The microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.
To be eligible for Microloans, the lending and credit requirements may vary from lender to lender. Generally, some type of collateral as well as the personal guarantee of the business owner are sometimes required.
Microloans can be used to rebuild, re-open, repair, enhance, or improve your small business.
Proceeds from an SBA microloan cannot be used to pay existing debts or to purchase real estate.
SBA-approved lenders make all credit decisions and set all terms for your microloan.
Collaborate with us, and we'll help you find the intermediate lender that offers the best options for your business.