Rural Microentrepreneur Assistance Program - Florida and Virgin Islands

    From USDA: Rural Development (RD)

    We are committed to helping improve the economy and quality of life in rural America.

    Type of Support

    Overview

    This program aims to support Microenterprise Development Organizations (MDOs) through loans and grants focused on helping microenterprises in rural areas start and grow. Specifically, the grant seeks to assist with the establishment of a Rural Microloan Revolving Fund, along with providing necessary training and technical support to microloan borrowers and microentrepreneurs. Funding is directed towards organizations experienced in managing Revolving Loan Funds, or those with adequate training to do so, especially those already participating as intermediary lenders in reputable programs like the U.S. Small Business Administration (SBA) Microloan Program. Grant funds, up to $205,000 annually, require at least 15% matching funds and aim to support technical assistance for rural micro-entrepreneurs. Loans ranging from $50,000 to $500,000, with a total cap of $2.5 million in aggregate debt, support the revolving fund for broader business activities including working capital, debt refinancing, purchasing supplies, and real estate improvements. Loan terms to ultimate recipients include a maximum of $50,000, with a fixed interest rate and a maximum term of 20 years, requiring a loan loss reserve fund.

    Eligibility

    Organization's Location
    culpa consectetur
    Program Location
    et duis pariatur
    Organization Type
    Eiusmod
    Culpa sint
    Id do culpa laborum
    Other
    • incididunt ea reprehenderit ex ut cupidatat occaecat adipisicing sunt voluptate et deserunt sint adipisicing nulla irure voluptate aliquip
    • dolor laboris exercitation ullamco duis quis sunt aliqua anim labore dolore veniam labore tempor culpa officia incididunt ut ea cillum id consequat reprehenderit
    • ex sit proident aliqua voluptate laborum ad
    • elit quis sit proident deserunt qui ipsum consectetur nisi labore sit occaecat ullamco anim consequat eiusmod nisi labore nostrud consectetur

    Ineligibility

    Duis occaecat et incididunt dolor deserunt enim fugiat esse
    up to 500K

    Submission

    Visit Apply for more information.

    Similar grants