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# Rural Microentrepreneur Assistance Program

**Fact Sheet

Federal Register Notice

##             Overview          

**What does this program do?**
                                  - 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?**
                                  - Nonprofits.
                                  - Federally-recognized tribes.
                                  - Institutions of higher education.
                                  - 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.

Check eligible addresses for Business Programs.

**Are there other requirements?**
                                  - Certify that it or its employees have received education and training from a qualified microenterprise development training entity so that the applicant has the capacity to manage such a revolving loan fund.
                                  - Demonstrate that it is actively and successfully participating as an intermediary lender in good standing under the U.S. Small Business Administration (SBA) Microloan Program or other similar loan programs as determined by the Administrator.

**What kind of funding is available? **
                                  - Grants are available to provide technical assistance to rural micro-entrepreneurs or microenterprises, up to $100,000 annually. Funding at the requested level is not guaranteed, and at least 15 percent matching funds are required.
                                  - Loans of $50,000 to $500,000 may be used for establishing a Rural Microloan Revolving Fund managed by the Microenterprise Development Organization. Total aggregate debt is capped at $2.5 million.

**What are the loan terms?**
                                  - Maximum term is 20 years.
                                  - Two-year payment deferral.
                                  - Must establish a loan loss reserve fund.

**What terms are required on loans to ultimate recipients?**
                                  - Up to $50,000.
                                  - Fixed interest rate.
                                  - Limited to 75 percent of project cost.

**How may the funds be used?**
                                  - Working capital.
                                  - Debt refinancing.
                                  - Purchasing equipment and supplies.
                                  - Improving real estate.

**How do we get started?**

**Who can answer questions?**

local office

**What law governs this program?**
                                  - Code of Federal Regulations,  7 CFR 4280, subpart D .
                                  - This program is authorized by Section 379E of the Consolidated Farm and Rural Development Act (7 USC 2008s).

**Why does USDA Rural Development do this?**

**NOTE:**local office

##             To Apply          

**NOTE:** If state-specific forms are not shown above, please ensure that your state is selected in the dropdown menu above to find the State Office contact information and speak to a Business Programs Specialist before attempting to fill out any forms or applications. This will save you valuable time in your application.

RBCS How-To Apply Video Series for Applicants

You may also access the Code of Federal Regulations, 7 CFR 4280, subpart D.

##             Other Requirements          

There are no other additional requirements at the national level. If there are additional state-specific requirements they will be listed above.

##             Contact          

Please select your state in the dropdown menu above to find your local contact for this program.

##             Events