Increase in funding for the 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 (b)(3), by adding at the end the following: (E) Use of funds A microloan made by a microenterprise development organization to a microentrepreneur under this paragraph for a project may be used to cover not more than 50 percent of any demolition, construction, or related costs of real estate improvements under the project.; (3) in subsection (c)(1)(A), by striking 75 percent and inserting 100 percent; and (4) in subsection (d), by striking 2019 through 2023 and inserting 2026 through 2030.