Local Financial Resources
City of McCook Economic Development Revolving Loan Fund
This economic development program will help you establish a business right here in McCook and is made possible by revenue from a ¼ cent sales tax. The program offers assistance with eligible business-related activities such as:
- Businesses which create one job for each $25,000 or less in public financing assistance.
- Applications which provide for the expansion or enhancement of existing businesses in McCook or its surroundings.
- New business starts.
- Businesses that in the opinion of the loan committee have unusual potential for growth.
- Businesses that are relocating from outside Nebraska.
- Businesses that provide for important local or regional needs.
- Businesses that bring revenue into McCook from outside Nebraska.
City of McCook Facade Improvement Plan
Funded by the Economic Development portion of the McCook City Sales Tax, the Facade Renovation Program is intended to provide financial assistance to improve the looks of our business districts, to attract additional private investment to help maintain our visible city attributes in good condition. Ultimately an attractive city will be draw more shoppers and visitors, improving our economy to the benefit of all residents and taxpayers.
Community Improvement Financing:
Tax increment financing (TIF) of the cost of public improvements for projects located in blighted and substandard areas. Its purpose is to reduce developer capitalization to a level that makes investment feasible. Public improvements include land purchase, clearance, and sale and construction of streets, sidewalks, utilities, parks or other similar public spaces necessary in site preparation.
McCook Community Development LLC:
This consortium of local lenders was formed to meet the needs of economic development in McCook. The primary purpose of this fund is renovation of down town properties. They have financed the acquisition and build-out of specialized buildings.
Other loan programs:
MEDC works with several organizations in order to provide specialized lending products. Rural Enterprise Assistance Project (REAP) and West Central Development District have micro-lending and technical assistance programs that will suit smaller projects. Through the Nebraska Business Development Centers we can access help with business plan development, market research, SBA loan packaging and an array of other services.
We can help you find the right building, understand local zoning, find vendors and service providers, secure a rail siding or any number of other technical tasks to take the stress out of establishing a profitable location here.