Microloans

Faster Funding’s

Microloans

Whether you are launching a business, expanding an existing one, or seeking resources to support operations, Microloans offer simple, flexible, and accessible funding designed for entrepreneurs who need it most. Apply today and get the support—financial and educational—you need to grow.

The Benefits of Microloans

Microloans offer small, accessible funding options designed to help startups, small businesses, and entrepreneurs who may not qualify for traditional financing. With lower borrowing amounts, flexible requirements, and faster approval times, microloans are ideal for covering startup costs, inventory, equipment, or short-term operating needs. They often come with competitive rates and supportive lender guidance, making them a practical stepping stone for new or growing businesses looking to build credit, stabilize cash flow, and scale with confidence.

• Ideal for startups, women entrepreneurs, minority-owned businesses, and nonprofits
• Access small loan amounts with minimal collateral
• Flexible credit requirements—even no or thin credit may be accepted
• Many programs include training, coaching, and financial education
• Perfect for borrowers rejected by traditional banks or SBA lenders

How It Works

1. Pre-qualify with basic business or personal information
2. Provide financial documents such as bank statements or tax returns
3. Complete training or coaching (if required by the lender)
4. Receive funding typically ranging from $1,000 to $50,000
5. Repay over 6–60 months with affordable payments
6. Access continued mentorship or resources (many programs include ongoing support)

Qualification Requirements

Microloan requirements vary widely depending on the lender or program, but commonly include:

✔ General Requirements

• No active bankruptcy
• Must be in good standing with no recent tax liens, foreclosures, or major delinquencies
• Verifiable bank account
• Proof of income (W-2, tax returns, etc.) when applying
• Must be a for-profit small business or nonprofit childcare center (SBA microloan rules)
• Borrowers must own:
• 21% of the business for loans under $50,000
• 51% of the business for loans over $50,000
• Some lenders require six months in business and $100,000+ annual revenue

✔ Credit Requirements

• Credit score 550+, but many microloan programs accept:
• No credit
• Thin credit files
• Minor past issues
• Some lenders decline applicants with credit issues in the last 12 months:
• Bankruptcy
• Tax liens
• Non-medical collections
• Repeated delinquencies

✔ Program-Specific Requirements (examples)

• SBA Microloan Programs: Must operate within lender’s designated service area
• Kiva Loans: 0% interest, no minimum credit score—uses social underwriting (friends/family must contribute first)
• Grameen America:
• Must form a five-woman group
• Must attend financial training
• Must live below the poverty line
• Must have entrepreneurial intent