Small businesses booming in Nebraska

8/1/2011

The U.S. Small Business Administration has backed 102 small business loans in Nebraska in the past quarter, leading to more than 300 new jobs in the state.

Nebraska has a relatively low unemployment rate of 4.1 percent as of June, down from a high of 5 percent for most of 2009. The steady rise in employment numbers for the past two years may be due in part to the strength of its small business sector.

"As job growth remains sluggish in many other parts of the country, we see that small businesses are thriving and expanding here in Nebraska," noted SBA district director Leon Milobar

"Nebraskans continue to have faith in our economy," he continued. "The proof is in the jobs these entrepreneurs are creating, and we're proud through our lender partners to have put the financing these small businesses need into their hands."

SBA-backed loans can help existing business owners and entrepreneurs obtain financing through private lenders who may not normally consider applicants' credit or business strong enough for funding. Increases in SBA activity in a community typically signal an expansion of business activity and a resulting boost to employment and the local economy.