Agency
Program Site
Description
Provides loans and grants to Microenterprise Development Organizations (MDO): to provide microloans to help microenterprises startup and growth through a Rural Microloan Revolving Fund and provide training and technical assistance to microloan borrowers and micro entrepreneurs.
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% matching funds are required. Loans of $50,000 - $500,000 may be used for establishing a Rural Microloan Revolving Fund managed by the MDO. Total aggregate debt is capped at $2.5 million.
Eligibility
Federally-recognized tribes can directly apply. Most applicants are lending pools, including Native American Community Development Financial Institutions (CDFIs).
Climate Change Component
Natural resources rural communities depend upon will be affected by climate change. To help adapt to and mitigate the effects of climate change communities will need to develop businesses in rural areas. This program will assist in business development.