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 rural areas with populations of fewer than 50,000 residents through loans and grants provided to Microenterprise Development Organizations (MDOs). It offers technical assistance for rural micro-entrepreneurs and establishes a Rural Microloan Revolving Fund. Grants of up to $205,000 annually are available for technical assistance with a requirement of at least 15% matching funds, and loans ranging from $50,000 to $500,000 can be used by MDOs to manage the Revolving Fund. Eligible microloan activities include working capital, debt refinancing, purchasing equipment and supplies, and improving real estate. The program stresses the necessity of MDOs to demonstrate their experience in managing Revolving Loan Funds or their capacity to do so through education and training.