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Where to Find Microloans

Posted by: on November 11

Whether you are a startup company or a small business that is growing, the SBA Microloan Program may be just right for you. The SBA funds nonprofit, community-based lenders to make loans up to a maximum of $35,000.

The SBA reports that the average loan size is about $13,000. To find out if you are eligible, start by going online to www.sba.gov/services/financialassistance/sbaloantopics/microloans/index.html. You can find contact information for your local SBA office, and the SBA will guide you to its microloan partners.

Marilyn J. Holt, CMC
CEO
Holt Capital
Seattle

Reader Comments

Ilya Bodner

January 13, 2009 03:33 PM

The SBA is hard to deal with. Most small business owner complain about the length of time it takes to secure small amounts. Microloans are a good idea but the small business owner should take the time to reseach this topic online first.


Good luck.

Ilya Bodner
Small Business Owner
Initial Underwriting Group

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