USDA Seeks Applications for Loans and Grants to Expand Markets for Rural Small Business Owners and Entrepreneurs

USDA Rural Development sent this bulletin at 08/22/2024 11:34 AM EDT

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USDA Rural Development - Together, America Prospers

STAKEHOLDER ANNOUNCEMENT

USDA Seeks Applications for Loans and Grants to Expand Markets for Rural Small Business

WASHINGTON, Aug. 21, 2024 – U.S. Department of Agriculture (USDA) Rural Development Under Secretary Dr. Basil Gooden has announced that USDA is accepting applications for loans and grants to expand access to new and better markets for rural small business owners and entrepreneurs.

The Department is making approximately $22 million available in funding through the Rural Microentrepreneur Assistance Program (RMAP).

Rural businesses with 10 or fewer full-time employees are eligible for RMAP loans and technical assistance. USDA also provides RMAP funding to non-profits, Tribes, colleges and universities to create revolving loan programs and support training and hands-on support for rural microentrepreneurs and microenterprises.

USDA is particularly interested in applications that will advance Biden-Harris Administration priorities to:

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 Rural Development (RD) programs and benefits from RD-funded projects; and
Help rural communities recover economically through more and better market opportunities and through improved infrastructure.

Applications must be submitted to the USDA Rural Development State Office where the project is located no later than 11:59 p.m. Eastern Time on the following dates:

First Quarter: Sept. 30, 2024
Second Quarter: Dec. 31, 2024
Third Quarter: March 31, 2025
Fourth Quarter: June 30, 2025

Interested applicants are encouraged to contact Brian Wilson, Program Director, at 207-990-9125 or brian.wilson@usda.gov 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 67411 of the Aug. 20, 2024, Federal Register.

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