Rural microentrepreneur assistance program

Section 379E of the Consolidated Farm and Rural Development Act (7 U.S.C. 2008s) is amended— (1) in subsection (a)(4), by striking $50,000 and inserting $75,000; (2) in subsection (c)(1)(A), by striking shall not exceed 75 percent and inserting may be up to 100 percent, and a loan under this section for a project may be used to cover not more than 50 percent of any renovation, construction, or related costs of real estate improvements under the project; (3) in subsection (c)(1)(B), by inserting (or 5 percent, in the case of a microenterprise development organization serving a persistent poverty county, as determined by the Secretary) before of the total amount; and (3) (4) in subsection (d), by striking 2019 through 2023 and inserting 2027 through 2031.