We are committed to helping improve the economy and quality of life in rural America.
This grant program aims to support the startup and growth of microenterprises in rural areas by providing loans and grants to Microenterprise Development Organizations (MDOs). The program focuses on fostering microenterprise development through a Rural Microloan Revolving Fund and offering training and technical assistance to microloan borrowers and micro entrepreneurs. MDOs must have experience with Revolving Loan Funds or demonstrate adequate training and strong participation in similar loan programs. Funding includes grants for technical assistance up to $205,000 annually, requiring at least 15% matching funds, and loans ranging from $50,000 to $500,000 to establish a Rural Microloan Revolving Fund. Loan terms extend up to 20 years with a two-year payment deferral and necessitate a loan loss reserve fund. Funds may be used for a variety of business-related expenses and activities to support rural microenterprises.