Hey there, fellow Cornhuskers! If you’re a small business owner in Nebraska looking to score big like the Huskers at Memorial Stadium, you might want to consider applying for a small business grant.
Just as Omaha Steaks has become a household name, your business could be the next big thing with a little financial boost. In this article, we’ll explore where to find small business grants right here in the Cornhusker State, from Lincoln to Scottsbluff. We’ll also walk you through the steps to qualify for these grants, making the process as smooth as a drive down Chimney Rock.
Where to Search for Small Business Grants in Nebraska
Nebraska’s hidden gems of business opportunity are waiting to be discovered by savvy entrepreneurs with a keen eye for potential. With a little digging and the right resources, you’ll uncover a treasure trove of grants and support systems designed to nurture your entrepreneurial dreams in the Cornhusker State.
Some Nebraska Local Resources Include:
Nebraska’s Small Business Association: The SBA in Nebraska is a treasure trove of resources for ambitious entrepreneurs seeking funding. They offer a smorgasbord of options, from loans to mentorship programs, all designed to help small businesses thrive in the Cornhusker State.
While the Nebraska SBA doesn’t directly offer grants, they do provide invaluable guidance on finding and applying for various grant opportunities. Their website features a comprehensive list of state and federal grants that Nebraska entrepreneurs might be eligible for, making the daunting task of securing funding a bit less overwhelming.
Nebraska’s Economic Development Agency: The Cornhusker State’s economic powerhouse is a treasure trove for aspiring entrepreneurs. With a smorgasbord of funding options and business-boosting resources, it’s like finding a golden ticket in your Wonka bar of startup dreams.
Nebraska’s Economic Development Agency offers the Business Innovation Act Small Business Innovation Research (SBIR) Initiative, a grant program that’s music to the ears of innovative small businesses. This grant provides matching funds of up to $50,000 for Phase 0 and up to $100,000 for Phase I and II, making it perfect for tech-savvy startups and research-driven enterprises looking to turn their groundbreaking ideas into market-ready realities.
Nebraska’s Chamber of Commerce: The Nebraska Chamber of Commerce is a goldmine for entrepreneurs seeking funding opportunities. They offer a comprehensive database of grants, loans, and investment programs tailored to various industries and business stages. Their expert advisors can guide you through the application process, increasing your chances of securing the capital you need to grow your business.
The Nebraska Chamber of Commerce also provides a Small Business Innovation Grant program for eligible startups and early-stage companies. This grant aims to support innovative projects that have the potential to create jobs and stimulate economic growth in the state. To qualify, businesses must be based in Nebraska, have fewer than 50 employees, and demonstrate a clear plan for developing and commercializing their innovative product or service.
Featured Small Business Grant You Shouldn’t Miss
Entrepreneurs in Nebraska, listen up! The Nebraska Microenterprise Assistance Program offered by the Nebraska Enterprise Fund is a game-changer for small businesses. This grant opportunity is designed to support microenterprises, which are typically defined as businesses with five or fewer employees. If you’re a startup founder, sole proprietor, or running a small family business in Nebraska, this program could be your ticket to growth and success. The funding can be used for various purposes, including working capital, equipment purchases, or even marketing initiatives. To learn more about how this program can benefit your business, click here for detailed information.
To qualify for the Nebraska Microenterprise Assistance Program, you’ll need to meet certain criteria. First and foremost, your business must be located in Nebraska and fall under the microenterprise category. Additionally, you may need to demonstrate financial need and have a solid business plan in place. The Nebraska Enterprise Fund typically looks for businesses that show potential for growth and job creation within the state. Keep in mind that preference might be given to businesses in underserved communities or those owned by individuals from disadvantaged backgrounds. It’s crucial to thoroughly review the eligibility requirements and application process to ensure you put your best foot forward when applying for this valuable grant opportunity.
Top Resources for Finding More Grants
When looking for small business grants, it may benefit you to look beyond the boundaries of Nebraska. Skip is your one-stop platform for discovering and securing the funding you need to start or grow your business. With thousands of grants ranging from $1,000 to $25,000, finding the perfect opportunity is just a click away.
Imagine having access to a user-friendly dashboard where you can track and apply for grants tailored to your business in Nebraska. Skip’s AI-assisted grant writing tool helps craft compelling applications that stand out, and with instant feedback, you can ensure your submission is top-notch every time.
Join the thriving community of entrepreneurs who have already reaped the benefits of Skip. With over $300,000 in grants donated and strong partnerships with government agencies and non-profits, Skip is dedicated to your success. Take the first step today and turn your business dreams into reality – Click Here to get started with Skip.
