This grant is designed to provide communities with access to funds in order to support small scale start ups and entrepreneurs. Funds are intended to be used to develop a revolving loan fund within the community. All loans must be issued by a local Microenterprise Development Organization (MDO).
The program provides loans and grants to Microenterprise Development Organizations (MDOs) to:
Maximum Award Amount
$205,000 (Grants) $500,000 (Loans)
Businesses, located in an eligible area and with 10 or fewer employees, are eligible to apply for loans through their local MDO.