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Increased Loan Limits and Extended Support for Rural Microentrepreneurs until 2030

This Act increases the maximum microloan amount for rural entrepreneurs from $50,000 to $75,000, making it easier for small businesses to grow. Furthermore, organizations supporting these businesses will receive 100% grants for operating costs, up from 75%. The assistance program is extended until 2030, ensuring long-term financial stability for rural economic development.
Key points
The maximum microloan amount for rural microentrepreneurs increases from $50,000 to $75,000, providing greater funding opportunities for projects.
Organizations assisting microentrepreneurs (microenterprise development organizations) will receive 100% grants for operational costs, up from 75%, enhancing their capacity to provide aid.
The Rural Microentrepreneur Assistance Program is extended to cover the years 2026 through 2030, ensuring long-term support.
Loans can cover up to 50% of costs related to demolition, construction, or real estate improvements under a project.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2691
Sponsor: Sen. Ricketts, Pete [R-NE]
Process start date: 2025-09-03
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Rural Microentrepreneur Assistance Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2691.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-09-03.

What are the main provisions?

Key points include:

  • The maximum microloan amount for rural microentrepreneurs increases from $50,000 to $75,000, providing greater funding opportunities for projects.
  • Organizations assisting microentrepreneurs (microenterprise development organizations) will receive 100% grants for operational costs, up from 75%, enhancing their capacity to provide aid.
  • The Rural Microentrepreneur Assistance Program is extended to cover the years 2026 through 2030, ensuring long-term support.
  • Loans can cover up to 50% of costs related to demolition, construction, or real estate improvements under a project.
What is the specific legal status?

The current status is Introduced.

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 2025-12-31.

CATEGORIES

Agriculture Economy Public Investments