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Increased Loans and Support for Small Businesses in Rural Areas.

This law extends the Rural Microentrepreneur Assistance Program until 2028, providing stability for small businesses in rural communities. It raises the maximum microloan amount available to entrepreneurs from $50,000 to $75,000. Crucially, these loans can now cover up to 50% of construction or renovation costs for business real estate improvements.
Key points
The maximum microloan amount for rural entrepreneurs increases from $50,000 to $75,000.
Loans can now cover up to 50% of costs related to demolition, construction, or real estate improvements for business projects.
The Rural Microentrepreneur Assistance Program is extended for five years, covering 2024 through 2028.
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Status:
Expired
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Additional Information
Print number: 118_S_2996
Sponsor: Sen. Ricketts, Pete [R-NE]
Process start date: 2023-09-29
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-09-2025
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_S_2996.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-09-29.

What are the main provisions?

Key points include:

  • The maximum microloan amount for rural entrepreneurs increases from $50,000 to $75,000.
  • Loans can now cover up to 50% of costs related to demolition, construction, or real estate improvements for business projects.
  • The Rural Microentrepreneur Assistance Program is extended for five years, covering 2024 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 Sen. Ricketts, Pete [R-NE].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Agriculture Public Investments