Rural Microentrepreneur Assistance Act of 2023

This bill raises the maximum microloan amount under the Rural Microentrepreneur Assistance Program from $50,000 to $75,000 for rural microentrepreneurs. It allows loans to cover up to 50% of real estate improvement costs (like construction or demolition) for qualifying projects. The program also increases repayment guarantees from 75% to 100% for lenders and extends the funding period from 2019-2023 to 2024-2028. These changes directly affect rural small business owners seeking loans through participating microenterprise development organizations.