PCDC Launches New Incentives for Startup Businesses

The costs of opening a new business or franchise can hinder some from even starting. The new PCDC Business & Franchise Development Program will remove some of those roadblocks and help entrepreneurs through the initial stages of starting a business.

The new GO! BUSINESS program offers support and financial incentives to grow a more robust Phelps County economy. The incentives are intended to assist businesses at startup when they are most at risk.

“The first six months and first year are the most rigorous for a start-up business,” PCDC Executive Director Ron Tillery said. “That is why we thought it was important to provide a broad array of assistance into new projects.”

The new program provides the following:

• Up to $10,000 for facility build-out, remodeling or initial rent.
• Up to $1,000 for construction or landfill fees.
• Up to $1,000 for initial inventory.
• Up to $1,000 per year for employee recruitment, training, workshops or seminars for three years.
• Research and site selection services at no cost.
• Low-interest gap financing not to exceed 50% of the total amount owed.

Certain criteria must be met to qualify for the incentives, such as submitting a copy of the application or current business license, letter of commitment for business or franchise financing, list of current assets and net worth, a comprehensive business plan and other business documents. The project must also result in the creation of new jobs.

Holdrege’s Blue Vine Bistro is the first recipient of the new GO! BUSINESS grants. The new restaurant in downtown Holdrege has received grants to help with initial inventory and employee recruitment and training as well as loans for remodeling and other start-up costs.

The Blue Vine Bistro plans to open this summer in The Dale in downtown Holdrege. The Blue Vine will serve pasta, sandwiches and fresh salads along with cocktails and other menu items.

If you would like more information about the new Business & Franchise Development Program or would like to download an application, visit https://www.phelpscountyne.com/business-services/financial-assistance/?cat=Loan+Resources.