USDA seeks applications for rural microenterprise loans and grants

From USDA Rural Development

BOZEMAN — U.S. Department of Agriculture Deputy Under Secretary for Rural Development Justin Maxson announced Monday that the department is accepting applications for loans and grants to support rural microenterprises.

The funding is being provided through USDA’s Rural Microentrepreneur Assistance Program.

RMAP provides loans and grants to a non-profit entity, tribe or institution of higher education as a Microenterprise Development Organization to establish revolving loan funds to provide loans to rural microloan borrowers and micro entrepreneurs. The funds also 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.

Interested applicants are encouraged to contact USDA Rural Development Montana’s Business and Cooperative Programs Director Lad Barney at 406-309-3350 or [email protected], well in advance of the application deadlines to discuss their project and ask any questions about the RMAP program or the application process.

For additional information and for application deadlines, people can see page 41,004 of the July 30 Federal Register.