Source: Inc Magazine
Overview: Advice for small businesses on what to expect when applying for a microloan, including finding a microlender, document preparation, and loan repayment.
“What happens if your business gets turned down for a loan by conventional banks? What happens when bank credit to small businesses tightens up? What do you do? One option would be to apply for a microloan, a small business loan ranging from $500 to $35,000 (and sometimes more) that is well-suited for small businesses or startups that maybe don’t have a credit history, can’t secure the funds through a bank loan, don’t have collateral, or have other risk factors.” Inc. Magazine How to Secure a Microloan.