§ 2008s. Rural microentrepreneur assistance program
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(a)Definitions In this section:
(1)Indian tribe The term “Indian tribe” has the meaning given the term in section 5304 of title 25.
(2)Microentrepreneur The term “microentrepreneur” means an owner and operator, or prospective owner and operator, of a rural microenterprise who is unable to obtain sufficient training, technical assistance, or credit other than under this section, as determined by the Secretary.
(3)Microenterprise development organization The term “microenterprise development organization” means an organization that—
(A)is—
(i)a nonprofit entity;
(ii)an Indian tribe, the tribal government of which certifies to the Secretary that—
(I)no microenterprise development organization serves the Indian tribe; and
(II)no rural microentrepreneur assistance program exists under the jurisdiction of the Indian tribe; or
(iii)a public institution of higher education;
(B)provides training and technical assistance to rural microentrepreneurs;
(C)facilitates access to capital or another service described in subsection
(b)for rural microenterprises; and
(D)has a demonstrated record of delivering services to rural microentrepreneurs, or an effective plan to develop a program to deliver services to rural microentrepreneurs, as determined by the Secretary.
(4)Microloan The term “microloan” means a business loan of not more than $50,000 that is provided to a rural microenterprise.
(5)Program The term “program” means the rural microentrepreneur assistance program established under subsection (b).
(6)Rural microenterprise The term “rural microenterprise” means—
(A)a sole proprietorship located in a rural area; or
(B)a business entity with not more than 10 full-time-equivalent employees located in a rural area.
(b)Rural microentrepreneur assistance program
(1)Establishment The Secretary shall establish a rural microentrepreneur assistance program to provide loans and grants to support microentrepreneurs in the development and ongoing success of rural microenterprises.
(2)Purpose The purpose of the program is to provide microentrepreneurs with—
(A)the skills necessary to establish new rural microenterprises; and
(B)continuing technical and financial assistance related to the successful operation of rural microenterprises.
(3)Loans
(A)In general The Secretary shall make loans to microenterprise development organizations for the purpose of providing fixed interest rate microloans to microentrepreneurs for startup and growing rural microenterprises.
(B)Loan terms A loan made by the Secretary to a microenterprise development organization under this paragraph shall—
(i)be for a term not to exceed 20 years; and
(ii)bear an annual interest rate of at least 1 percent.
(C)Loan loss reserve fund The Secretary shall require each microenterprise development organization that receives a loan under this paragraph to—
(i)establish a loan loss reserve fund; and
(ii)maintain the reserve fund in an amount equal to at least 5 percent of the outstanding balance of such loans owed by the microenterprise development organization, until all obligations owed to the Secretary under this paragraph are repaid.
(D)Deferral of interest and principal The Secretary may permit the deferral of payments on principal and interest due on a loan to a microenterprise development organization made under this paragraph for a 2-year period beginning on the date the loan is made.
(4)Grants
(A)Grants to support rural microenterprise development
(i)In general The Secretary shall make grants to microenterprise development organizations to—
(I)provide training, operational support, business planning, and market development assistance, and other related services to rural microentrepreneurs; and
(II)carry out such other projects and activities as the Secretary determines appropriate to further the purposes of the program.
(ii)Selection In making grants under clause (i), the Secretary shall—
(I)place an emphasis on microenterprise development organizations that serve microentrepreneurs that are located in rural areas that have suffered significant outward migration, as determined by the Secretary; and
(II)ensure, to the maximum extent practicable, that grant recipients include microenterprise development organizations—
(aa)of varying sizes; and
(bb)that serve racially and ethnically diverse populations.
(B)Grants to assist microentrepreneurs
(i)In general The Secretary shall make grants to microenterprise development organizations to provide marketing, management, and other technical assistance to microentrepreneurs that—
(I)received a loan from the microenterprise development organization under paragraph (3); or
(II)are seeking a loan from the microenterprise development organization under paragraph (3).
