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
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