We are committed to helping improve the economy and quality of life in rural America.
The grant program offers loans and grants to Microenterprise Development Organizations (MDOs) for the purpose of aiding the startup and growth of microenterprises through a Rural Microloan Revolving Fund. In addition, it aims to provide training and technical assistance to microloan borrowers and micro-entrepreneurs. To qualify, MDOs must either have experience in managing a Revolving Loan Fund or must ensure that they or their employees have been properly trained by a qualified microenterprise development training entity to manage such funds. They should also be active and successful intermediary lenders in good standing under the U.S. Small Business Administration (SBA) Microloan Program or other similar programs. Funding is available for technical assistance to rural micro-entrepreneurs or microenterprises up to $205,000 annually, although the full requested amount is not guaranteed and requires at least a 15 percent match in funding.