 |
OUR HISTORY
 |
|
Building
Blocks of Our Rich History
The history of the Nebraska Enterprise Fund
began in 1994. With multiple micro programs
developing across the state at that time, it
became apparent that there was a need for an
organization to assist in procuring grant and loan
funds to meet long-term operational and lending
needs. Gene Severens, set out to work on the
design and development of the Nebraska
Microenterprise Partnership Fund (NMPF), a
statewide microenterprise intermediary, and served
as the first director. NMPF’s name was changed to
Nebraska Enterprise Fund (NEF) in 2008, but the
mission and purpose remained the same. |
Gene Severens
|
1994 NEF (aka NMPF) and NEON started
 |
 At
the same time, micro practitioners gathered to
form the Nebraska Enterprise Opportunity Network
(NEON) to provide education and policy work around
microenterprise. Rose Jaspersen was the Charter
Chairperson of NEON. NEF staff provided
operational support for the organization, making
it possible for NEON to apply for and accept
funding. NEON eventually disbanded in 2008,
blending its roles into NEF working groups. |
1996 First NEF loans and grants to micro
programs
|
|
NEF was successful in raising its
first loan capital in 1995 and began
making loans to programs for relending to
businesses in 1996. The first pass through grants
to micro programs for operational costs were also
made in 1996. |
1997 Microenterprise Development Act passed
|
| |
 Ed
Kentch of FNBO presenting EQ2 funds to NEF board
chair, Steve Peregrine, 2002
In 1997,
NEON members and NEF staff worked together to
write and
pass the Microenterprise Development Act.
NEF subsequently contracted with the Nebraska
Department of Economic Development to administer
the funds each year. This Act has provided
$5,234,500 for pass through grants and $1,250,000
in loan capital for programs. NEF has raised
additional grant and loan capital from other
private, public sources over the years. For
example, NEF received its first Equity Equivalent
Investment (EQ2) for additional loan capital in
2000. |
1997 501c3 status granted
|
| |
 NEF
was awarded non-profit status as a
501c3, serving as a support corporation
of the Nebraska Community Foundation in 1997. This
was followed in early 1998 with
certification by the US Treasury’s CDFI Fund.
Both of these activities made it possible for NEF
to then apply for and receive funds from new
national and state sources. In addition, NEF was
awarded the first of its kind Presidential Award
for Excellence in Microenterprise by the
President. |
1998 Certified as a community development
financial institution by the CDFI Fund
|
2000 NEF receives first EQ
|
|
In 2000, Gene left NEF to do microenterprise work
on the national level.
Rose Jaspersen was
then hired as Executive Director of the
organization. Current staff, in addition to Rose
includes
Glennis McClure,
Program Manager, and
Jane Olson, Program
Assistant.
NEF received public charity status from the
Internal Revenue Service in 2008. It was decided
to separate NCF and NEF at the time, allowing NEF
to bring its bookkeeping in-house.
Over the years, NEF has provided capacity building
training for microprograms in the state. Many
topics including technology in marketing, business
plan writing, tax literacy, etc. have been
presented in twice yearly trainings. Once training
focused on becoming a CDFI. As a result two
Nebraska microprograms became certified. In
addition, NEF staff provide technical assistance
to programs, assisting with various questions
throughout the year.
One of NEF’s key roles is to continue to innovate
and develop new products for the field. For
example, the following have come about as a result
of this work:
MIRS – Microenterprise Information
Referral System was developed to link
microprograms with banks to serve
unbankable customers.
NEF website – NEF
established a website in 2003 for
educational purposes and to serve as a
vehicle for linking businesses to micro
program services.
Access Template – NEF had a
first of its kind tool developed for
program use in recording and sharing data
in 2003. Prior to that time an Excel
spreadsheet format had been used. In
April, 2010 NEF launched a new and
improved data collection system.
Tax Literacy – Working with
program partners, NEF facilitated the
development of tax preparation/literacy
forms to help businesses enter the formal
economy by paying taxes.
New loan products – NEF has
developed several new loan products in
addition to the Evergreen loans. These
products make it possible to fill gaps
where businesses may not have access to
capital. |
|
2010 New and improved data collection system
|
|
Today |
|
In addition to its funder role, NEF has gathered
data from grantees/borrowers for the last 13
years. Performance data from the programs and
outcomes data from businesses are collected. The
information is presented to the Legislature yearly
in a report. The 2010 Report can be found
here.
NEF continues to network and share information
with other organizations in Nebraska and
nationally regarding this work. For example
presentations by NEF staff have lead to new
intermediary activities/organizations in Kansas,
Iowa, Minnesota and Michigan.
|
|
Back to Top
|
|
|
|
