Program Name: Rural Micro-entrepreneur Assistance Program  
Organization: United States Department of Agriculture – Rural Development  
Address: 2118 W. Part Court, Suite A, Champaign, IL 61821  
Phone: 217-403-6200  
Fax:    
TDD:    
Email:    
Website: https://go.usa.gov/xzD5Z  
Briefly Describe the Purpose of the Program  
Supports the startup and growth of small rural businesses.  
Year Program Established:
Eligibility Requirements or Restrictions

 

Open to: Nonprofits, federally recognized Tribes, and institutions of higher education (Borrowers must be businesses with 10 or less full-time employees.) Rural areas with populations of 50,000 or fewer. Terms and Conditions:

Loans: Loans range from $50,000 to $500,000. Maximum 20-year term with two- year payment deferral. Grants: Maximum grant of $205,000 annually
Application Deadline: Rolling bases
Application Guidelines:
Funding Cap Per Application or Fiscal Year Program Funding:
How Must Funds Be Used:

 

Loans can be used to establish revolving microloans for small, rural businesses, working capital, debt refinancing, equipment and supplies, and real estate improvements. Grants can be used to provide training and technical assistance to microloan borrowers and micro-entrepreneurs.