Bill > HR4935

This bill aims to enhance the Rural Microentrepreneur Assistance Program by making three key changes to the existing law. First, it increases the maximum loan amount from $50,000 to $75,000 for microentrepreneurs in rural areas. Second, it expands the government's loan guarantee from 75% to 100%, while also allowing loans to cover up to 50% of costs related to real estate improvements such as demolition and construction. Third, the bill extends the program's authorization from the current period (2019-2023) to a new timeframe of 2026-2030. The Rural Microentrepreneur Assistance Program is designed to support small business development in rural communities by providing loans and technical assistance to microentrepreneurs, who are typically small business owners operating in rural areas with limited access to traditional financing. By increasing loan amounts, improving loan guarantees, and extending the program's duration, the bill seeks to provide more robust financial support for rural small business owners and stimulate economic development in rural regions.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/house-bill/4935/all-info