USDA RURAL MICROENTREPRENEUR ASSISTANCES PROGRAM

The Rural Microentrepreneur Assistance Program supports the development and ongoing success of rural microentrepreneurs and microenterprises by providing loans and grants to microenterprise development organizations.

An applicant must a nonprofit corporation, institution of higher education, or federally-recognized Tribe (the “Program Applicant”).

A successful Program Applicant (which is known as a “Microenterprise Development Organization”) may use the proceeds of its Rural Microentrepreneur Assistance to provide (a) microloans to help microenterprises startup and growth through a “Rural Microloan Revolving Fund” to lend to businesses (known as “microloan borrowers” and “micro entrepreneurs”) located in an eligible area with 10 or fewer full-time employees (“Program Borrowers”), and (b) training and technical assistance to Program Borrowers.