Microloan Program

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Author: Small Business Editors

Small businesses can obtain up to $35,000 as a short term loan. This loan is not guaranteed by the SBA and is only available in selected locations across the US.

The Microloan Program can be used for working capital, purchasing inventory, supplies, furniture, fixtures, machinery and/or equipment. It can not be used to acquire real-estate or pay any existing debts. Targeted companies are small businesses and not-for-profit, child-care centers, start-ups or companies in expansions in need of financing and technical help. The microloan is delivered through specific intermediary lenders who also provide management and technical assistance. This is not a typical government grants for small businesses. This money is not directly handed to small businesses, but instead is given in the shape of a loan. The federal agency provides reduced interest rates.

Here is more information regarding Microloan Programs.