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 financial assistance and developmental support. It provides loans and grants to Microenterprise Development Organizations (MDOs) for the creation of a Rural Microloan Revolving Fund and to offer training and technical assistance to microloan borrowers and micro-entrepreneurs. The program targets rural areas outside cities or towns with a population under 50,000, specifying that the borrower's headquarters can be in a larger city as long as the project serves a qualified rural area. Grants up to $205,000 annually are available for technical assistance, requiring at least 15 percent in matching funds from the recipient. Additionally, loans ranging from $50,000 to $500,000 are offered for establishing the Rural Microloan Fund, with a total aggregate debt limit of $2.5 million for borrowers.