United StatesRural Microentrepreneur Assistance Program Act of 2025
What it does
This bill reauthorizes through FY2030 and revises the Rural Microentrepreneur Assistance Program (RMAP). This Department of Agriculture program provides loans and grants to eligible microenterprise development organizations to (1) capitalize revolving loan funds that provide loans to qualified rural microenterprises (i.e., sole proprietorships located in rural areas or business entities with not more than 10 full-time employees located in a rural area), and (2) provide related training and technical assistance.
More detail
The bill increases the amount a rural microenterprise may borrow to up to $75,000 (from up to $50,000).
The bill also increases the maximum allowable federal cost share to 100% (from 75%). The bill further specifies that a RMAP project loan may not be used to cover more than 50% of any demolition, construction, or related costs of real estate improvements.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Aug 8Introduced in HouseLatest
- Aug 8Referred to the House Committee on Agriculture.Introduced