Program Description
The MicroLoan Program provides very small loans to start-up, newly established, or growing small business concerns and certain not-for-profit childcare centers. Under this program, SBA makes funds available to nonprofit community based lenders (Microlender Intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $50,000. The average loan size is about $13,000. Applications are submitted to the local intermediary and all credit decisions are made on the local level.