Panhandle Area Development District (PADD)
About
Economic Development Loan Fund
The PADD Revolving Loan Fund (RLF) was created to meet the following goals in the Panhandle of Nebraska.
- Further economic development.
- Promote and assist growth and development of business and industrial concerns.
- Stimulate business opportunities for development.
- Provide funding for business startups, business expansion, and business transitions that create or retain jobs in the panhandle.
The RLF provides subordinated gap financing, in conjunction with local financial institutions, as well as direct financing in some cases: to meet the goals of the fund. These loans are perfect for financing fixed assets such as land, buildings, and equipment, as well as working capital or inventory.
The RLF is available to economic development projects within the 11-county region that makes up the Nebraska Panhandle.
Social Enterprise
Generous private investments have made funds available to award out for Social Enterprise and community projects in the Panhandle. The Panhandle Partnership and Panhandle Area Development District (PADD) together with community-based committees will administer these funds and related supports. PADD also received an award from the Peter Kiewit Foundation to support the first-year staff, training, and travel to launch this initiative. These investments will accelerate the sound development of the financial, educational, and management support to grow Social Enterprise in the Panhandle.
What is a Social Enterprise?
Social enterprises are businesses whose primary purpose is the common good. They use the methods and disciplines of business and the power of the marketplace to address social, environmental, and human justice needs.
At the heart of this work was the desire to carve a path for the linkage of economic and community development based on common values and vision, as well as
- Maximize the viability of social enterprise projects
- Promote opportunity to reduce grant dependency for non–profits
- A place for local investors interested in sustainable community development to donate funds
- Encourage more inclusive communities
- Include social enterprise within the Panhandle Economic Development continuum
- Encourage businesses to redefine success to be for more-than-profit, to include a positive social and human impact
- Engaged community partners provide a value-add for private foundations investing in the Panhandle through a shared granting or funding process
Funding Support
Funding support for this effort is broken into two streams: the Innovations and Investment Fund to support Social Enterprise businesses; and the Greater Good Fund to support community projects that are sustainable and beneficial to the whole community.
Funds
Innovations & Investment Fund
The purpose of the Innovations and Investment Fund is to support social enterprise businesses or projects. Support could be designated both for standalone social enterprise businesses or existing non-profit ‘spin-off’ initiatives where a program will run like a business to meet a particular mission. Applicants will be expected to plan and research before starting up just like any other business and can draw on the support of area partners for education and mentoring on business and social impact best practices. For this first year, cash infusions will be made generally not to exceed $50,000, and a 100% match is required. Applications will be received on a rolling basis.
Services Provided
Business Planning
- Feasibility Studies
- Business Plan Consulting, Development and Review
- Demographic/Census Data
- Business Succession Planning
Financial Resources and Assistance
- Loan Providers (Specialty)
- Grant Funding Providers (Specialty)
Legal Services
- Environmental Compliance
Libraries and Research Organizations
- Demographic/Census Data
Marketing/Sales
- Demographics/Census Data
- Feasibility Studies
Networking Organizations
- Geographically Based
- Small Business/General
Office, Incubator, Accelerator, Laboratory, Kitchen and Meeting Space
- Site Location
Economic and Site Development
- Environmental Compliance
- Site Location Assistance
- Revitalization
Regulatory Compliance
- Codes
- Environmental Compliance
- Government Requirements
Training
- Business Plan Training and Assistance
Nonprofit Development
- Strategic Planning
Human Resources
- Workforce Training
Bryan Venable
1620 Broadway
Suite A-10
Scottsbluff, NE 69361
(308) 436-6584
(308) 436-6577
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