Essential Steps to Qualify for Small Business Grants
As an entrepreneur in Nebraska, it’s crucial to understand that most small business grants, whether at the local or national level, typically require your business to be incorporated. This requirement is often in place to ensure that grant funds are allocated to legitimate, established businesses rather than individuals or informal ventures. Incorporation not only demonstrates your commitment to your business but also provides a legal structure that can make your enterprise more attractive to grant-giving organizations.
When it comes to incorporating your business, we have found that Northwest Registered Agent offers the best assistance for entrepreneurs. Their expertise in navigating the incorporation process, combined with their exceptional customer service, makes them stand out from other providers. By choosing Northwest Registered Agent, you can ensure that your business is properly incorporated, meeting the requirements for grant applications while also benefiting from their ongoing support and guidance in maintaining your corporate status.
The Critical Role of Compliance in Securing Grant Eligibility
Compliance isn’t just a box to check; it’s your ticket to opportunity. For entrepreneurs in Nebraska, staying on top of federal and state taxes, along with keeping business registrations current, isn’t just about avoiding trouble—it’s about opening doors to grants that could fuel your growth. Think of it as tending to the roots of your business tree, ensuring it’s sturdy enough to reach for the sky.
The Corporate Transparency Act has added a new branch to this compliance tree: the Beneficial Ownership Information Report. This isn’t just another form to file; it’s a safeguard against hefty penalties that could prune your profits. By disclosing your business’s true owners, you’re not just following the law—you’re fortifying your enterprise against the storms of non-compliance.
That’s where we come in. Navigating the Beneficial Ownership Information Reporting (BOIR) requirements can be daunting, but our website simplifies the process. We offer a secure and straightforward filing experience with a direct connection to FinCEN, ensuring your information is handled with the highest level of security. Our platform makes compliance effortless so you can focus on growing your business.
Don’t let penalties slow your business down. Failing to comply with Beneficial Ownership Information Reporting (BOIR) requirements can result in severe consequences. If you fail to file, you could be subject to the following penalties:
- Fines of up to $500 per day for failure to file BOIR
- Cumulative fines reaching up to $10,000
- A person who willfully violates the BOI reporting requirements may be subject to criminal penalties of up to two years imprisonment.
Not sure if you have a BOIR filing requirement? Please take our quick BOI eligibility quiz to determine whether you need to file and ensure you comply with regulations.
Conclusion: Navigating Business Grants Opportunities in Nebraska
In the end, building a successful business is about more than just securing funding. It’s about persistence, adaptability, and making the most of every opportunity. Nebraska entrepreneurs have a wealth of resources at their fingertips, from local organizations to national platforms. The key is to approach these opportunities with the same grit and determination that inspired you to start your business in the first place. Remember, every great company started somewhere, often with a small grant or a helping hand. Your next big break could be just an application away. So keep pushing, keep learning, and keep believing in your vision. The path of entrepreneurship is rarely easy, but with the right resources and mindset, it can be incredibly rewarding.
For all of you out there who haven’t yet tackled your BOIR, the time to act is now. Procrastination won’t get you anywhere, but taking just a few minutes to complete our straightforward form will. Don’t let this critical step in your compliance journey slip through the cracks—get it done and move forward with confidence.
Frequently Asked Questions
Have questions about the Beneficial Ownership Filing process? Check out FinCEN BOI Filing's frequently asked questions for the answer.
What is a BOI report?
A Beneficial Ownership Information (BOI) report is a filing required by FinCEN to disclose key details about individuals who own or control a company, ensuring compliance with anti-money laundering laws and enhancing corporate transparency. Filing a BOI takes 5-10 minutes and can be done here.
When does the CTA become effective?
The Corporate Transparency Act (CTA) reporting requirements take effect on January 1, 2024. Business entities established before this date have until January 1, 2025, to meet the reporting obligations.
Are there penalties for not filing a BOI report?
Yes, failing to file a BOI report can result in substantial penalties, including hefty fines and potential legal repercussions. Learn more about the BOI deadlines and non-filing BOI penalties.
How do I file a BOI report?
Filing a BOI takes about 5-10 minutes and can be done here. If you’re not sure if you are required to file, you can take the one minute BOI Eligibility Quiz.
Who is considered a beneficial owner?
A beneficial owner is any individual who either:
- Directly or indirectly exercises substantial control over the reporting company, or
- Directly or indirectly owns or controls 25% or more of the company’s ownership interests.
Substantial control includes the power to direct, influence, or determine significant decisions of the company. This may involve senior officers or individuals with authority to appoint or remove senior officers or a majority of the board.
Ownership interests encompass rights that establish ownership in the company, ranging from basic stock shares to more complex financial instruments.
For more details on “substantial control” and “ownership interests,” refer to our guide on complex ownership structures.
How do BOI reports get submitted to FinCEN?
We submit reports through a secure API connection directly with FinCEN’s Beneficial Ownership Secure System (BOSS). This integration allows for seamless and efficient filing of Beneficial Ownership Information reports, reducing the time it takes to complete and submit a report.