(ii)Amount of grant A microenterprise development organization shall be eligible to receive an annual grant under this subparagraph in an amount equal to not less than 20 percent and not more than 25 percent of the total outstanding balance of microloans made by the microenterprise development organization under paragraph (3), as of the date the grant is awarded, subject to—
(I)satisfactory performance by the microenterprise development organization under this section, and
(II)the availability of funding.
(C)Administrative expenses Not more than 10 percent of a grant received by a microenterprise development organization for a fiscal year under this paragraph may be used to pay administrative expenses.
(c)Administration
(1)Cost share
(A)Federal share Subject to subparagraph (B), the Federal share of the cost of a project funded under this section shall not exceed 75 percent.
(B)Matching requirement As a condition of any grant made under this subparagraph, the Secretary shall require the microenterprise development organization to match not less than 15 percent of the total amount of the grant in the form of matching funds, indirect costs, or in-kind goods or services.
(C)Form of non-Federal share The non-Federal share of the cost of a project funded under this section may be provided—
(i)in cash (including through fees, grants (including community development block grants), and gifts); or
(ii)in the form of in-kind contributions.
(2)Oversight At a minimum, not later than December 1 of each fiscal year, a microenterprise development organization that receives a loan or grant under this section shall provide to the Secretary such information as the Secretary may require to ensure that assistance provided under this section is used for the purposes for which the loan or grant was made.
(d)Authorization of appropriations There are authorized to be appropriated to carry out this section $20,000,000 for each of fiscal years 2019 through 2023.
(Pub. L. 87–128, title III, § 379E, as added Pub. L. 110–234, title VI, § 6022, May 22, 2008, 122 Stat. 1173, and Pub. L. 110–246, § 4(a), title VI, § 6022, June 18, 2008, 122 Stat. 1664, 1934; amended Pub. L. 113–79, title VI, § 6023, Feb. 7, 2014, 128 Stat. 848; Pub. L. 115–334, title VI, § 6422, Dec. 20, 2018, 132 Stat. 4765.)
Connections100 cite this · traces to 4
Cited by 100 sections · top 60
public-private-law
- Public Law 116-260Consolidated Appropriations Act, 2021
- Public Law 117-328Consolidated Appropriations Act, 2023
- Public Law 115-334Agriculture Improvement Act of 2018
- Public Law 116-94Further Consolidated Appropriations Act, 2020
- Public Law 113-79Agricultural Act of 2014
- Public Law 117-103Consolidated Appropriations Act, 2022
- Public Law 116-6Consolidated Appropriations Act, 2019
- Public Law 117-43Extending Government Funding and Delivering Emergency Assistance Act
- Public Law 119-37Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026
- Public Law 117-180Continuing Appropriations and Ukraine Supplemental Appropriations Act, 2023
U.S. Code
statute-compilations
- Sec. 7011-YEAR EXTENSION OF AGRICULTURAL PROGRAMS
- Sec. 379ERURAL MICROENTREPRENEUR ASSISTANCE PROGRAM
- Sec. 163Section 4144(d) of the Motor Carrier Safety Reauthorization Act of 2005 (49 U.S.C. 31100 note) shall be applied by substituting the date specified in section 106(3) of this Act for “September 30, 2025”.
- Sec. 4STATEMENT OF APPROPRIATIONS
- Sec. 9OFFICE OF MANAGEMENT AND BUDGET REPORTING REQUIREMENT
- Sec. 6023RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM
- Sec. 6422RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM
- Sec. 780For the cost of loans and grants, $3,000,000 under the same terms and conditions as authorized by section 379E of the Consolidated Farm and Rural Development Act (7 U.S.C. 2008s): * Provided*, That such costs of loans, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974.
- Sec. 413None of the funds made available by this Act may be used by the Secretary of Veterans Affairs under section 5502 of title 38, United States Code, in any case arising out of the administration by the Secretary of laws and benefits under such title, to report a person who is deemed mentally incapacitated, mentally incompetent, or to be experiencing an extended loss of consciousness as a person who has been adjudicated as a mental defective under subsection (d)(4) or (g)(4) of section 922 of title 18, United States Code, without the order or finding of a judge, magistrate, or other judicial authority of competent jurisdiction that such person is a danger to himself or herself or others.
