Summary

Requires the Small Business Administration, the Appalachian Regional Commission, and the Delta Regional Authority to sign one or more memoranda of understanding within 120 days to coordinate efforts that expand rural entrepreneurship and assist covered small businesses in the Appalachian and Delta regions. The agencies may use reimbursable agreements and work with other federal entities, and must jointly report to Congress within two years on activities, assistance delivered, plans to expand help, and ongoing coordination.

• Mandates SBA, ARC, and DRA to sign MOUs or agreements within 120 days to coordinate rural entrepreneurship efforts.
• Targets support to "covered small business concerns" located in the Appalachian and Delta regions.
• Allows reimbursable agreements and collaboration with other federal agencies to carry out coordinated activities.
• Requires a joint report to Congress within two years detailing coordination, assistance numbers, and future plans.
• Relies on existing statutory definitions and existing programs; it does not itself appropriate new funds.
• Emphasis is on improving coordination and expanding access to existing federal resources for rural entrepreneurs.
• Implementation details and impact depend on agency follow-through and use of reimbursable or interagency arrangements.