What's New!

2008 Economic Stimulus Act Depreciation Provisions
The Economic Stimulus Act of 2008 increased the maximum amount for depreciation under section 179 of the federal tax code from $128,000 to $250,000 for 2008. It also raised the section 179 phase-out limit, formerly $510,000 for this year, to $800,000. Section 179 depreciation provides a way for businesses to recover quickly some of the costs of certain property purchases, such as equipment.

The law also reinstates 50 percent special depreciation, also known as bonus depreciation, for much of the country. The Economic Stimulus Payments Information Center on the IRS’s Web site at http://www.irs.gov/newsroom/article/0,,id=177937,00.html  is the best source of Economic Stimulus information from the IRS.

Women and Company® Microenterprise Boost Program Awards
Using $11,000 in funds provided by the Women and Company® Microenterprise Boost Program, the Center for Rural Affairs—Rural Enterprise Assistance Project (REAP) Women’s Business Center, awarded six women microentrepreneurs across rural Nebraska.

The following women business owners were selected to receive the equity awards for 2008:

• Debra Simmons, S&S Sweeper Store, Beatrice
• Maria Alvarado, Alvarado’s Tax Services, Columbus
• Dianne Marie, Midwest Quilting and Embroidery, Ord
• Kerri Chamberlin, Longhorn Restaurant, Kimball
• Glenna Zwiebel, Z Total Image, Morrill
• Past Award Winner Becky Wyatt, Becky’s Health Hut, Sidney

For more information on the 2008 boost awards, Click to continue.

New Hispanic Business Specialist

REAP is pleased to announce that Nancy Flock has been hired as our new Southwest/ Central 2 and Hispanic REAP Business Specialist. Nancy holds an AS in Business Administration from Mid Plains Community College. She most recently worked as Loan Operations/Cash Management/Cash Services Representative at First National Bank at North Platte, NE. Nancy was also involved with her family owned Mexican Crafts business.

In addition to the Hispanic work in rural Nebraska, Nancy will be providing REAP services in the following Southwest/ Central Nebraska counties:  Chase, Dundy, Keith, Lincoln, Logan, McPherson, Perkins. We are very excited about the hiring of Nancy and also very excited about the future of our Hispanic work in rural Nebraska. 

REAP Rural Hispanic Business Center Expansion

The REAP Rural Hispanic Business Center in Nebraska received a boost with the addition of Adriana Dungan as the new Hispanic Business Center Director. Adriana assumed director responsibilities in early 2008, and still retains her role as the Northeast REAP Business Specialist. Based in South Sioux City, Adriana speaks Spanish fluently. The Hispanic Business Center is reaching out to new communities across Nebraska. Contact Adriana Dungan for more information, 402.494.1013 or adungan@msn.com       Bienvenido a REAP!

REAP Selects 6 Cash Equity Award Winners
Using $10,000 in funds provided by the Women and Company® Microenterprise Boost Program, six women microentrepreneurs across rural Nebraska will receive financial support for their enterprises. Award winners were recognized in conjunction with a GROW Nebraska Spring Meeting in April by the Center for Rural Affairs’ Rural Enterprise Assistance program (REAP).

The following women business owners were selected to receive the equity awards for 2007:

• Christina Wertenberger, Wertenberger Custom Milling, Falls City, Nebraska
• Karen Runkle, Lil’ Ladybug Greenhouse and Gardens, Hay Springs, Nebraska
• Becky Wyatt, Becky’s Health Hut, Sidney, Nebraska
• Lesley Connot, Awaken Salon, Ainsworth, Nebraska
• Lynn Welch and Cedonnia Hyke, The Pool Hall, Eustis, Nebraska

Read more about the award.

REAP Online Lending System

The Center’s Rural Enterprise Assistance Project (REAP) is proud to announce the launch of a new and innovative system in applying for REAP loans, the REAP Online Lending System. REAP has also unveiled a new loan product called the “REAP Rapid Loan.”

The REAP Rapid Loan incorporates an online application and is a loan product with a $5,000 maximum limit. REAP will continue to offer the “REAP Direct Loan,” a loan product with a $35,000 maximum limit.

If you know someone who wants to start or expand a small business in rural Nebraska and is looking for financing, please mention the REAP Online Lending System to them as an option. Also, keep in mind the full range of services that REAP provides including lending, training, networking opportunities, technical assistance, and loan packaging services for startup and existing microenterprise (businesses with five or fewer employees).