We are committed to helping improve the economy and quality of life in rural America.
This program offers financial support to Microenterprise Development Organizations (MDOs) to assist microenterprises with starting up and growing through a Rural Microloan Revolving Fund. It includes grants up to $205,000 annually for technical assistance to rural micro-entrepreneurs or microenterprises, with a mandatory 15 percent matching funds from applicants. Loans ranging from $50,000 to $500,000 are available for establishing a Rural Microloan Revolving Fund, with a total debt cap of $2.5 million. MDOs must show experience in managing a Revolving Loan Fund, relevant training, or active participation in similar loan programs. Loan terms can extend up to 20 years, with a two-year payment deferral and a requirement to establish a loan loss reserve fund. Funds can be used for various business activities such as working capital, debt refinancing, purchasing equipment and supplies, or improving real estate.
occaecat cupidatat exercitation excepteur laboris labore minim occaecat fugiat et occaecat aute nisi commodo aute incididunt irure exercitation