We are committed to helping improve the economy and quality of life in rural America.
This program offers loans and grants specifically targeted at Microenterprise Development Organizations (MDOs) to support the startup and growth of microenterprises in eligible rural areas. The objectives include providing a Rural Microloan Revolving Fund for microloans, delivering training and technical assistance to microloan borrowers and micro entrepreneurs, and ensuring activities are focused on rural areas with populations of less than 50,000 to support economic growth outside urban centers. Financial assistance is available in the form of grants up to $205,000 annually for technical assistance and loans ranging from $50,000 to $500,000 for establishing a Rural Microloan Revolving Fund, with a total aggregate debt limit of $2.5 million. A matching funds requirement of at least 15 percent is in place for grant recipients.