H.R. 4935: Rural Microentrepreneur Assistance Program Act of 2025
The bill titled the Rural Microentrepreneur Assistance Program Act of 2025 proposes amendments to the existing Rural Microentrepreneur Assistance Program within the Consolidated Farm and Rural Development Act. Its main purposes are to increase funding available to rural microentrepreneurs and adjust certain provisions related to loans and financing.
Key Provisions
- Increase in Loan Amount: The maximum loan amount that an individual or organization can receive under the program would be raised from $50,000 to $75,000.
- 100% Loan Coverage: The bill proposes that loans can cover 100% of the costs associated with certain projects. Previously, the program provided funding for only 75% of such costs.
- Updated Timeframe: The operational timeframe for the program will be extended from the years 2019 through 2023 to 2026 through 2030. This means that the provisions will be applicable for an additional five years.
The overall goal of these changes is to better support small businesses and microenterprises in rural areas, enabling them to secure greater financial assistance for their projects aimed at promoting local economic growth.
Relevant Companies
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Sponsors
2 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Aug. 08, 2025 | Introduced in House |
| Aug. 08, 2025 | Referred to the House Committee on Agriculture. |
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