We are committed to helping improve the economy and quality of life in rural America.
This grant program is designed to support the startup and growth of microenterprises in eligible rural areas with populations of fewer than 50,000 residents. The program offers both loans and grants to Microenterprise Development Organizations (MDOs). The loans, ranging from $50,000 to $500,000, are intended for establishing a Rural Microloan Revolving Fund, with a total aggregate debt limit of $2.5 million per borrower. Additionally, grants of up to $205,000 annually are available to provide technical assistance and training to microloan borrowers and micro-entrepreneurs. The program requires at least a 15 percent match in funding from grant recipients. It focuses on fostering economic growth and development within rural communities by aiding microenterprises in their initial startup phase and subsequent expansion efforts.