Rural Microentrepreneur Assistance Program
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.
Grant Deadline
Deadline not available
Funding Amount
$500,000
Type of Grant
Loans
Sectors
All Sectors
Demographics
Incorporation
For Profit, Non Profit, Government Institution
Perks
Region Restriction
This grant is restricted to whole of United States
Keywords
startup, development, loans, Growth, Provide Training, Rural Microloan, Microloan Borrowers, Microloan Revolving
Age Restriction
This grant is age restricted from 18 to 100
Eligibility and Requirements
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.
Check eligible addresses for Business Programs.
Are there other requirements?
Microenterprise Development Organizations must demonstrate experience in managing a Revolving Loan Fund, or:
- 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.
Grant Application website
Contact
Who can answer questions?
Contact your local office.