Rural microentrepreneur assistance program

In this section: The term “Indian tribe” has the meaning given the term in section 5304 of title 25. The term “microentrepreneur” means an owner and operator, or prospective owner and operator, of a rural microenterprise who is unable to obtain sufficient training, technical assistance, or credit other than under this section, as determined by the Secretary. The term “microenterprise development organization” means an organization that— is— an Indian tribe, the tribal government of which certifies to the Secretary that— The term “microloan” means a business loan of not more than $50,000 that is provided to a rural microenterprise. The term “program” means the rural microentrepreneur assistance program established under subsection (b). The term “rural microenterprise” means— The Secretary shall establish a rural microentrepreneur assistance program to provide loans and grants to support microentrepreneurs in the development and ongoing success of rural microenterprises. The purpose of the program is to provide microentrepreneurs with— The Secretary shall make loans to microenterprise development organizations for the purpose of providing fixed interest rate microloans to microentrepreneurs for startup and growing rural microenterprises. A loan made by the Secretary to a microenterprise development organization under this paragraph shall— The Secretary shall require each microenterprise development organization that receives a loan under this paragraph to— The Secretary may permit the deferral of payments on principal and interest due on a loan to a microenterprise development organization made under this paragraph for a 2-year period beginning on the date the loan is made. The Secretary shall make grants to microenterprise development organizations to— In making grants under clause (i), the Secretary shall— ensure, to the maximum extent practicable, that grant recipients include microenterprise development organizations— The Secretary shall make grants to microenterprise development organizations to provide marketing, management, and other technical assistance to microentrepreneurs that— A microenterprise development organization shall be eligible to receive an annual grant under this subparagraph in an amount equal to not less than 20 percent and not more than 25 percent of the total outstanding balance of microloans made by the microenterprise development organization under paragraph (3), as of the date the grant is awarded, subject to— Not more than 10 percent of a grant received by a microenterprise development organization for a fiscal year under this paragraph may be used to pay administrative expenses. Subject to subparagraph (B), the Federal share of the cost of a project funded under this section shall not exceed 75 percent. As a condition of any grant made under this subparagraph, the Secretary shall require the microenterprise development organization to match not less than 15 percent of the total amount of the grant in the form of matching funds, indirect costs, or in-kind goods or services. The non-Federal share of the cost of a project funded under this section may be provided— At a minimum, not later than December 1 of each fiscal year, a microenterprise development organization that receives a loan or grant under this section shall provide to the Secretary such information as the Secretary may require to ensure that assistance provided under this section is used for the purposes for which the loan or grant was made. There are authorized to be appropriated to carry out this section $20,000,000 for each of fiscal years 2019 through 2023.