The Faith and Rural Small Business Act modifies how the Small Business Administration (SBA) organizes its support for rural and faith-based small businesses. The bill elevates the head of the Office of Rural Affairs from a director to an Assistant Administrator position, giving it higher organizational standing within the SBA. Additionally, the bill creates a new Center for Faith within the SBA's Office of Entrepreneurial Development to serve the needs of faith-based business owners and organizations. The Center will be led by a Director who must be appointed by the SBA Administrator within 90 days of the law's enactment. The legislation does not specify new funding amounts or detailed program activities, focusing instead on structural changes to make these initiatives more prominent within the federal small business support system.