Rural Microentrepreneur Assistance Program

What does this program do?

It provides loans and grants to Microenterprise Development Organizations (MDOs) to:

• To help microenterprises startup and growth through a Rural Microloan Revolving Fund.
• Provide training and technical assistance to microloan borrowers and micro entrepreneurs.

Who may apply for this program?

The following are eligible to be a Microenterprise Development Organization:

• Nonprofits.
• Federally-recognized tribes.
• Institutions of higher education.

The following are eligible to apply for a loan from the MDO as an ultimate recipient:

• Businesses located in an eligible area with 10 or fewer full-time employees.

What is an eligible area?

• Rural areas outside a city or town with a population of fewer than 50,000 residents. Urbanized areas near a city of 50,000 or more may not be eligible.
• The borrower’s headquarters may be based within a larger city so long as the project service area is located in an eligible rural area.
• The lender may be located anywhere.

Government

• Federally recognized Native American tribal governments

Education

• Public and state institutions of higher education

Nonprofit

• Nonprofits non-higher education with 501(c)(3)