The U.S. Department of Agriculture (USDA) Rural Development is accepting applications for loans and grants to support rural microenterprises.
USDA's Rural Microentrepreneur Assistance Program (RMAP) provides loans of $50,000 to $500,000 to establish rural microloan revolving funds that help microenterprises start up or expand. The revolving funds may be used to provide working capital, refinance debt, purchase equipment and supplies, or improve real estate.
The program also provides grants of up to $205,000 to help provide training and technical assistance to rural microenterprises and microentrepreneurs.
Nonprofits, federally-recognized tribes, and institutions of higher education operating as Microenterprise Development Organizations (MDOs) are eligible to apply. They can use the funding to support businesses with 10 or fewer full-time employees located in rural areas with a population of 50,000 or less.
Applications are accepted year-round. To discuss a potential project, contact Eben Fisher, Business and Cooperative Program Specialist, (541) 278-8049 x129.