Rural microentrepreneur assistance program
Title VI — Rural Development › Subtitle B — Consolidated Farm and Rural Development Act
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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 loans A loan made by the Secretary to a microenterprise development organization under this paragraph may— (i) be used for 100 percent of a loan to a rural microenterprise; and (ii) provide up to 50 percent of the cost of demolition and construction and related costs of real estate, excluding the acquisition of real estate.; and (3) in subsection (d), by striking 2023 and inserting 2031.