We are committed to helping improve the economy and quality of life in rural America.
This grant program aims to support the startup and expansion of microenterprises in rural areas. It provides loans and grants to Microenterprise Development Organizations (MDOs) that demonstrate the capacity to manage a Rural Microloan Revolving Fund. The program's goals are to enable these organizations to offer microloans and technical assistance to microentrepreneurs, promoting economic development and job creation in rural communities. Grants up to $205,000 annually are available for technical assistance to micro-entrepreneurs, with a requirement for match funding. Loans ranging from $50,000 to $500,000 are available for MDOs to establish a Rural Microloan Revolving Fund, with a total debt cap of $2.5 million. The program also stipulates loan terms for both the MDOs and the ultimate recipients, aiming to ensure sustainability and effectiveness in supporting business activities that contribute to rural economic growth.