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Increased Support for Rural Microentrepreneurs

This act boosts financial aid for small businesses in rural areas by increasing the maximum loan amount and raising the government's share of funding. This means easier access to funds for business development and job creation in smaller communities.
Key points
Maximum loan amount for microentrepreneurs increases from $50,000 to $75,000.
Government financial support for projects rises from 75% to 100% of eligible costs.
The Rural Microentrepreneur Assistance Program is extended through 2028.
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Expired
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Additional Information
Print number: 118_HR_5284
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2023-08-25
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Rural Microentrepreneur Assistance Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5284.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-08-25.

What are the main provisions?

Key points include:

  • Maximum loan amount for microentrepreneurs increases from $50,000 to $75,000.
  • Government financial support for projects rises from 75% to 100% of eligible costs.
  • The Rural Microentrepreneur Assistance Program is extended through 2028.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Nunn, Zachary [R-IA-3].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Agriculture Economy Public Investments