Rural Microentrepreneur Assistance Program (RMAP)

Rural Microentrepreneur Assistance Program

Provides loans and grants to Microenterprise Development Organizations (MDOs), such as the Southeast Oklahoma Community Development Corporation, to support microloans for microenterprise startups and growth through a Rural Microloan Revolving Fund. It also offers training and technical assistance to microloan borrowers and micro-entrepreneurs.

What is an eligible area?

  • Choctaw, McCurtain and Pushmataha Counties in Southeast Oklahoma.

  • Rural areas outside cities or towns with populations fewer than 50,000 are eligible to apply.

  • The borrower’s headquarters can be based in a larger city as long as the project service area itself is in an eligible rural area.

How can funds be used?

Qualified businesses are eligible to apply for business activities and expenses including, but not limited to:

  • Working Capital

  • Debt Refinancing

  • Purchasing Equipment & Supplies

  • Improving Real Estate

What terms are required on loans to qualified businesses?

  • Up to $50,000

  • Fixed Interest Rate

  • Maximum Term 10 Years

  • Limited to 75% of Project Cost

Interest Rates:

Interest rates are determined based on the credit scores of qualified business owners.
The following image shows interest rates corresponding to different credit score ranges.
The prime rate is equivalent to the Federal Reserve's rate.

For more information, contact us today!