Get Capital from Investors - Venture capital investments can be given by investors, usually in exchange for an ownership share and active role in the company.
    • Focuses high-growth companies
    • Invests capital in return for equity, rather than debt (it’s not a loan)
    • Takes higher risks in exchange for potential higher returns
    • Has a longer investment horizon than traditional financing
    • Almost all venture capitalists most likely will want a seat on the board of directors - be prepared to give up some portion of both control and ownership of your company in exchange for funding.
  • Apply for a Small Business Loan - Retain complete control of your business, but don’t have enough funds to start, consider a small business loan.
    • Have a Business Plan
    • Expense Sheet
    • Financial Projections for 5 Years
    • Once you have your materials ready, contact banks and credit unions to request a loan - compare offers to get the best possible terms for your loan.

You will most likely use a combination of any and all the above mentioned ways to help fund your business! 

LB8-40 (Local Business Loan Program) Funds Available in these Communities: 

Lisa Schroedl
City Clerk

(402) 387-2494

Cheryl Carson
Economic Development Director
(308) 848-2211

Chey Young
Economic Development Director
(402) 925-5313

Kristine Beard
City Clerk
(402) 684-3966

Amy Hughes
City Clerk
(308) 346-4509

Sharon Swails
City Clerk
(402) 626-7718

Loup City
Jami Mroczek
City Clerk
(308) 745-0222

Sarah Sidak
City Clerk
(402) 336-3604

Sandy Kruml
City Clerk
(308) 728-5791

Gwenda Horky
City Clerk
(308) 527-4200

Mark Stracke
Village Clerk
(402) 924-3647

Deanna Schmit
City Clerk
(402) 376-2323