Burwell Economic Development

About

The economic development board of directors consists of six members appointed by the mayor, with the approval of the city council, along with the executive director. The board of directors meets on the third Thursday of each month at noon in the Great Western Bank conference room, 163 Grand Avenue, Burwell, Nebraska. All meetings are open to the public.

The mission of the Burwell Economic Development Board is to promote economic growth by retaining, growing, and expanding businesses in the Burwell area. The Burwell community is very supportive of its existing businesses and eager to support new business ventures. To show support for our local business community the Burwell Economic Development office has an ongoing business and expansion program, offering a Revolving Loan Fund, as well as other support programs.

Revolving Loan Fund

The Burwell Economic Development Revolving Loan Fund Program was developed by the Burwell Economic Development Board of Directors in 2005. Money in this fund is used solely for low-interest loans and loan guarantees. The Revolving Loan Fund provides a blended loan at lower than market interest rates for any eligible business in the Burwell area. While not meant to restrict the scope of flexibility of the fund, applicants are given special priority if they; create one job for each $25,000 or less in public financing assistance, provide for the expansion or enhancement of existing businesses in Burwell or the surrounding area, new business starts, businesses that in the opinion of the loan committee have unusual potential for growth, businesses that are relocating from outside Nebraska, and/or businesses that provide for important local or regional needs. A Revolving Loan Fund Committee has been established by the city to review all requests for funding. 

Business Facade Improvement Grant Program

Program Overview. Burwell Economic Development has developed the Business Facade Improvement Grant Program to encourage existing businesses to upgrade, repair or enhance the exterior frontage (facade) of their business. The grants are intended to support business development and enhance the overall business attractiveness of the Burwell area. Business property owners may request funds up to $5,000 per project with a 50% required cash match.

Project Example. As an example, a business presents a qualified project plan and bids with the grant application to replace windows, awnings and signage on the front of a retail business at a cost of $7,500. If program funds are still available at the time of the application and the Business Facade Improvement Grant Program Application is approved, the applicant would be reimbursed $3,750 (half of the completed project costs) upon presentation of paid project receipts.

Applications must be submitted, along with a project plan and at least two bids, before project initiation/construction. Applications will be considered on a first come — first served basis, until all budgeted program funds are exhausted. Applications are available in our office and on our website.