Rural Business-Cooperative Service

Description

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. Who may apply for this program?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.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.

Who can apply

• Public and State controlled institutions of higher education
• Native American tribal governments (Federally recognized)
• Nonprofits with 501(c)(3) status (other than higher education)

Contact

Shamika Johnson <br/>Program Manager
shamika.johnson@usda.gov