Business Resources

City of Cambridge Economic Development Economic Development

The Cambridge Economic Development Board is dedicated to helping businesses in the city succeed and grow. Toward that end, the Board offers several opportunities, including new-business incentives, educational opportunities, matching grants for improvements to business facades, and revolving loans to help new or existing local business owners with anything from operating costs to expansion, relocating in the city, or remodeling.

About

 

Revolving Loan Fund

Emphasis is placed on proposals that build on local resources, including, but not limited to, agricultural products, telecommunications infrastructure, health-care resources, tourism development, and specialty skills, such as arts and crafts. A key goal is to fund projects that address the out-migration of young people from the area by providing jobs that keep them home or bring them back to Cambridge. Both new business proposals and plans for the expansion of existing businesses are being considered.

Loans are available up to $20,000, with associated projects requiring equity injection from the business of at least 10% of the total project. The interest rate is 0.5% below the prime rate at the time, and loan terms must not exceed the useful life of the assets financed. Generally, working capital is 1 to 3 years, machinery and equipment 3 to 7 years, land, and buildings up to 15 years.

Business Façade Grants

This program offers 75% matching funds up to $10,000 to individual business and building owners in Cambridge who want to improve the appearance and quality of their building and, in turn, improve the overall look and feel of Cambridge.

The goal of this program is to encourage and support property owners, both in terms of design and financing, to restore or renovate a commercial building façade. Improvements must occur in areas visible from the public way and must be approved by the Cambridge Planning Commission and City Council.

Photos here show façade upgrades funded, in part, by these economic development grants in Cambridge. Beyond the physical and aesthetic business improvements that are a direct result of this matching-grant program, exterior improvements make good economic and business sense for property and business owners. Façade renovations improve property values and help attract new customers.

Internship Grants

The goal of the Cambridge Economic Development Board’s internship-grant program is to help educate youth about local jobs, encouraging them to stay in Cambridge or return here to work after college.  

Grants of up to $1,000 in matching funds are paid to businesses in the 69022-zip code that successfully applies to the Economic Development Board for them.  Internships must pay at least the federal minimum wage for at least 240 hours. Grant funds are paid when the internship is complete, including an essay from the intern and a form of completion and review from the employer. 


The program connects high school and college students with local employers, providing a unique opportunity for the students to gain valuable business experience and begin developing into tomorrow’s leaders. Internships create lasting connections between students and the community; more than 50% of interns become full-time employees at their place of internship, according to the National Association of Colleges and Employers.

 

Services Provided

Financial Resources and Assistance

  • Grant Funding Providers (Specialty)
  • LB840 (Specialty)
  • Loan Providers (Specialty)

Economic and Site Development

  • Revitalization (Specialty)

Internship Programs and Student Services

  • Internship Program
Contact Information
Economic Development Director
Address
722 Patterson Street
Cambridge, NE 69022