U.S. Department of Health and Human Services: Refugee Microenterprise Development (MED) ProgramDeadline: May 5, 2017
The Office of Refugee Resettlement Refugee Microenterprise Development (MED) Program seeks to promote refugee economic self-sufficiency by providing assistance with development, expansion, or maintenance of refugee-owned micro-business. Under the MED Program, the following objectives must be carried out: 1) assisting refugees to establish microenterprise businesses through the provision of MED loans, training, and technical assistance; and 2) assisting refugees in developing credit history and/or in repairing their credit scores.
Allowable activities under the program include technical assistance, maintaining a Revolving Loan Fund (RLF), including for Credit Builder Loans (CBLs), a Loan Loss Reserve (LLR) fund, and administrative costs associated with managing the MED Program. MED Programs also have the option of providing CBLs for those refugee clients that are intending to pursue an MED loan, but first need assistance in building or repairing a credit history.
Eligible refugee clients may take out a loan to develop a microenterprise business. A microenterprise is considered a small business employing 10 people or less and requiring small startup capital. Most microenterprises are family owned businesses employing one or two persons including the business owner.
Amount: A total of $2,000,000 is available for grants ranging from $150,000-$250,000 each year and averaging $175,000 each year. The project period is for five years.
Eligibility: State governments; county governments; city or township governments; special district governments; independent school districts; public and state-controlled institutions of higher education; Native American tribal governments; Native American tribal organizations; public housing authorities/Indian housing authorities; nonprofit organizations (with or without 501(c)(3) IRS status); and private institutions of higher education.