Revolving Loan Fund
The ImagiNE Nebraska Revolving Loan Fund was created to help businesses and improve the quality of life for workers and communities in Nebraska by addressing the need for workforce training and infrastructure development.
Looking for a Loan to Meet Your Training or Infrastructure Needs?
Any Taxpayer with an application under the ImagiNE Nebraska Act is eligible to apply for a loan through the ImagiNE Nebraska Revolving Loan Fund (INRLF). Taxpayers may receive up to one workforce training and one infrastructure development loan per ImagiNE agreement. Follow the links below to see if either of the available loan types can help meet your business needs.
Loan Types Available
| Maximum Loan Amount | Up to 50% of projected Credits to be earned through ImagiNE and/or 50% of any earned and unused ImagiNE Credits. See guidelines for additional information. |
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| Interest Rate | 6.00% Fixed Rate* | |
| Maturity Term | Maximum 5-year maturity once Performance Period begins or Ramp-up Period ends, whichever occurs first, under the Taxpayer’s ImagiNE Agreement. | |
| Payment Amount | Cash | One payment will be due annually in equal principal and interest installments based on the current balance amortized over the remaining term of the loan. |
| Credits | One payment will be due annually that is equal to 85% of the Credits earned in the year preceding the due date plus any earned and otherwise unused Credits from prior years. | |
| Prepayment Fees | None. Taxpayer may repay loan at any time prior to its maturity date without a prepayment fee. | |
| Fees | A 0.5% service fee will be assessed when Credits are used for repayment. This fee must be paid using cash. | |
| Eligible Loan Uses |
Any expense a Taxpayer incurs to train current or newly hired employees for jobs, existing or to be created, at the qualified location(s) under their ImagiNE agreement. Preference will be given to workforce training projects which:
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* The interest rate is statutorily fixed by Neb. Rev. Stat. §45-1021.
| Maximum Loan Amount | Up to 50% of the Credits projected to be earned through ImagiNE and/or 50% of any earned and unused ImagiNE Credits. See guidelines for additional information. |
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| Interest Rate | 6.00% Fixed Rate* | |
| Maturity Term | Maximum 7-year maturity once Performance Period begins or Ramp-up Period ends, whichever occurs first, under the Taxpayer’s ImagiNE Agreement. | |
| Payment Amount | Cash | One payment will be due annually in equal principal and interest installments based on the current balance amortized over the remaining term of the loan. |
| Credits | One payment will be due annually that is equal to 70% of the Credits earned in the year preceding the due date plus any earned and otherwise unused Credits from prior years. | |
| Prepayment Fees | None. Taxpayer may repay loan at any time prior to its maturity date without a prepayment fee. | |
| Fees | A 0.5% service fee will be assessed when Credits are used for repayment. This fee must be paid using cash. | |
| Eligible Loan Uses | Any expense a Taxpayer incurs for the provision of basic physical systems, structures, equipment, and/or facilities required for business operations at the Taxpayer’s qualified location(s) included in their ImagiNE Nebraska agreement. Preference will be given to projects that improve the quality of life for workers and the surrounding community as well as projects necessary to secure new, high-paying jobs. | |
* The interest rate is statutorily fixed by Neb. Rev. Stat. §45-1021.
How to Apply
1. Complete the following templates and gather the following documents that will need to accompany the loan application for the application to be complete and considered for approval:
- Workforce Training Loan Supplement or Infrastructure Development Supplement
- ImagiNE Nebraska Act Investment and Employment Projection
- Financial Information
- Organizational Documentation (as applicable)
- Organizational Chart and Resumes of Key Management
- Additional information may be requested, as necessary, during the loan review process.
TIP – When naming files to submit with the loan application, do not include a “.” in the file name. The only “.” should immediately precede the file extension. For example:
BalanceSheet.2021.pdf = NO
BalanceSheet2021.pdf = YES
2. Review the INRLF Application Checklist to ensure all application requirements are completed.
3. Submit the loan application and supporting documentation through an online application. The online application is administered using a third-party software, Loan Pro, and can be accessed here.
Complete details about each of the above can be found in the ImagiNE Nebraska Revolving Loan Fund Application Guide.
Overview of the Application Process
1. A Taxpayer’s loan application will be processed after an ImagiNE application has been approved and an ImagiNE agreement has been signed by all parties.
2. An eligible loan application will be reviewed by the ImagiNE Nebraska Revolving Loan Fund Committee. After review, the Committee will make a decision to either approve or deny a loan application.
3. A Notice of Approval or Notice of Denial will then be issued to Taxpayer by DED.
4. After receiving a Notice of Approval, the Taxpayer must be able to comply with all closing conditions as outlined in the Notice of Approval, if any, and be ready to close the loan within the time limits established in the guidelines.
Have questions about the ImagiNE Nebraska Revolving Loan Fund?
Ane De Anzola
Phone: 402-471-3769
ded.inrlf@nebraska.gov
Nebraska Department of Economic Development
245 Fallbrook Blvd, Suite 002
Lincoln, NE 68521
Ready to Apply?
If you’ve already reviewed all the information and are ready to go, click the button below!
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