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Case Study: The Microloan

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Case Study: The Microloan
The MicroLoan is a very small loan to start-up a small business and certain not-for-profit childcare centers. The SBA makes funds available to nonprofit community based lenders (third party), which each have their own lending and credit requirements, which, consequently, makes loans available to eligible borrowers in amounts up to $50,000. Applications are submitted locally and all credit decisions are made locally. Third party lenders require collateral, and the personal guarantee of the business owner. Loan terms vary according to size, anticipated use of funds, requirements of lender, and the needs of the borrower. Interest rates vary, contingent upon the lender and costs from the
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