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USDA Rural Microentrepreneur Assistance Program (RMAP) – Second Quarter Applications Due 12/31

Opportunity Title:

Rural Microentrepreneur Assistance Program

Funder/Agency:

USDA

Description:

USDA provides RMAP funding to non-profits, Tribes, colleges and universities to create revolving loan fund programs and support training and technical assistance for rural microentrepreneurs and microenterprises. Rural businesses with 10 or fewer full-time employees are eligible for loans and technical assistance. USDA is particularly interested in applications that will advance Biden-Harris Administration priorities to:

  • Reduce climate pollution and increase resilience to the impacts of climate change through economic support to rural communities.

  • Ensure all rural residents have equitable access to Rural Development (RD) programs and benefits from RD-funded projects; and

  • Help rural communities recover economically through more and better market opportunities and through improved infrastructure.

The Rural Microentrepreneur Assistance Program 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:

Total Amount Available:

$29,000,000


Maximum Award:

Grants: $205,000

Loans: $500,000

Deadline:

The deadlines for completed applications to be received in the RD State Office for quarterly funding competitions are no later than 11:59 p.m. Eastern time on:

First Quarter: September 30, 2023

Second Quarter: December 31, 2023

Third Quarter: March 31, 2024

Fourth Quarter: June 30, 2024


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

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