How it works
SBA microloans are made through approved intermediary lenders. The program supports smaller financing needs, and intermediaries set their own credit requirements within program rules. Ask directly about local availability and business assistance.
Where it can fit
A smaller equipment purchase, inventory need, or working-capital investment may fit. A credible use of funds and manageable repayment plan matter more than treating a small loan as effortless borrowing.
Look closely at the trade-offs
Permitted uses and lender requirements must be checked before applying. This is debt, and collateral or personal guarantees may be requested. Compare the cost of the loan with the value of the project and the support available.
Your next-step checklist
- Local intermediary availability
- Use-of-funds budget
- Business plan
- Repayment and security requirements
Crack this combination.
Is a microloan automatically a grant?
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Sources & further reading
This file draws on the following references. Product availability and requirements must be confirmed with the provider.
SBA: microloans