More information on Small Business Administration microloans
After my story last week on the Small Business Administration microloan program, which helps small businesses with loans of up to $50,000, lots of readers wrote to ask where they could get more information.
Here are two links that should be helpful. The first is a link to the SBA's microloan page. The only catch is that as of Thursday it hasn't been updated. So for example, it shows that the microloan limit is $35,000, when in fact it's been increased to $50,000. Expect some of the other information to be old also. But the page does explain how the basic program works, and includes several helpful links to additional information. Click here to go to the SBA's microloan page now.
The second link goes to a nationwide list of the nonprofit lenders that make the microloans. The link is also available at the very bottom of the SBA microloan page. Click here to go to the list of nonprofit microloan lenders.
-- Sharon Bernstein