Our user-friendly form is designed to minimize errors by guiding you through the process with clear prompts and checks. Additionally, by using the secure API connection, we ensure that your data remains private and protected throughout the submission process, adhering to the highest security standards.
Who can access the beneficial ownership information?
The beneficial ownership information will be accessible only to authorized government agencies, such as law enforcement and regulatory authorities, for the purpose of combating money laundering, fraud, and other financial crimes.
This data is not publicly available and is used solely for compliance with legal and regulatory requirements. Only those with a legitimate need, as defined by the law, will be able to access this information to ensure transparency and uphold national security.
You can read more about keeping your personal information private when filing your BOIR.
Do I need to file a BOIR annually?
No, you do not need to file a Beneficial Ownership Information Report (BOIR) annually. However, you are required to update and file a new report if there are any changes to the beneficial ownership or company applicant information, such as changes in ownership or control. The report must be filed when there are material updates, but there is no annual filing requirement unless changes occur.
What information is required in a BOI report?
Type of Report
The reporting company must specify the type of report being submitted: an initial report, a correction of a prior report, or an update to a prior report.
Company Information
The reporting company must provide the following details:
- Legal Name: The official name of the company.
- Trade Name: Any “doing business as” (DBA) names used by the company.
- Address: The current street address of its principal place of business. If the principal place of business is outside the U.S., the company must report the address from which it conducts business in the U.S.
- Taxpayer Identification Number (TIN): This includes an EIN, SSN, or ITIN, as appropriate.
Beneficial Owner Information
The reporting company must provide the following details for each beneficial owner:
- Legal Name: The individual’s full legal name.
- Date of Birth: The individual’s date of birth.
- Address: The individual’s residential street address.
- Identification Document: A unique identifying number from an acceptable identification document, the issuing state or jurisdiction, and an image of the document.
Company Applicant Information (if required)
For reporting companies created on or after January 1, 2024, the following information about the company applicant must be provided:
- Address: The individual’s residential street address. If the applicant forms or registers companies as part of their business (e.g., paralegals), the business address can be used. The address does not need to be in the U.S.
- Identification Document: A unique identifying number from an acceptable identification document, the issuing state or jurisdiction, and an image of the document.
Who needs to file a BOI report?
Most businesses are required to file a BOI report, with exceptions for 23 specific categories, such as publicly traded companies and other regulated entities. To learn more about these exemptions and determine if your business needs to file, read this article.
When is the BOI report due?
- Companies formed or registered before January 1, 2024, must file an initial BOI report by January 1, 2025.
- Companies formed or registered in 2024 must file a BOI report within 90 days of receiving actual or public notice of their formation or registration.
- Companies formed or registered on or after January 1, 2025, must file their initial BOI report within 30 days of receiving actual or public notice.
You can learn more about the BOI deadlines here.
What is type of ID is required?
Acceptable identification documents include the following:
- A valid, unexpired driver’s license issued by a U.S. state or territory.
- A valid, unexpired ID card issued by a U.S. state, local government, or Indian Tribe for identification purposes.
- A valid, unexpired passport issued by the U.S. government.
- If none of the above is available, a valid, unexpired passport issued by a foreign government may be used instead.
An identification document must be collected for each beneficial owner.
For companies formed after 2023, an ID must also be provided for the company applicant.
Who is a company applicant?
A company applicant is the individual responsible for creating or registering a company. Specifically, it includes:
- The individual who directly files the document to form or register the entity with the relevant state or tribal authority, such as the Secretary of State.
- The individual primarily responsible for directing or controlling the filing process, even if they are not the one submitting it.
For companies formed or registered after January 1, 2024, this information must be reported as part of the Beneficial Ownership Information Report (BOIR).
Is it necessary to use a certified public accountant (CPA) or other professional to submit a BOI report?
Is a company required to update and correct information that is no longer accurate?
Yes, a company is required to update or correct its beneficial ownership information whenever it is no longer accurate. If there are any changes to the company’s beneficial owners or company applicant information, such as a change in ownership percentages or control, the company must file an updated report with the correct details. This ensures that the information on record remains accurate and compliant with the reporting requirements, helping to maintain transparency and reduce the risk of misuse.
Will I receive a confirmation of submission after submitting the BOIR?
After submitting your BOIR through our website, you will receive an email containing a unique submission process ID, confirming that your submission has been successfully received.
The email will also notify you once FinCEN has accepted your report. In rare instances, if your submission is rejected, we will inform you of the reason and provide a link to resubmit the corrected information.
You can track the status of all your submissions through our BOIR tracking page, ensuring you stay updated on the progress of your report. Most submission have a confirmed acceptance within a few minutes of submission.
