Administered by the U.S. Dept. of Agriculture, this program provides loans to businesses through public agencies or private non-profit corporations. Program goals include alleviating poverty and increasing economic activity and employment in rural communities, especially in disadvantaged and remote communities.
Funds may be used for new businesses, expansion of existing businesses, creation of employment and saving existing jobs. Maximum loan amount is $150,000; minimum is $25,000. Terms and interest are negotiated between the borrower and intermediary, usually below market value.