What Is an SBA Microloan?
The SBA Microloan Program Explained
SBA microloans, which are some of the easiest SBA loans to get approved for, range in size between $500 and $50,000. Microloans are a great option for entrepreneurs who may find it difficult to get other kinds of SBA loans due to not having great credit. Many microloan borrowers are women, members of minority groups, have lower incomes, or experience other barriers to getting the funding they need to start a business.