10.860: Rural Business Investment Program
Alternate Name: RBIP or RBIC Program
Overview
Program Number
10.860
Status
Active
Last Modified
April 5, 2022
Date Posted
April 5, 2022
Objective
To promote economic development and create wealth and job opportunities among individuals living in rural areas and help to meet the equity capital investment needs primarily of smaller enterprises located in such areas.
Applicant Eligibility
An applicant is eligible to apply for an RBIC license if it meets the criteria in Subpart C of 7 CFR part 4290, which include but are not limited to: (1) the company is a newly formed for-profit entity or a newly formed for-profit subsidiary of such an entity; (2) the company has a qualified management team with experience in community development financing or relevant venture capital financing; and (3) the company will invest in enterprises that will create wealth and job opportunities in rural areas, with an emphasis on smaller enterprises.
Beneficiary Eligibility
Individual businesses or enterprises must satisfy established criteria, including but not limited to being: (A) a public, private, or cooperative for-profit or nonprofit organization; (B) a for-profit or nonprofit business controlled by an Indian tribe on a Federal or State reservation or other federally recognized Indian tribal group; or (C) any other person or entity; that primarily operates in a rural area, as determined by the Secretary.
Additional Information
Grant Awards
Rural Business Investment Program direct grants
Grant Opportunities