Nebraska Ag Connection - Rural Microentrepreneur Assistance Program Available

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Rural Microentrepreneur Assistance Program Available
Nebraska Ag Connection - 05/05/2016

Annually a Presidential proclamation honors small business entrepreneurs. USDA Rural Development celebrates Nebraska’s small rural business entrepreneurs. Nebraska’s businesses start and grow one person, one idea and one job at a time. Rural Development is here to help those ideas grow to reality.

Rural Microentrepreneur Assistance Program (RMAP) loan and grant funds are available to eligible Microenterprise Development Organizations (MDO) to establish a revolving loan fund (RLF) and provide training and technical assistance to microenterprises and microentrepreneurs for business startups and growth. Eligible MDOs are a non-profit, an Indian tribe, or a public institution of higher education. Loans to microbusinesses from the RLF cannot exceed $50,000 per business. Funds loaned to a microbusiness can be used for most types of business activities including agricultural production and excluding construction costs. RMAP applications may be submitted at any time.

Currently there are seven RMAP loans operating in Nebraska, totaling $2.150 million. These loan funds are available to rural businesses.

Grant funds in the amount of $883,210 are providing business-based training and technical assistance to rural microbusinesses. Since 2010, grant funds have provided technical assistance and training to more than 1,000 micro-entrepreneurs, and 67 business loans have been made for $1,713,900. RMAP program dollars were leveraged locally with $2,352,716, creating or saving more than 200 jobs.

To discuss applicant and project eligibility or for more information regarding the RMAP program contact Deborah Drbal, Deborah.drbal@ne.usda.gov or 402-437-5558.

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