What is a SBA Microloan?
SBA microloans are smaller-size loans of up to $50,000 issued by the Small Business Administration (SBA) through a network of funding intermediaries, like us here at TwoSmith Capital.
The Power of a SBA Microloan
Low Interest Rates
SBA microloans typically offer lower interest rates compared to other small business loans, making them more affordable in the long run.
Support for New Businesses
SBA microloans are available to startups and new businesses, which often struggle to secure traditional financing due to lack of business history.
Flexible Use
These loans can be used for a variety of business purposes, including working capital, inventory or supplies, furniture or fixtures, and machinery or equipment.
Accessible to Underserved Markets
They are designed to assist businesses in underserved communities, including women, minorities, and veterans, providing opportunities where conventional loans might not be available.
Technical Assistance
Many SBA microloan intermediaries offer business training and technical assistance to help entrepreneurs succeed, which can be valuable for first-time business owners.
What Can a SBA Microloan Be Used For
Whether you are looking to rebuild, reopen, repair, upgrade, or improve your business operations. Microloans offer versatile financial support to help small businesses grow…
- 1. Working capital
- 2. Furniture
- 3. Equipment
- 4. Fixtures
- 5. Machinery
- 6. Supplies & Inventory
