WASHINGTON, Aug. 31, 2022 – United States Department of Agriculture (USDA) Rural Development (RD) Under Secretary Xochitl Torres Small today announced that the Department is accepting applications for loan and grants to help rural microenterprises connect to new markets and create prosperity.
The funding is being provided through USDA’s Rural Microentrepreneur Assistance Program (RMAP).
RMAP provides loans and grants to a non-profit entity, tribe or institution of higher education as a Microenterprise Development Organization (MDO) to establish revolving loan funds to provide loans to rural microloan borrowers and micro entrepreneurs.
Additionally, the funds may be used to provide training and technical assistance to microentrepreneurs.
To be eligible for a loan from an MDO, an ultimate recipient must be a business with 10 or fewer full-time employees and be located in a non-metropolitan rural area with a population of 50,000 or less.
The Department is soliciting applications prior to the passage of a Fiscal Year (FY) 2023 Appropriations Act, which may or may not provide funding for RMAP, to allow applicants sufficient time to leverage financing, prepare and submit their applications, and give the agency time to process applications within FY 2023.
USDA is offering priority points to projects that advance key priorities under the Biden-Harris Administration:
• 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 RD programs and benefits from RD-funded projects; and
• Assist rural communities recover economically through more and better market opportunities and through improved infrastructure.
These extra points will increase the likelihood of funding for projects that will advance these key priorities in rural places.
Applications must be submitted to the USDA Rural Development State Office where the project is located no later than 4:30 p.m. local time on the following dates:
• First Quarter: Sept. 30, 2022.
• Second Quarter: Dec. 31, 2022.
• Third Quarter: March 31, 2023.
• Fourth Quarter: June 30, 2023
Interested applicants are encouraged to contact their local USDA Rural Development State Office well in advance of the application deadline to ask questions about their project, the program or the application process.
Additional information is available on page 53448 of the Aug 31, 2022, Federal Register.
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