- Sec. 530Of amounts deposited in the Child Enrollment Contingency Fund prior to the beginning of fiscal year 2020 under section 2104(n)(2) of the Social Security Act and the income derived from investment of those funds pursuant to section 2104(n)(2)(C) of that Act, $6,093,181,000 shall not be available for obligation in this fiscal year.
- Sec. 117Notwithstanding section 101, amounts are available to the Department of Agriculture for “Rural Business—Cooperative Service—Rural Microentrepreneur Assistance Program” for gross obligations for the principal amount of direct loans as authorized by section 379E of the Consolidated Farm and Rural Development Act (7 U.S.C. 2008s) not to exceed $25,000,000.
- Sec. 117Amounts made available by section 101 to the Department of Agriculture for “Rural Business—Cooperative Service—Rural Microentrepreneur Assistance Program” may be used for the costs of loans, including the cost of modifying such loans, as defined in section 502 of the Congressional Budget Act of 1974, under the same terms and conditions as authorized by section 379E of the Consolidated Farm and Rural Development Act (7 U.S.C. 2008s).
statutes-at-large
- Public Law 112–240Entitled the “American Taxpayer Relief Act of 2012”
- Public Law 116–6
- Public Law 110–234To provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes
- Public Law 117–43Making continuing appropriations for the fiscal year ending September 30, 2022, and for providing emergency assistance, and for other purposes
- Public Law 117–103Making consolidated appropriations for the fiscal year ending September 30, 2022, and for providing emergency assistance for the situation in Ukraine, and for other purposes
- Public Law 115–334To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2023, and for other purposes
- Public Law 110–246To provide for the continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2012, and for other purposes
- Public Law 116–260Making consolidated appropriations for the fiscal year ending September 30, 2021, providing coronavirus emergency response and relief, and for other purposes
- Public Law 116–94Making further consolidated appropriations for the fiscal year ending September 30, 2020, and for other purposes
- Public Law 117–328Making consolidated appropriations for the fiscal year ending September 30, 2023, and for providing emergency assistance for the situation in Ukraine, and for other purposes
- Public Law 117–180Making continuing appropriations for fiscal year 2023, and for other purposes
register
- Proposed RulesFinal rule
- NoticesNotice
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- Rules and RegulationsFinal rule and response to comment
- Rules and RegulationsFinal rule
- NoticesNotice
- NoticesNotice
- Rules and RegulationsProposed rule
- NoticesNotice
- Rules and RegulationsFinal rule
- NoticesNotice
- Rules and RegulationsFinal rule; request for comments
bill
- Sec. 6016Rural microentrepreneur assistance program
- Sec. 6018Rural microentrepreneur assistance program
- Sec. 5018Rural microentrepreneur assistance program
- Sec. 5018Rural microentrepreneur assistance program
- Sec. 1Temporary extension of agricultural programs
- Sec. 1Temporary extension of agricultural programs
- Sec. 1Temporary extension of agricultural programs
- Sec. 201Extension of agricultural programs
- Sec. 6023Rural microentrepreneur assistance program
- Sec. 301Rural microentrepreneur assistance program
Traces to 4 documents
11 references not yet in our index
- Pub. L. 87–128, title III, § 379E
- Pub. L. 110–234, title VI, § 6022
- 122 Stat. 1173
- Pub. L. 110–246, § 4(a)
- 122 Stat. 1664
- 128 Stat. 848
- 132 Stat. 4765
- Pub. L. 110–234
- Pub. L. 110–246
- section 4(a) of Pub. L. 110–246
- section 4 of Pub. L. 110–246
Citation graph
cites case law
§ 2008s
Rural microentrepreneur assistance program
Bills×44
Fed. Reg.×17
Stat. Comp.×14
Pub. L.×12
Stat.×12
U.S.C.×1
Pub. L.Pub. L. 87–128, title III, § 379E
Pub. L.Pub. L. 110–234, title VI, § 6022
Stat.122 Stat. 1173
Pub. L.Pub. L. 110–246, § 4(a)
Stat.122 Stat. 1664
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