The Rural Business-Cooperative Service is currently accepting application for its Rural Microentrepreneur Assistance Program.
Donor Name: Rural Business-Cooperative Service
State: All States
County: All Counties
Type of Grant: Grant
Deadline: 06/30/2023
Size of the Grant: $500,000
Details:
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.
Funding Information
Award Ceiling: $500,000
Who may apply for this program?
- The following are eligible to be a Microenterprise Development Organization:
- 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.
Eligibility Criteria
- Native American tribal governments (Federally recognized)
- Public and State controlled institutions of higher education
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education.
For more information, visit Grants.gov.