We are committed to helping improve the economy and quality of life in rural America.
This program aims to support the startup and growth of microenterprises in eligible rural areas through the provision of loans and grants. Specifically, it offers funding to Microenterprise Development Organizations (MDOs) for creating a Rural Microloan Revolving Fund and for offering training and technical assistance to microloan borrowers and micro entrepreneurs. Eligible areas are those rural regions outside cities or towns with fewer than 50,000 residents, focusing on projects that serve these communities. The program offers grants up to $205,000 annually for technical assistance to rural micro-entrepreneurs or microenterprises, requiring at least a 15 percent match in funds, and provides loans ranging from $50,000 to $500,000 for establishing a Rural Microloan Revolving Fund, with a cap on total aggregate debt at $2.5 million.