The SBA Micro-loan Program provides fixed rate loans up to $50,000 to for-profit businesses.
What's the value to me?
If you are looking for a loan (maximum $50,000) to fund a startup or existing company for machinery or other specific costs
Description & Overview
The SBA Micro-loan Program provides fixed rate loans up to $50,000 to for-profit businesses. These loans are for start-ups or existing businesses and can be combined with other financing sources to create a $150,000 financing package.
Eligible uses include:
- Leasehold improvements
- Marketing programs
- Other specific business costs
- Loan can be for startup or existing business (start-ups are typically limited to $50,000)
- Ongoing business consulting services available free of charge to borrowers
- Fixed rate interest
- Business must demonstrate ability to repay debt
- The minimum collateral is lien on business assets
- Personal guarantee from all owners of 20% or more of the business
- Cannot be used to refinance debt