Where to Find Microloans

Posted by: Rod Kurtz on November 11, 2008

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 3:33 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

ray crawford, personal injury lawyer

March 15, 2011 2:39 AM

Ok, that's good, but I feel that the focus of financing facilitating organisations shall be on revision of current models for micro finance. They are hardly efficient. After all, we have almost tree billion people — and that's over 40 percent of the world’s population — who still live on less than $2 a day. Moreover, 2 thirds of them, which is two billion, remain absolutely “unbanked” - means do not have any access to traditional financial infrastructures. So the coverage of the alliances in the field must be much wider.

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