Business financing in Chase County.

Small business financing is money you borrow — or sometimes receive as a grant — to start, run, or grow a business. It can cover equipment, inventory, a vehicle, a building, payroll, or working capital to bridge slow months.

The most common types you will encounter in Chase County are:

• **Term loans** – You borrow a fixed amount and repay it in regular monthly installments over a set period, usually 2–10 years.

• **Lines of credit** – A revolving account you draw from as needed and repay, similar to a business credit card but usually with a lower interest rate.

• **Microloans** – Smaller loans (typically $500–$50,000) designed for newer or smaller businesses that may not qualify for traditional bank loans.

• **SBA-guaranteed loans** – Loans made by a local lender but partially backed by the U.S. Small Business Administration, which reduces the lender's risk and can help you qualify with a shorter business history or less collateral.

• **Equipment financing** – A loan or lease tied specifically to a piece of equipment; the equipment itself serves as collateral.

• **Grants** – Free money you do not repay, usually from government agencies or nonprofit programs. They are competitive and come with specific requirements.

None of these options require you to give up ownership of your business, unlike equity investment. For most sole contractors and small operators in a rural county like Chase, a loan or microloan is the most realistic and accessible starting point.

Chase County is a sparsely populated, agriculture-driven county in southwest Nebraska. The county seat is Imperial. The local economy is built around dryland and irrigated farming, cattle ranching, agribusiness services, small retail, and the contractors and tradespeople who support those industries — plumbers, electricians, welders, builders, and haulers.

Because of this rural character, Chase County residents often face challenges that borrowers in larger cities do not:

• **Thin credit files or no credit history** — Many long-time cash-based operators have little formal credit history. Lenders who understand agriculture and rural business will often work with alternative documentation.

• **Seasonal or variable income** — Ranchers, farmers, and contractors tied to agriculture may have strong annual incomes but uneven monthly cash flow. A good lender will look at annual averages, not just last month's bank statement.

• **ITIN borrowers** — Some residents and business owners use an Individual Taxpayer Identification Number (ITIN) rather than a Social Security number. Several CDFIs and ITIN-friendly lenders in the region accept ITIN for business loan applications.

• **Newer businesses** — If you have been operating informally or recently formalized your business, you may not have two years of business tax returns. Some microloan programs are specifically designed for this situation.

Generally, lenders will look at: time in business, personal and business credit scores, annual revenue, existing debts, and whether you have any collateral (equipment, real estate, vehicle). You do not need to be perfect on every factor — that is exactly what community lenders and CDFIs are built to address.

Gathering your paperwork before you approach a lender saves time and signals that you are organized and serious. Requirements vary by lender and loan type, but here is what most will ask for:

**Basic Identity & Business Documents**

• Government-issued photo ID (driver's license, passport, or consular ID)

• Social Security number OR ITIN

• Business name registration or DBA ("doing business as") certificate from the Nebraska Secretary of State

• EIN (Employer Identification Number) from the IRS, if you have employees or operate as an LLC

**Financial Documents**

• Last 2 years of personal federal tax returns (or 1 year if you are a newer business)

• Last 2 years of business tax returns, if you have them

• 3–6 months of business bank statements

• A current profit-and-loss statement (a simple income/expense summary is fine for small operators)

• A list of any business debts you currently carry

**For Larger Loans or SBA Loans**

• A basic business plan describing what you do, who your customers are, and how you will repay the loan

• A cash flow projection (estimates of income and expenses for the next 12 months)

• Collateral documentation — title to a vehicle, equipment appraisals, or property records

**For ITIN Borrowers**

• Your ITIN card or IRS assignment letter

• Two or more years of ITIN-filed federal tax returns

• Bank statements showing business activity

Do not let a missing document stop you from making the first call. A good community lender will tell you exactly what they need and give you time to gather it.