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  • Caroline Winter

USDA Rural Microentrepreneur Assistance Program. Ongoing.

Opportunity Title:

Rural Microentrepreneur Assistance Program (RMAP)



Description:

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.



Eligibility:

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.



Award Details:

  • Grants are available to provide technical assistance to rural micro-entrepreneurs or microenterprises, up to $205,000 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.



Application Deadline:

Ongoing.



Opportunity Link



Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.

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